Buying a property without appliances?

6 Replies

Hey everyone, I had a quick question that actually just came up a few minutes ago while I was searching for properties for my first investment.

One house that I was recently looking at is a 3 family in Hartford, CT and from what I've seen it looks pretty nice.  The one thing that I don't like about the place however is that there don't appear to be any appliances hooked up in the building.  No refrigerators, no stoves, no nothing. 

My question is this: Is there a cheap and easy way to get these things?  I'd also prefer they be of decent quality as well.  My biggest concern with this is that while I'm saving as much as I can, I simply don't have much money to work with at the moment.

Would financing the appliances be a viable solution, or is that not recommended?

You might ask the seller for an appliance credit at close. This would help roll the cost into the loan.

Craigslist. I bought a nice fridge from the wealthy part of town for $50. Look for kitchen remodels

Seller credit would be great but if that doesn't work you can always purchase new at a Home Depot or Lowes. Get them when they're running sales like Memorial Day. Another cost effective route would be to buy from a used appliance store near you.

I would not let this stop you. Appliances can be had at reasonable prices.

Some loan types require appliances so if you are financing the property, you may want to check with your lender before you get too far along with the deal. 

If you do want new appliances then shop around.  Some places offer 2 years no interest so you might as well finance them and make payments.  I've bought appliances on houses I've flipped with no payments for 6 months and never made a payment until I sold the house and paid them off. 

Thanks for the thoughts everyone!  I think I'll get a viewing of the property scheduled so I can get a better feel for it myself!

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