Selling Rehabbed Properties W/ Or W/o Appliances
Do most of you rehabbers buy/include appliances with your rehabbed properties. Do you include Kitchen and Washer and Dryer? If so what quality range appliances do you buy?
Thanks in advance for your support...
I own property in 4 different states and everyone is different. Some places it is common for people to always bring their own refrigerator, others not. (In Germany people bring their entire kitchen !!) Same with washer & dryers. So, I just go with the flow of the area.
It's so funny because what ever is the local norm for anything such as appliances or pet policy whatever, the people think it is the only way to be. They can't understand that things might be completely different somewhere else.
Fascinating life lesson. Good Luck !
[addsig]
In the rehab houses I want, I want a houses that needs a new kitchen, so I will end up bringing in all new appliances that all match.
I want the new buyer to walk into this house and be wowed, especially after he and his wife have just spent the afternoon looking at house after house filled with mismatched and old tired appliances. There is just something really exciting to a buyer to open the refrigerator and still see all sheves and bins still with the manufacturers stickers and packaging. For many buyers in this price range, they may never have ever had a new refrigerator in their lives.
My other trick is to bring in a new washer and dryer also. But I use them as a negotiating tool.
If the buyer wants to pay full price for the house they get everything. If they offer less, I counter bringing my price up very close to asking and make it subject to not include the washer and dryer.
You would be surprised at how many wives want to pay $4000 more for a house as long as they get that washer and dryer they saw in it.
With so many people strectching to make down payments in these priced houses the wife knows that it may be years before they really are able to get that washer and dryer back or the ones that they will end up with will be some junkers.
If they want the house without the washer and dryer, I have no problem pulling them out and using them in the next house.
New appliances to women must have a smell similar to the new car smell that appeals to men so much.[ Edited by The-Rehabinator on Date 12/13/2003 ]
The-Rehabinator,
Great advice. Thanks.
What is the price range you stick to on the appliances you buy?
For my Rehabs I buy quality appliances but low end...meaning that I do not go overboard and purchase fancy appliances; just appliances that look good and are adequate. I never purchase W& D unless the T/B wants one in which then the price to move-in goes up!
I opt not to include washer-dryer but I do dishwasher, fridge, and range. If you are dealing with a subprime home, then put subprime appliances in it. However if you are dealing with high end housing, put high end appliances in.
I must be low man on the pole. If I were to take a new stove or ref to the east side of Austin I better be willing to stand guard 24 7. That is if I can get it off the truck. I love the idea about new stuff and would do it if I could. I do put in a nice used stove that I get at garage sales for $25 to $50 bucks.
Good LUCK and HAPPY HOLIDAYS
Hope this helps some
Ted Jr
mbarikmo,
Myfrogger hit it right on the head, depends on the house.
We have a good competition here, most of the time you can't beat Home Depot for appliances, but sometimes the other smaller stores do some good sales especially on a complete group.
A month ago Appliance Warehouse had a complete stainless steele set: refrig, dishwasher, and stove for right around $1150.
Talk about eye appeal. Some of that stuff these buyers have only seen in the movies. Even though they are entry level appliances in stainless steel, the look of that stainless makes em think they really have something.
In our rehabs we usually use the appliances as a negotiating tool. I don't put them in, but I tell them that if they will pay full price, which is usually about 10K more than anything else in the neighborhood, they will get all brand new appliances. This also eliminates having to remove the appliances if someone already has their own. That doesn't happen often, but it's a pain in the butt. When we do put them in, we go to the scratch and dent section and get the contractor's discount (15%). The last house we put a high quality, brand new stove and fridge in for less than $700.00
It all depends on your area and the types of houses you are doing.
Good Investing,
Gary
Hey,
I always install a dishwasher and a stove. They are "built in" so it would look funny otherwise. I don't do frig.
I almost always buy from the Sears outlet (scratch and dent). You can buy a stove or a dishwasher where the sides are nearly caved in for next to nothing, and since it is covered, it looks great.
The only other thing is putting in a garbage disposal. They cost about $35 (not including the pain in the butt to wire and plumb), but they make a BIG difference.