Is it worthwhile to put in new wood floors into a newly bought condo? Will it increase home value? The unit has really old floors, so updating would definitely be a plus, but my long term plan for the property is to rent it out, so not sure if it’s worth spending the $$ to replace the flooring

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If you're planning on renting the property out long term instead of flipping, it wouldn't be a good idea to increase home value immediately. That'll just cause an increase of property tax. Also depends on the price of the wood floor and how likely it is to attract new tenants. Go for something cheaper like vinyl

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I would put vinyl in a rental because it’s more durable. Adding wood floors is unlikely to change your tax basis in most places. How would anyone know? You don’t need permits to put down floors. No county appraiser has ever been inside any of my houses.

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