Hi folks,
I'm finishing paying off the loan on my condo this year. My tenant told me that he will move once his lease is over in February. I haven't decided if I will move into the condo after the tenant leaves and finally leave my parents' house or if I will continue to rent. I do know that I will put some money into it no matter what.
Currently, there is an ugly orange paint through out the condo. The bathroom is antiquated and so is the kitchen. I will likely put in new light fixtures throughout the place, new sink + vanity, toilet, refinish the kitchen cabinets, put tile in the kitchen countertop and a new faucet, new paint and perhaps newer appliances. I'm budgeting around $2k with a lot of the work done myself. I might go the extra mile and get tile flooring in the kitchen and bathroom as well.
My question is, do y'all think it is worth it? Will it make the condo go up in value by that $2k or will it just be so that it looks nicer? I'm currently renting it for $650 but I might be able to get $700 if it looks nice.