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Author Topic: adding appliances to completed rehabs  (Read 12045 times)

Offline gordo2417

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adding appliances to completed rehabs
« on: January 01, 2006, 02:24:27 pm »
How many of you buy new appliances when you complete your rehabs?  Do you get the value out of those appliances in your asking price?

Nate-WI
Nate Andree
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Offline rballard

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Re:adding appliances to completed rehabs
« Reply #1 on: January 01, 2006, 08:56:27 pm »
To me, new appliances are a must. Depending on what type of home you're rehabbing, appliances aren't all that expensive. I generally stick to "starter" homes, so for around a thousand bucks a buyer can be impressed by having a new stove, fridge and dishwasher. I don't know how exactly you could measure the value of having the appliances, but my gut tells me it's well worth the money.

Offline gordo2417

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Re:adding appliances to completed rehabs
« Reply #2 on: January 01, 2006, 09:15:08 pm »
Skip the washer and dryers, hey?  

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline rballard

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Re:adding appliances to completed rehabs
« Reply #3 on: January 01, 2006, 10:36:33 pm »
Depends on where in the house the washer/dryer are located. If the hookups are in the basement, definitely not. If you have a laundry room, it's more of a toss-up. I don't think there's a definitive answer, but consider this: if you're a buyer and you walk into a house with a $150k asking price, are you going to be more impressed with a house that needs nothing b/c it already has brand new fridge, stove, dishwasher, washer and dryer or one that you'll need to buy appliances for right off the bat?

The washer/dryer issue also depends on the kind of home. If it's a starter home, it's quite likely a first-time home buyer won't already own a washer/dryer. If it's a middle/upper class home, the buyer is more likely to have a washer/dryer.

Offline gordo2417

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Re:adding appliances to completed rehabs
« Reply #4 on: January 02, 2006, 07:41:52 am »
Good points.  The hook-ups are in the basement.  I'm thinking about running lines upstairs but there really isn't any room so downstairs it will have to be.  I think that if I have a new stove, fridge, and dishwasher that will certainly help.  If the new owner HAS to have a washer and dryer then maybe we can work that into the price of the home.  

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline graciez

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Re:adding appliances to completed rehabs
« Reply #5 on: January 06, 2006, 09:02:23 pm »
I just did my first rehab and put used appliances in it.  Stove, Refrig, and D/W only in it.  I bought them from a local business that had been around for awhile and they guaranteed that they would work fine.  They were very clean and modern looking.  I did not put a washer/dryer in, but thought about using good used as negotiable items if I had trouble selling the house.   I payed around $500.00 for all three appliances.
« Last Edit: January 06, 2006, 09:07:59 pm by graciez »

Offline JeffInCT

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Re:adding appliances to completed rehabs
« Reply #6 on: January 06, 2006, 09:10:31 pm »
I always do new appliances. I try to go a little higher end on the stove like a glass top if electric or pilotless and sealed burner if gas.  I've gotten good feedback on my choices.

Jeff
I am a student of Carelton Sheets no money down technique. I always like to hear from other Sheets students. http://www.jyrentals.com

Offline rballard

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Re:adding appliances to completed rehabs
« Reply #7 on: January 07, 2006, 12:06:37 pm »
I just did my first rehab and put used appliances in it.  Stove, Refrig, and D/W only in it.  I bought them from a local business that had been around for awhile and they guaranteed that they would work fine.  They were very clean and modern looking.  I did not put a washer/dryer in, but thought about using good used as negotiable items if I had trouble selling the house.   I payed around $500.00 for all three appliances.

Is that $500 per appliance or $500 total? Neither makes sense to me... $500 each is too high and $500 total is low.

Offline JeffInCT

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Re:adding appliances to completed rehabs
« Reply #8 on: January 07, 2006, 10:16:25 pm »
500.00 for 3 used appliances is not unrealistic.
I am a student of Carelton Sheets no money down technique. I always like to hear from other Sheets students. http://www.jyrentals.com

Offline gordo2417

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Re:adding appliances to completed rehabs
« Reply #9 on: January 07, 2006, 10:34:16 pm »
I'm looking at my local fishwrap right now.  I can buy a used washer and dryer and a fridge for 300 bucks.  Again its all relative.  Should I buy new or used.  Up to whoever is buying them I guess.  My feeling is if its not a rental and your looking to flip then used wouldn't be a wise choice.  But then again this is my first potential flip so what the hell do i know :-)

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline rballard

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Re:adding appliances to completed rehabs
« Reply #10 on: January 07, 2006, 10:48:15 pm »
I guess I didn't account for them being used. I agree that for a rental that might be OK, but I hope you're not putting in used appliances for a flip.

Offline gordo2417

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Re:adding appliances to completed rehabs
« Reply #11 on: January 07, 2006, 10:58:02 pm »
No I would go new for sure.  I think I'm all set on this issue.  I'm going to buy a new stove and dishwasher and that's it.  If it comes down to it and they need a fridge and washer & dryer to close the deal then so be it.

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline BlueStarHomesInc.com

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Re:adding appliances to completed rehabs
« Reply #12 on: January 08, 2006, 01:58:58 pm »
I definitely have appliances included.  I have a connection with a small appliance store that gives me used for cheaper than new, plus they look decent.  The homes I have dealt in are starter homes for new families so it could be the deciding factor if there are other homes comparable.  Do I get the $400-500 back in price?  Maybe, maybe not, but I do know it does help to sell quicker.  Just my two cents....

 :DJ

Offline gordo2417

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Re:adding appliances to completed rehabs
« Reply #13 on: January 08, 2006, 02:04:02 pm »
You see the house I'm gonna get into is about 75-80K ARV.  Lots of homes like this in this town.  My target audience is gonna be a single mother of two, or a newlyweds, or single parent of one, know what I mean?  I guess if I can find some used appliances that match then I could go that route.  This is a ways down the road so I have some time to think about it.  I close on the 18th and I'm giving myself 3 months to get this house ready for show.

Nate-WI
Nate Andree
NJA Investments LLC
njainvestments.com
920-428-9858
[email protected]

Offline graciez

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Re:adding appliances to completed rehabs
« Reply #14 on: January 08, 2006, 08:40:52 pm »
That was $500.00 for all three used appliances and they had all been gone through and checked and cleaned.  They looked new and up to date otherwise I would not have put used in.   I think it depends on the price range some too of the house.  This was a starter home  2 bdrm in a small community that has lower income renters and I was targeting the $69-70,000 price range if I could sell it.  If I had to rent it the rent would have gone for around $575/month in this area.  I didn't care which happened I just didn't want it to sit empty.

 




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