I was looking at a property yesterday and the first thing I noticed is no freaking closets - anywhere. I can get the property dirt cheap and rent it cheap as well. So far the numbers look like a good cashflow situation. But I was curious: what kind of impact could this have on listing this on the future, or could it have any other implications?
If the rooms are big enough closets can be added very easy and cheap. Every time i have seen rooms with out closets in the past is because the rooms were already to small. Typically a room is not considered a bedroom without a closet.
right. Unless you can build in closets, or somehow build in shelving etc to serve as closets, come resale time, you will have a 0 bedroom home. You will likely be giving the house away like this seller is. This depends on your market though. That could be a $400,000 property in the right parts of Manhattan or London as is. Here in Tulsa, I wouldn't touch it unless I could add closets and keep the rooms at least 10x12.
If it generates good cash flow and you are not too worried about resale....especially after depreciating the whole thing over the next few decades....who cares if you get it for the right price and know of the impacts to your exit strategy going in.
Why not scour pintrest for "storage ideas for small homes"? They're usually cheap, and will have the "cool" "trendy" factor everyone likes these days
Put in an armoire screw it to the wall. Boom! instant closet.
Echoing @Jeremy Gunn 's point, here in MA, no closet, no bedroom designation. Now in a state with buildings this old, no one really points and says "I've got a 0 bed, 3 bath house with 6 offices." Though technically that might be the truth.
At this point in the US, bedrooms should have closets. They are a good weekend project. To save yourself hassle with electricity, put those stick on lights in. One on each side is usually enough. Plus you'll feel super handy once you clean up :)
Thanks everyone! There are lots of great suggestions and comments here.
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