We are under contract for a 3/1 single family Class B property. The problem we are running into is updating it but not over updating it. The kitchen is very outdated and so is the bathroom. We would like to update those, but we also have three bedrooms with carpet and the previous renter had a huge dog, so do we do a low grade cleanup (paint/new faucet and lights) in kitchen and bath and focus funds on putting in LVP throughout first? The current floors in the kitchen and bath are tile in good shape and hardwood in hallway and living room.
What would you focus on for the biggest return. We do plan to hold onto it long term.
Investor · La Crosse, WI · Member since 2023 · 9 posts · 5 votes
2y
The biggest returns would be in your bathrooms and kitchens. Depending on the age of the house there might be some hardwood under the carpet too which is great way to generate a large return. While the size of the kitchen will vary, you can usually renovate one for around 5k with new cabinets and countertops if you make it a rental property and are not making it extremely nice. Just the standard white cabinets from Lowes would be your best bet for a rental.
Thank you. It was built in 1988 and the cabinets are all original with typical wear and tear. They have a slide in range, which we want to replace with freestanding and add a dishwasher, so it seems to make most sense to update the kitchen with new cabinets/counters.