Updated about 6 years ago on . Most recent reply
new countertops for rental that may be sold.
I own a singe family home that i've rented out for 12 years. Current tenants will be leaving in May. Property has original 1972 light green countertops that are original and in great shape. The kitchen had a partial upgrade 5 years ago but we left the countertops since they were in good shape and the property would be rented again. I would like to sell this house now but husband says we will pay 60k in taxes and wants to rent it for 3 more years until he retires and income will be less on taxes. I have someone who can replace the countertops with quartz and do a nice backsplash for me now so it looks good for resale in 3 years. I've never had nice countertops in this place and am wondering if it would be a mistake to sink money in this now or would be better to do right before we sell in 3 years. Also wondering if quartz countertops would possibly produce more rent? Also any advice on how to save on the tax issue when you sell a rental?
thanks in advance
Most Popular Reply
I agree, I use granite/quartz in all my rentals (B class). They hold up great and always make the kitchen look much nicer.
In terms of rent, it adds a bit, but it’s the overall look of the house. I can’t say that it adds $50/mo to the house, but I do get a lot more interest with a nice new looking kitchen.
As for tax savings, read up on 1031 exchanges. If you can buy another rental property within 90 days, your gains are deferred/non-taxable.