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Updated almost 10 years ago on . Most recent reply

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946
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153
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Mark Forest
  • Real Estate Investor
  • Fenton, MI
153
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946
Posts

Opinions on keep or replace

Mark Forest
  • Real Estate Investor
  • Fenton, MI
Posted

Hello all.  I am posting some pictures of a house in a nice middle class neighborhood  where houses usually rent for around $1k a month.  It is a little outdated so I need opions on if I should rent as is, or replace/cover the existing flooring and siks in the bath.  The house was built in 1958.  Here is the kitchen linoleum.

Most Popular Reply

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45
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25
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Casey Kleinhenz
  • Developer
  • Bentonville, AR
25
Votes |
45
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Casey Kleinhenz
  • Developer
  • Bentonville, AR
Replied

What is it going to cost for the updates? Compare that to the difference between your rent rate as-is and your rent rate with updates. If you are not ahead after 60 months then don't do it.

I wouldn't assume that old finish materials will make a renter not value your house. I think the opposite is true, renters are grateful to have found a place in the area they want that is a little below market.

Another thought, old cabinetry and flooring is pretty bombproof. Lots of cheaper new materials are puff-board junk. You may upgrade yourself into a much shorter depreciation cycle. 

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