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Updated 12 months ago on . Most recent reply

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Steve Gardiner
  • New to Real Estate
  • New Jersey
0
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3
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Does it make sense to build additions on rental homes?

Steve Gardiner
  • New to Real Estate
  • New Jersey
Posted

I just bought a new property and I was wondering if I was going to rent this out, what repairs should I make in terms of the roof and should I add an addition?

The roof looks in relatively good shape (I don't know the age) although I did notice a very small leak in one part of it and the facia is rotted in several places. Should I replace the entire roof or just try to manage the smaller parts? I am wondering if it makes more sense to just deal with the large upfront cost to have the roof done fully or if repairing the damage will end up coming back to haunt me.

It's a rather small house at just over 600sqft, for an addition is it really just a matter of getting estimates for the addition and comparing that to the additional rent I would get and seeing if it's worth it?

I am relatively new to this so I would love any advice, thank you!

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