Do Duplex Owners Need Granite?

One of the most common impulses of any first time duplex investors is the desire to over improve their property.

What do I mean? After all, don’t most tenants want to live in a great place, and aren’t they willing to pay more for it?

To an extent, yes.

But would you pay $100 a month more to live someplace simply because it has granite counter tops?

Depends, doesn’t it?

Perhaps if your duplex is in a highly affluent neighborhood where people expect amenities like granite, you might.

For most duplex owners, however, this isn’t the case.

The most important question for any duplex owner eyeing improvements to ask herself is, “How much more rent will this generate?”

For example, if you believe adding a dishwasher will generate $25 more a month in income, it might be worth putting one in.

However, if you can’t objectively predict the return, it might be an improvement for your own home, rather than a rental unit.

Fresh paint, clean carpet and/or floors are givens.

But granite’s a luxury few landlords can afford.