I’m a new investor and just bought my first home in February in Texas. The goal is to live in for a few years then rent it out when I move into new primary residence. My question is what kinds of updates/remodeling would be most effective in adding value to my home?
1800 sq ft
3 bd 2 bath
Granite in kitchen/bathrooms
Ceramic tile/laminate living spaces
Carpet in bedrooms.
Any advice and wisdom is greatly appreciated!
Pools are such a hazard, I would seriously consider repositioning to a property without a pool.
If that's not something you're open to, then make sure major systems in the house are all up to date. A 1986 build will have lots of things coming to their end of life by now.
What rents will you be able to get when looking at your local market & comparable properties? Compare that to your fixed & variable costs to see if you'll cash flow
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