New or used appliances for rental?

Question

Hi BP family! I'm conflicted about a decision and would love the opinions of experienced landlords regarding replacing appliances, specifically a dishwasher and a refrigerator. Would you recommend I buy new appliances or used ones? My desire to save money is strong, but my desire to avoid hassle is also strong. New appliances are likely to last longer and with fewer problems, but obviously they are much more expensive, even if I buy the least expensive models. I'd appreciate any perspectives from seasoned landlords. Thanks!

Christopher Giannino · Answer

You might want to check out scratch and dent appliances.  Assuming the scratch or dent isn't anything crazy, most of the time you can pick up a huge discount on a new appliance where you barely even notice anything.

Thomas S. · Answer

I purchase used, normally 2-3 years old. Fact is that a appliance a couple of years old will likely last as long as a new one and are 1/4 the price. Tenants don't know the difference and are only required to have working appliances. New is not cost effective.

Dawn P. · Answer

I like new appliances if I can pick up a set on sale - Lowe's/Home Depot offer good deals on occasion - but if not, pick around on Craigslist for some decent used ones. I always put a fridge in my houses but washers and dryers are up to the tenants.

Shannon Slade · Answer

Glass top ranges, dishwashers and vent hoods have all been bought used and in good shape from craigslist.  In my homes I do not maintain a fridge or offer washer and dryer, that is the tenants responsibility.  The appliances i buy used have been bought for 50-75% less than can be bought new.

If the fridge goes out the tenant will not tell you until everything is spoiled and i can guarantee they will have $200-$400 worth of beef in the fridge at that point.  Then next month when you go check out something else and you peek in the fridge there will only be a 6 pack of beer and bologna inside.  I bet you can tell I have been down this road.

I hope this helps!!