New Appliances or Not

[Nick Albano]

Hello! First post!

Like most you guys starting out, I just finished reading rich dad poor dad a few weeks ago! I am now about 20 podcasts deep from bigger pockets and it has completely changed my way of thinking. As I continue my research and get good at analyzing deals, I would like to at least work on things I can control right now. My wife and I have owned a 1970s tuck under for almost 4 years. It is one of cheaper or smaller homes in better neighborhood. Our appliances are pretty old and with a decent sale going on were thinking about upgrading the fridge, dishwasher and probably the washer and dryer. I was thinking if i spent about 10k on new stainless steel high efficiency appliances we would see a decent return in equity. If we plan on moving within 2 years is it worth the bang for the buck? We don't know if we want keep it to rent or just straight sell it yet. Willing to take in all experience and advice on the situation! 

Thank you,

Nick

[Bill B.]

I put stainless in all my low end houses, they cost almost nothing. A nice  $1,000 fridge, $300 dishwasher, $500 stove, $250 microwave, less than $1,000 for clothes washer and dryer. So maybe you could spend $3k. You could save money on the purchase and repair of the fridge by not getting water/ice in the door which is the most common failure, but I think the properties rent faster with them and pay for themselves. 

If you spent twice as much I don’t think thing you’d get any of that money back, certainly not 3x as much.