make accessible or not
I know all real estate is local, but in general terms:
I am considering buying an investment property -- it would be my first time. The plan would be to flip the property, not to rent it, but I could afford to rent it if necessary. The property is a condo, conveniently located on a bus line, on a main street, in a close suburb to Boston. I've been told that many of the building's residents are elderly, and some were original purchasers when the building was new.
The condo is modern (for Boston), but to be competitive, it needs a complete revamp of finishes. I would replace the flooring, sliding doors to balcony, kitchen appliances and cabinetry, and bathroom fixtures and tile. It occurred to me that the condo could be made much more accessible, for example, for someone in a wheelchair, if I were to enlarge the bathroom and to open up the kitchen area. But doing that would be more complicated and more expensive.
From a financial standpoint, do you think the additional costs would be worth it? Is there a large unmet demand for accessible condo's? While I like the idea (quite a bit, actually), I fear the additional complications and cost might be too much for a first time buyer with an intent to flip.
I welcome your insights.