Making a buy and hold investment too trendy?

Question

Hey guys, so I'm in the process of closing on a SFH on May 12. I'm going to do some house hacking while I rent out the second bedroom to a friend of mine. The long term plan is to eventually rent the entire unit out. The entire property was renovated inside and out in 2004 and was owned by an elderly couple who maintained the property very well. My plan is to do some very minor updates such as paint and some different flooring options. The kitchen currently has beautiful oak cabinetry but I also know the trend right now is painted cabinetry, specifically white. I want to make this more of a "high end" rental but I also don't want to be continuously doing updates to change with the trends. My thoughts were to paint the walls a medium to lighter gray color and do the trim a white color. I'm stuck on whether I should paint the kitchen cabinetry and if so what color?! Would you recommend going with the white or another color that's in style right now or leave the cabinets their natural oak? I just know once I do it I can't go back so any help is appreciated!

Carolina E. · Answer

@Brian Nordman I would definitely not paint the cabinets if they are beautiful the way there are. It would be a waste. You can always paint them once they look bad and a painting could give them a new look.

Brian Nordman · Answer

@Andrew Johnson That was very helpful! I'll have to start doing some research into that because it seems like a very solid option for what I want to do.

Brian Nordman · Answer

@Andrew Johnson Okay I definitely understand what you're saying. While trying to do minor upgrades I'm also using the thought process of "rent proofing" the property. I know an investor who changes out the carpet every time he gets a new renter. I understand you can purchase cheaper carpet but this doesn't seem too cost efficient. Would you say that laminate wood flooring is rather durable? My plan was to replace carpet where I could with this flooring to eliminate future repairs if it is durable.

Andrew Johnson · Answer

@Brian Nordman I can't remember the name of it but there are a few products out there that are laminate flooring but "rubberized" (I know I"m saying that incorrectly) so that it's waterproof. You need a lot of prep work to lay it down properly or it will gap but once it's in you're good to go. If there are scratches from people moving furniture, etc. they have a little pen to color those in. With the fake "hand scraped" finish it's really hard to find the blemishes. Carpet is a giant pain but you typically have to replace 100% of it when only 20% of it (wear pattern, 1 foot radius around the couch, etc.) is bad. So you're basically throwing away 80% of "good" carpet as a cost. It also depends on your timeline. If you're going to hold it for 10 years, quality laminate or tile flooring will pay for itself relative to changing out carpet periodically. If someone is looking to do a flip or hold it for a year, I can understand why you'd go a different direction.

Brian Nordman · Answer

@Andrew Johnson That is a very good point. Do you think there is something to be said though for making a buy and hold too trendy? I feel like there is a fine line between making minor upgrades such as this to fit the tastes at a given time and constantly trying to keep up with the trends. Like I said, I want to appeal to the higher end renters but also don't want to be making changes every other year to fit the trend. Are there certain colors or styles that are in a sense fool proof? Meaning they will always be in style no matter what fad is currently happening.

Brian Nordman · Answer

@Carolina E. I think you make a good point I will likely hold off on painting them. Would you suggest painting all the trim in the house white? I know that is what is popular right now and I just feel like having a ton of oak or wood in your house is becoming outdated.

Making a buy and hold investment too trendy?

Making a buy and hold investment too trendy?

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