Hands On Real Estate Investing

We have owned most of our rental properties for more than 25 years. Now that the real estate market is super hot, we are selling! However, millennials like upgrades. According to our “millennial” real estate agent, they don’t want to buy fixer-uppers and handyman specials. Therefore, we need to make upgrades before we list the house on the market. We’ve all heard that kitchens and bathrooms sell houses, so we focus our upgrades in those 2 rooms. We set a budget at the beginning of the renovation, so start with inexpensive upgrades that will dazzle the millennial buyer:

1. Kitchen sink
2. Kitchen faucet
3. Light fixture
4. Kitchen cabinet handles
5. Laminate countertops
6. Door knobs

Start with a thorough cleaning of the entire property, which includes air vents, windows, window treatments, shower tile, light fixtures, and range hood. Even wipe down the HVAC equipment and exterior doors, which are easy to forget. Our real estate agent usually recommends that we replace the refrigerator, stove and dishwasher, which can cost $2,000. However, we have sold rental properties with old appliances, but we made sure they were clean inside and out. One time, the dishwasher basket was very worn and cruddy, so we ordered a new basket for that particular manufacturer and model for $6.00 bucks!

Have you sold a property recently and found inexpensive ways to make upgrades? If so, please share your tips below:

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The opinions expressed herein are solely those of the Author/WebMaster. Before taking any action, please consult your real estate, financial, and legal advisors.