I’m purchasing a foreclosed condo that is missing all major appliances except for the water heater.
Should I go for somewhat low priced but brand new appliances with a warranty, or buy used appliances at a discount? I figure the warranties will save me some headaches, but I’d like to hear everyone’s opinion on the matter.
Do you live close to the condo (I’m assuming you’re buying this for a rental)?
What kind of complex is it - high end, older, etc?
For rentals I usually go for medium grade, reasonably new (2 years or newer), lightly used appliances from craigslist. Medium grade because I like to avoid the high end computer boards that seem to be the items that die first as well as the cheap entry level stuff that seems to always die 1 day after the warranty expires.
If you peruse craigslist and you local papers diligently, you would be surprised at what you can pick up for VERY reasonable prices.
For flips I usually go for brand new top of the line, or a step under top of the line, to get an edge up on the competition. However, I have installed “like new” used high end appliances if, in my judgment, it would not affect the saleability of the property.
jmd_forest
Yes the condo is being purchased as a rental. I live very close to it, less than a mile.
The condos were built in 1987.
Craigslist is a goldmine for good deals. You should start there first.
Since you’re that close to it, I’d take my chances on the cheaper appliances you can find used at stores, on Craigslist, or in your local newspaper. If they die, at least you’re there and can install a different appliance yourself to save money on delivery and installation. If it was me, I’d just match the colors and call it good.
The only thing is that the condo is on the 2nd floor and there isn’t an elevator. So delivery wouldn’t be entirely be a piece of cake.
Thanks for everyone’s advice. I’ll probably end up buying slightly used appliances on craigslist. I did some looking today and I see what everyone is saying about the deals that can be found on craigslist.