Better to Pay Up for Fully Done Home to Rent or ?

2 Replies

My question, as I've been wandering around realtor.com and others, is:

Is it better to pay a little more for a very nice home with updates to the kitchen and such that the homeowners who clearly took pride in their home want, or is it better to find a non-updated home? The purpose is to rent out an SFR, and I noticed the price swings in my city alone on similar homes was quite a bit. Obviously homes that are 40 years old will need SOMETHING, but in my experience with just owning a couple of homes is the big tickets like the furnace/AC, roof, foundation, and concrete, if those are all sound, then the other repairs are usually cheaper.

Is it better to pay a little more for the "move in ready, done" home versus the less updated, not so much done home which is cheaper?  I could crunch a bunch of numbers, but from your experience, what is better off?  Less cash flow but the lower risk of problems, or more cash flow and a higher risk of problems, and maybe a less desirable dwelling to rent out?

It all depends on the numbers . 

@David Roberts  it also depends on what needs to be done and your comfort level with doing those repairs or finding someone to do them for you. Dealing with a contractor can be an issue and not all problems can be solved with throwing some money at them. 

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