I'm heading toward the end of my first flip - I was wondering what appliances people feel should be put in the kitchen. My agent for some reason says don't worry about the Refrig, only buy a stove & dishwasher.
Also, does anyone have a good source for appliances, especially in the Dallas area? Thanks!
Real Estate Broker · Jacksonville FL & Middletown, CT · Member since 2008 · 1k+ posts · 633 votes
19y
maybe its an area preference but I have never sold or bought a house that didnt have all the appliances in it. Matter of fact even when I was a renter my apts were always stocked (excluding dw).
Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
19y
No refrig unless it is a built in with the cabinet finish on the outside. Even renters commonly come with their own refrig.
As to the other appliances. Use a standard that matches what the competition is using. Go to some open houses and check.
When buying think about 2 things.
1. Best price. Ask for a contractors discount or other ways to get the best price.
2. Maybe more important than price is 12 months of free financing. The idea being that you put out no cash until you sell. Definitely pay off the loan at the time of the sale as you do not want a loan for the units when you no longer own the house.
Lancaster, PA · Member since 2008 · 28 posts · 2 votes
19y
Lowes/Home Depot will sometimes offer "scratch and dent" sales including floor models. Many times you can find several good apliances with minimal and acceptable damage for HUGE discounts. I've seen stoves with dents on the side go for 60% off the original price. How often do you see the side of a stove once it's installed. Buy a few and keep them aside. At significant savings it's worth tying up a little cash.
Also, check Best Buy for floor models. We picked up both fridge and stove in stainless steel that way for a good price.
If you are looking for dirt cheap appliances, most moderate sized towns will have an appliance shop that will have something if you want to get some working stuff in the place for short change.
Real Estate Agent · Minneapolis, MN · Member since 2008 · 193 posts · 7 votes
19y
Hey John-
I wish my tenants brought their refrigs!
I agree it depends upon your market and the price of the flip. A starter home buyer is going to expect all the appliances. An upper end buyer will want to buy them (and has cash to do so) themselves.
The dishwasher and built in microwave is an absolute in all properties. Washer and dryer is almost never.
Real Estate Investor · London · Member since 2008 · 3k+ posts · 74 votes
19y
Scott,
I would expect apartment owners to supply the frig.
When I had some 1-2 unit homes in the hood where things might go pop at night the tenants supplied the frig or I did. We negotiated and there was an extra charge if I purchased it. Used ones were only $100 and the deal was it was there unit once it was installed. They paid extra on the rent and owned the unit so if it broke they dealt with it. New units were about $600 if you focused on the size common for lower end apartments. I normally did not buy new.
When buying used I would buy from a company that wanted the old one so they did the swap.
Celina, OH · Member since 2008 · 34 posts · 1 vote
19y
I'm working on my first flip and planning to sell between $125-$130k. I'm planning on putting in all new real stainless steel appliances. I have a place pretty close to me that is a scratch and dent but they have so many items you can always get ones that have there blemishes hidden by cabinetry.
I feel it is a pretty good price from everything I have found around here.
Dishwasher, Range (smooth top), microwave (Over Range) and Refrigerator (Side by Side), all stainless steel for $1500....
does anyone have any suggestions and places cheaper than this?
Real Estate Agent · Minneapolis, MN · Member since 2008 · 193 posts · 7 votes
19y
Seems like stainless steel is an overkill for a $125k house. Think about saving the money. Also, depending upon the kitchen materials and layout, they may look out of place.
Real Estate Investor · Las Vegas, NV · Member since 2008 · 1k+ posts · 447 votes
19y
When rehabbing your house needs to meet or slightly exceed the area standard. If you overdo it you will not recover your investment. What do other houses have? I would not try to save a few pennies if having stainless steel helps you sell the house. However if it will not make a difference then you can use black or white appliances and save the money.
Hey John-
I wish my tenants brought their refrigs!
I agree it depends upon your market and the price of the flip. A starter home buyer is going to expect all the appliances. An upper end buyer will want to buy them (and has cash to do so) themselves.
The dishwasher and built in microwave is an absolute in all properties. Washer and dryer is almost never.
Microwave is a must? What about a oven/stove? I would've thought that a microwave was less of a priority, since anyone can pick one up for under $100.
Real Estate Agent · Minneapolis, MN · Member since 2008 · 193 posts · 7 votes
19y
I think you need something over the range/oven. A hood is $45 a over the range micro is $125. I usually just go with the Micro as most homeowners want one and could never install it themselves (as they can be a nightmare).
Real Estate Broker · Jacksonville FL & Middletown, CT · Member since 2008 · 1k+ posts · 633 votes
19y
maybe its an area preference but I have never sold or bought a house that didnt have all the appliances in it. Matter of fact even when I was a renter my apts were always stocked (excluding dw).
Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
19y
Some folks like white, some black, some stainless; some want through the door water/ice; some might prefer a convection unit vs. microwave....
For a flipper, why not just offer a credit at close, and let the buyer pick their own? Less hassle for you, they get what they want... if they already have their own, they get cash at close. Win Win.
Real Estate Investor · Bethlehem, PA · Member since 2008 · 48 posts · 1 vote
19y
I would also suggest doing all the appliances....it just adds a nice touch for the new buyer. Many people don't know what appliances cost, esp first time homebuyers so its one less thing for them to worry about. Buy right when you get the appliances and they will pay off
for us, buying appliances made all the difference. Our unit will out sell anything else from our condo because we have the nicest stuff, but to each his own.
Personally, I like to see all of the appliances in the kitchen.
If you can purchase the appliances, with a warranty,
this may be a selling point that you can utiliize.
I recently finished rehabbing my first flip and I took advantage of a
10% off appliance sale at Home Depot.
I went with the "CleanSteel" instead of stainless. A couple reasons why,
less expensive and easier to clean. No fingerprints or smudges.
I actually prefer the cleansteel over stainless.
Would love to share my before and after pics, but I see that I need to have
at least 10 posts before I can include the link to my pics. Oh well maybe later.
Real Estate Investor · Georgetown, MA · Member since 2008 · 250 posts · 6 votes
19y
Originally posted by "Beachbum":
Some folks like white, some black, some stainless; some want through the door water/ice; some might prefer a convection unit vs. microwave....
For a flipper, why not just offer a credit at close, and let the buyer pick their own? Less hassle for you, they get what they want... if they already have their own, they get cash at close. Win Win.
While its true that people have all different opinions on what they like its all about the "perceived" value when you a quick flipping a house.
People have a hard time picture things when the its not laid out in front of them and empty kitchen with a promise to credit the buyers at close may hurt you in the long run. As stupid as it sounds people may have lower offers without the appliances in because they can't "picture" how could the kitchen would look. The same goes for staging and empty room just won't sell as good as a room with(staged couch, picture, mirror, end table, plant...etc) in it.
It's all about creating "preceptional value" and less work for the buyer. If people have to "imagine" the appliances there or have to deal with lining up movers to attach all their appliances then they will certainly bid lower(even if its done unconsciously).
I'd personally go with everthing but the fridge. Most of the time people bring their own. At least thats how its done conventionally around here. If you plan on flipping again you must already have a contractors account set up at home depot or lowers, if not do that. Then buy the floor models you'll get a double discount.
we always buy appliances. they key to selling is spend a little more money on your properties. it will make your houses look better and your reputation will increase for having nice houses