Updated over 3 years ago on . Most recent reply
Acceptable Renovations on a Condo?
Hello,
I just purchased a condo in Atlanta, GA. I am planning to spend around $10k in renovations on the property. I am currently using it as a primary residence, but eventually I will use it for rental income. As a total newbie to real estate investing, are there any do's and don'ts for condo renovations? Things that can lower the likelihood of a renter willing to rent the property? I'd like to do a full kitchen remodel and some flooring updates to start. I was also interested in some aesthetic changes like faux brick walls, warm colors, new bathroom vanities, etc. Essentially, I was thinking of adding things that I like but I was concerned that it might not appeal to a potential renter and could cause difficulties down the line.
Just wanted to ask here before I commit any money to the renovations. Thanks!
Most Popular Reply
To avoid spending / or not spending on the wrong things, you must look at other condo/apartment rentals in the area. If you see that certain features or finish level justify the investment then do it, but you should not do a big renovation before then. It also helps to market the property for rent (as a trial), see how many good inquiries you get. If there's demand for the property as-is, don't change it.