Should i buy a new oven or keep the used one?

4 Replies

One of my tenants offered to sell me their oven for $150. Its in good conditions, a little dirty but I think it could get the job done. I dont know if I should buy it because I want to increase the price on that property and I feel that a new range would be better for rent increase, or keep the old one and save some money. What should I do?

What finish is the current range and what would you get to replace it? If the current is white or black and the new one would be stainless steel, I'd go with the new one. Also, we are big on new appliances and updating capex before tenants move in to limit maintenance calls and tenant complaints so again, I would say go with a new range.

It depends on the condition of the old one compared to the new one. What class property are you in? 

I like to have spare appliances on hand for a quick swap when one dies. If I wait until something dies, then I'm scrambling to find a used replacement, which is hard to do, and I usually end up buying new.