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  1. #1

    Default Worthwhile putting in a new kitchen?

    We have a tidy, original 1960's kitchen in our investment property. Although in good condition, it is obviously very dated with no dishwasher. Have been given a quote to replace it with a modern but no frills basic kitchen for around $10,000 excluding dishwasher. We could expect around $50 extra per week in rent. We are also thinking of selling the property in a year.
    What are your thoughts regarding how much equity this would add to a 1960,s 90sqm weatherboard bungalow in the masterton district.
    Thanks in advance

  2. #2
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    2,872

    Default

    If you are going to keep the property, yes do it.
    If you are going to sell, then no. The purchaser will probably be be happy to renovate the kitchen to their own tastes.

  3. #3
    Join Date
    Apr 2004
    Location
    Auckland
    Posts
    1,844

    Default

    Is it one of those old solid timber cabinets with stainless steel bench tops kitchen?
    If so - they are almost bullet proof.
    Way better than a modern weetbix board with burn a hole in it bench top kitchen.
    Maybe paint & new handles?
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  4. #4

    Default

    If it is a rental and you would sell as a rental I would do it because you get a 25% return on your spend and more if you depreciate chattels properly. That rent increase should flow into the sale price. Be aware that if the rest of the place is also in original condition then doing up one room can make the remainder look even ore dated.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  5. #5
    Join Date
    Jan 2010
    Location
    Hibiscus Coast
    Posts
    1,689

    Default

    $10,000! Shop around, Mitre 10, Bunnings, Placemakers have basic kitchens for $5000 - $6000. I wouldn't replace it, would leave it for the purchaser if you're going to sell.

  6. #6

    Default

    You don't need to spend 10k , I have looked around at quotes and these guys are excellent plus they are very prompt with their communications:


    Kitchen Plus NZ Ltd
    8 Monier Place, Mt Wellington, Auckland
    PO Box 12945, Penrose, Auckland 1642
    Tel:09-5710099, 09-5253863
    Fax:09-5710096
    www.kitchenplus.co.nz


 

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