Electric Heat - Should I upgrade

[Mona Arthur]

Hi Bigger Pockets Family,

I am new to bigger pockets and about to make an offer on my first deal. It is a 4 bedroom colonial with an asking price of 199,000, based on the comps in the area, I can potentially sell it for 310 t0 320. Renovation cost will be around 60,000. I live in the northeast and with the cold winters heating can be expensive, unfortunately, the house that I plan to flip has electric heating, I am wondering if it's worth the investment to change the heating system from electric to oil or gas. Will electric heating system drastically effect offers, my realtor says potential not, but I what do you think?

[Tom S.]

@Mona Arthur  I'm over in VT, and IMO yes, it will affect offers.  I definitely wouldn't buy a house with electric heat unless I was rehabbing it. If you're going to renovate it, do it right.  

Get lots of estimates but $10k-20k would be a rough range.  Also check out incentives in your city / state as there will prob be rebates available.

Welcome to BP!

- Tom