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Updated about 10 years ago on . Most recent reply

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Kimberly H.
  • Baltimore, MD
63
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What makes the most sense....

Kimberly H.
  • Baltimore, MD
Posted

If you had only $15k for improvements would you do an Oil to gas conversion with AC or new windows. They both need to be done, but the bank is only willing to give me $15k.

What makes more immediate sense for better rents or value added.

I can always improve other areas later in the year or after I close on the property.

Thanks in advance for your advice.

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Elizabeth Colegrove
  • Hanford, CA
1,833
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Elizabeth Colegrove
  • Hanford, CA
Replied

What does your area have for "normal"? In my areas people don't add in higher "costs". For example, we have two houses that are ultra efficient and have 30% lower utility bills get no more than our other houses. Actually they rent for less because of smaller backyard and closer together units make them less desirable. Even though the summer bills are $130 versus $300. So make sure you look at the local demographics and expectations to see what adds value.

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