Jennifer, Other/Just Looking in Philadelphia, PA

Upgrade kitchen prior to renting?

Asked by Jennifer, Philadelphia, PA Wed Oct 3, 2012

I'm considering renting out my Fairmount/Art Museum home for somewhere between three and seven years before returning to live in it. My kitchen cabinets are dated and painted and in need of updating. I just got a quote of 5,500 for a refacing. My question is likely "rate of return" in terms of what I can get in rent for the house for updated cabinets - I know that when I had the place up for sale last year the cabinets would have really brought the price down - how about with renting? Would nicer cabinets bring in an extra 20 or an extra 200 a month? Thanks in advance!

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8
Good for you Jennifer,

If you have the capability to DIY.... your saving 60 percent of your cost ( Just in Labor Pay out ) + when you do the job your self.... you put that extra effort in quality work.

At least that's what my lovely wife, Sheri says to me to get me inspired.. Oye 29 years, But I'm Happy!

Check the link below for additional House Logic Tips.

All the best John + Sheri RE/MAX Properties
Web Reference: http://www.houselogic.com/
0 votes Thank Flag Link Fri Oct 19, 2012
My apologies for the delay is replying. Just wanted to thank you all for your input. I've decided on a careful, quality re- painting and it's looking good so far. Thanks again.
0 votes Thank Flag Link Wed Oct 17, 2012
It really depends on how bad the kitchen is. If the kitchen is decent it is very unlikely that updating will bring in an additional $200/month. Give me a call and I'll come take a look.

Frank L. DeFazio, Esquire
215.521.1623 Direct
610.636.4364 Cellular
888.308.1148 Fax
Frank@CenterCityTeam.com
http://www.CenterCityTeam.com
0 votes Thank Flag Link Wed Oct 17, 2012
HOW MUCH AS IS NO UP DATES
0 votes Thank Flag Link Sun Oct 14, 2012
Stops take a deep breath! When you wanted to sell your house you should have taken the time to have a CMA done so what are you thinking. Why not interview at lease 3 real estate agents and have them do RENT CMA's showing rentals in the area just like doing a sale. And I agree you need to think how you will feel about spending money for something that is 3 to 7 years old or do you plan to up grade your kitchen when you move in. Please call me at my office 215-725-5700X49

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia, PA 19152
Office.(215)725-5700 X49
PhilCunningham2004@yahoo.com
http://www.GreatPaRE.com
Web Reference: http://www.GreatPaRE.com
0 votes Thank Flag Link Wed Oct 3, 2012
Hi, Jennifer,

You haven't really told too much about the present condition of your kitchen, so I will assume it to be just "average". Considering that, I will tend to disagree with my colleagues and tell you NOT to re-do the kitchen now.

1. While you may get a bit of a higher rent....how will you feel when you return and you have to do the kitchen again because tenants have not taken proper care.

2. Fairmount/ArtMuseum area is very desirable and there are plenty of people looking to rent there.

3. Refacing cabinets is not the best way to go if you plan to sell. It is not inexpensive, and when a buyer sees the "bandaid" job vs. the new cabinetry, etc., they feel that the seller took the cheap way out. Most folks think that refacing is cost effective....if it is done properly, without using adhesive tape made to look like wood, it can cost as much as a mid-priced cabinet.

Save your money and move on. You'll still get a good rent. When you return...fix everything that needs to be upgraded - either for you to live there or to then sell at a great price. Good Luck!

Carol Cei, Realtor, ePRO
ReMax Platinum Club and Hall of Fame
Five Star Professional
ReMax Action Realty
215.643.9661
carolcei@remax.net
Web Reference: http://www.carolcei.com
0 votes Thank Flag Link Wed Oct 3, 2012
Absolutly Jennifer, Kitchens and Bathrooms are what really interest the Tenant + the Buyer.

For 5,500 just for a REFACING...... they better give you a radio with that price :-)

I would shop around to get some quoates.

Plus its a write off on your taxes ( as a Rental )

All the Best John Curci 215-757-2889
0 votes Thank Flag Link Wed Oct 3, 2012
This is going to shock you and my colleagues my disagree with me, but I would say that an updated kitchen can add about $100 more a month for rent. Let's run the numbers though: $5,500 expenditure /minimum 3 years (60 months) = $152.77 / month premium you need to make. Seven years makes it $65.48. Average of 5 years is $91.67.

Two: you also want to consider how much quicker it will rent. If it rents 1 month quicker and you collect an additional month's rent, than that immediately makes it all worth it.

If you allow me to, I could come by and run comps and give you the comps for current condition vs updated. Let me know.

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
267.507.2287
axelson@kurfiss.com
Web Reference: http://kurfiss.com
0 votes Thank Flag Link Wed Oct 3, 2012
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