Rent or Sell Your Remodeled Fixer-Upper?


Real Estate Investments

There are about 48.5 million rental units throughout the nation. Of these, approximately 22.7 million of them are owned by individual investors. If you've decided to take the leap into real estate investment, you're far from alone. 

If you've recently bought a fixer-upper, it can be difficult deciding what to do with the property once you've remodeled it. Should you become a landlord and rent the home? Or should you sell the house and hope to receive a profit? While there's no clear answer that applies to every situation, Masiv Real Estate presents you with some considerations that can help you decide. 

Historical Remodeling Considerations

Not every remodeling project increases your investment property's value. For example, historical homes have major selling points that should be left alone. Original fixtures and finishes are part of a historic home's appeal for many buyers. Remodeling these could detract from the home's value. Plus, if your fixer-upper is listed on the National Register of Historic Places, there may be some changes you're not allowed to make. Do your research first.

Consider a Vacation Rental 

Turning your investment property into a vacation rental may be worthwhile, depending on your location. For example, if your property is in San Diego vacation rentals can go for around $200+ a night. You can also create a profitable vacation rental if you're close to a popular destination like the Poconos. Many people rent their properties for premium prices during peak seasons and then at a steep discount during the off-season. 

Upgrades if You Plan to Rent 

Some upgrades will make the home more desirable to potential renters. These upgrades can also allow you to charge slightly more per month (in some cases), so you end up with a higher return on investment. For example, expanding or constructing a porch is always a good idea if your property has enough outdoor space. Adding a shed can also improve the property's attractiveness. 

Another option is to surround your property with a fence. Before hiring a fencing contractor, be sure to read online reviews. You'll also want to verify the contractor you use is licensed, insured, and aware of any underground utility lines. The average fencing project costs around $2,800 but can vary significantly based on your location and the project's scope. 

Research the Renting and Selling Markets 

The most significant considerations on whether renting or selling your remodeled fixer-upper is best are location and the current market. Research the going rental rates and recent sell prices on nearby homes similar to you. If rent prices are generally low but homes are selling high, you may want to sell. Or, the opposite may be true. 

If the market is in your favor, you may decide to purchase and rent out more than just your current property, especially if you live in a desirable travel destination. In this case, look into starting an LLC and creating a memorable logo that will provide consistency between your rental properties. You can make custom logos online for free to get your business - and your marketing program - started.

Rent or Sell Your Remodeled Fixer-Upper? There's No Clear Answer

There's no clear general answer on whether renting or selling your remodeled fixer-upper is the best option. The answer to this question has to be made on an individual basis, with several factors taken into consideration. However, the information above should help you make that decision for yourself. 

Let the professionals at Masiv Real Estate help you purchase your next investment property. We know the San Diego Real Estate market and can lead you towards the best investment decisions. Contact us at (619) 878-3817 or fill out the below contact form and our knowledgeable team will reach out immediately.

Next Steps: Learn How Much Your Property is Worth

Describe Your Property
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
1507 Properties
Page 1 of 126
$399,000
Neighborhood: Mission Valley
1
Beds
1
Baths
667
Sq.Ft.
1979
Year Built
1
Day on Site
230001855
MLS
Wonderful location in the heart of San Diego! Only minutes walk to SDSU Snapdragon stadium. Easy entrance onto the 8 and 15 Freeways. A few of the homes many upgrades include: Granite kitchen...
Open 1/29
293 Coolwater San Diego,  CA 92114
$630,000
Neighborhood: San Diego
3
Beds
1F11/2
Baths
1,400
Sq.Ft.
1960
Year Built
1
Day on Site
230001856
MLS
Register to Show and get confirmation AND/OR text LA with CADRE# and contact prior to showing. On the lockbox at the North side of the house on the meter. Need gate lock to enter into side front gate...
Open 1/29
12359 Cornwallis Sq San Diego,  CA 92128
$1,099,000
Neighborhood: Heritage Hill
3
Beds
2F11/2
Baths
1,924
Sq.Ft.
1990
Year Built
1
Day on Site
230001860
MLS
Welcome to the Heritage Hill. This charming house has it all: location, canyon views, charm, proximity to 15 & 56 freeways, walking distance to multiple plazas, restaurants, elementary school, and...
2
Beds
2
Baths
955
Sq.Ft.
1994
Year Built
1
Day on Site
305863240
MLS
Move-in Ready, Spacious top floor with vaulted ceilings. This 2bd + 2 ba. Features a modern kitchen with granite counter-tops, new double pane windows, Stainless steel appliances, new Laminated wood...
3
Beds
2
Baths
1,249
Sq.Ft.
1951
Year Built
1
Day on Site
305863278
MLS
Single story home with large backyard overlooking the Canyon and City. Just minutes to shopping, dining, SDSU, and more. This home has newer exterior paint and newer vinyl plank flooring, the kitchen...
$729,900
Neighborhood: Allied Gardens
4
Beds
2
Baths
1,174
Sq.Ft.
1957
Year Built
1
Day on Site
230001867
MLS
The Charm of Allied Gardens! Four Bedrooms, Two Baths, Entertainment size living room with vaulted ceilings and sliding glass door to rear yard with relaxing view. Home features hardwood floors and...
$949,000
Neighborhood: Rolando
3
Beds
2
Baths
1,362
Sq.Ft.
1959
Year Built
1
Day on Site
305863345
MLS
Beautiful, newly renovated home in a nice Rolando neighborhood. Looking for a "New" home? This is it! This home has been fully renovated & is move-in ready. Brand new Roof, new central AC/heat pump...
$498,800
Neighborhood: San Carlos
2
Beds
2
Baths
1,252
Sq.Ft.
1971
Year Built
1
Day on Site
230001872
MLS
Lovely San Carlos 2BR/2BA upstairs corner unit located in the desirable Brentwood complex. Spacious open floor plan with plenty of natural light. Freshly painted, with new LVP flooring and carpet in...
Coming Soon on 01/29
100 Harbor Dr #3803 San Diego,  CA 92101
$5,695,000
Neighborhood: Marina
4
Beds
3F21/2
Baths
4,170
Sq.Ft.
1992
Year Built
1
Day on Site
230001873
MLS
Masterpiece in the Sky! This spectacular penthouse encompasses the entire 38th floor of the iconic Harbor Club, with stunning 360-degree views of the Bay, Ocean and City, 4170 square feet of...
$774,900
Neighborhood: Normal Heights
2
Beds
2
Baths
872
Sq.Ft.
1928
Year Built
1
Day on Site
230001875
MLS
Remodeled with all New Finishes. New Appliances including High Efficient Washer & Dryer. Designer Tile and Quartz Counters. Customized Cabinets. Waterproof Hard Flooring. New Double Pane Windows. LED...
Open 1/29
5999 Rancho Mission Rd #117 San Diego,  CA 92108
$425,000
Neighborhood: Grantville
1
Beds
1
Baths
692
Sq.Ft.
1981
Year Built
1
Day on Site
230001877
MLS
Location! Location! Coveted "Mission Plaza" in the heart of Mission Valley! Very large one bedroom unit with a prime location in a park-like complex! Features include beautiful custom cherry kitchen...
$529,000
Condo: Baye Towne
2
Beds
2F11/2
Baths
1,357
Sq.Ft.
1980
Year Built
1
Day on Site
230001848
MLS
Minutes away from Imperial Beach, Coronado, and the I-5 Freeway, this townhouse has lots to offer. Nestled in a small gated HOA community offering a pool, laundry facility, and a reserved parking...

Post a Comment