Washer/Dryer in Flip?

Question

As a general rule, I would probably never buy a new washer/dryer for a flip. There is not one there now. The reason we think we might like to provide it is it's a tight little mud room and only stackables will work in a bit of a tricky area (that we are creating). Since it's a small one bedroom 600 sq. ft. house, we thought it might be best to show that it fits for the buyer, so they're not left thinking that maybe they can't fit a washer/dryer there. In addition, they'd have a nice new stacked washer/dryer, which won't hurt the sale either. There's a reasonably good chance it would be purchased as a second/vacation home, in which case it will be more move-in ready as well. But of course we also aren't looking to overspend our money if it's not for a good enough reason(s). Any thoughts on this?

John Weidner · Answer

I never install - it's Personal choice what you may like:  Front load vs top load.  I'd say in my market it is 50/50 on completions that install before sale

David Niles · Answer

Every flip / situation is different.  What I do is step back and just look, most times the issues will stand out clearly to you and if they do, they will also to perspective buyers.  Our repairs evolve all the time as the job progresses and I do the same thing.

Odds are if you originally felt it needed the washer / dryer, then it did.  Trust your gut and inital feelings, once you start to over analyze it, you can drive yourself crazy second guessing.

Kevin Siedlecki · Answer

@Kathryn Bowden

I see this almost the exact opposite as everyone else here, but that could be based on my market. The washer/dryer is a good thing for a homebuyer to see, and spending a few hundred dollars on it can't possibly make or break the numbers.

That said, you have to know your market and your instincts. My guess is that your hesitancy is based on one of two things. Either the washer/dryer is overkill in this neighborhood, or you are penny-pinching and hoping you can still get top-dollar for the sale. Be honest with yourself. Which is it? That will give you your answer.

Thomas S. · Answer

If you are questioning the decision that is a very strong indication that the washer and dryer are not necessary.

When I do flips I always know what is necessary and if in doubt I know it isn't.

Every unnecessary dollar you spend comes straight out of your profits. The bottom line is that most extras are not necessary to make the sale with exactly the same profit.

Adam Kappel · Answer

This is a tough one. I would ask if you're concerned at all about time on market with the property. If comps are selling quickly and you're pretty certain it'll sell, I wouldn't worry about it. On the other hand, if you think it might sit a bit and want to add that extra oomph to ensure folks see how to utilize the space, i'd add it.

Also, consider just renting them from rent-a-center or something for "staging" and don't include them as a fixture in the listing.

James Maradits · Answer

Sounds like it may be a good idea for the situation!  I went out today and saved THOUSANDS on appliances at the big box stores black friday sales, including a super modern stackable front loading washer suite for under $800.

Kathryn Bowden · Answer

The replies here are really helpful.  It is not a real hot market and properties are not flying off the shelves when listed.  It's probably a fairly balanced market right now.  I do hope to have some wow/oomph factors to help someone fall in love with the place.  And we felt like it may help us get that higher dollar per square foot that our realtor thinks we could get with this place, because it is overall very cute.  Like I said, if it were just a normal space for washer/dryer, I would definitely not get these.  Another thing is there is no dishwasher and we decided not to try to put one in - because it's a small kitchen and as a one bedroom only a single or couple will live here, so less need for one.  This might disappoint some people, so thought the washer/dryer might help offset that.  Love to hear people's opinions though, as it's really helpful.  This is our first official flip, so we don't have a lot of experienced instincts yet.

@James Maradits, @Adam Kappel, @Matthew Smith, Thomas S.

Kathryn Bowden · Answer

@James Maradits, okay I'll come clean.  We already bought the washer dryer today on black Friday (along with the rest of the appliances we need).  I'm not sure, but I think I can still cancel the order within 24 hours of purchase.  I was really on the fence, so I'm still questioning myself on the purchase ....

Washer/Dryer in Flip?

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