Low cost finishing materials (flooring/counters)

[Arun Gokhale]

Hi,

I'm new to the world of rehabbing properties. I recently started a buy and hold project where I will have to redo a number of the floors and cabinets. I was thinking of of going with fake wood vinyl planks for the floor and laminate for the counter tops. Vinyl planks seem to be a cheap option, but considerably more durable than laminate. 

I'm wondering if there would be any real advantages to upgrading to wood for the floor and some sort of stone for the countertops? Would renters really pay that much more for those kind of touches?

Thank you!

[Michael Meeks]

I agree depends on your market. We manage over 10,000 apartments. We mostly use wood-look vinyl and carpet, and get the same rent. We use some vinyl plank, it's pricier, but more durable. Easy to replace a single plank if needed. 

We have added granite, in some units, but mostly we use laminate. There are also refinishing options that give you a great look at a fraction of the cost.

Will the upgrade pay for itself in 24 months or less? If not I recommend keeping it basic.