Rehab for a LTR buy and hold
Howdy BP community! I recently invested in a SFH in a great school district. My plan is to attract a family looking to benefit from that district for 5-7 years.
I've invested ~$10k in new appliances, scraping off popcorn ceiling, and light cosmetic updates to modernize the home. It's had HVAC and roof replaced in the past 2-3 years, and no foundation issues so I am not anticipating major CAPEX for the next 5-8 years.
What, if any, additional updates would you recommend to maximize rent / minimize future costs? I'm thinking:
1. Update cabinets (refinish/color)
2. Add Nest thermostats
3. Add rain gutters to divert water from foundation
4. Refresh kitchen countertops (currently bar height - decrease to counter height and replace with granite/quartz)
It's the cheapest house in the neighborhood ($139/sf ft vs $150 avg) but I don't want to price myself out of the neighborhood.
What do you think? Ideally I'd keep the incremental investment to ~$2.5k unless there's a tangible and immediate ROI