What would you do with this kitchen..

[Rickardo]

Hi All,

This is an IP (unit) in the eastern suburbs of Melbourne. Kitchen needs a bit of an update so would like peoples thoughts of what I could do to add value with relatively low cost outlays (I probably wouldn't do any DIY but won't rule it out).

The pic is a bit old and i've replaced the blind with a new mocha coloured roller blind since then.

 

[pinkboy]

I would probably just get a chux and wipe it over!

Cheapest reno ever!


pinkboy

 

[nhg]

What is the price range in the area?

Rule of thumb is what 5% of purchase price on kitchen reno.

I would change cupboard door colour, change handles, and put in some new vertical blinds, or those wooden horizontal ones.

If you wana go all out, what are the taps like? They are easy to change and make a huge difference to the appearance of a kitchen.

In all honesty, new blinds and painting the walls will make difference straight up. That pinkish hue is dated.

 

[travelbug]

I think the kitchen is tidy and servicable. I wouldn't spend much and just wait until you decide to replace it later.

In the meantime I'd change the handles, the taps, and paint the walls a more modern colour (as already suggested).

 

[robboat]

Kitchen looks good - just a little dated.
Maybe add another overhead cupboard and change the door knobs.
For more money you can buy a modern kitchen bench top and get a mixer tap in a new sink.
Repaint to freshen the overall appeal.

But it looks OK for now....matches the rest of the IP?

 

[Rickardo]

Cheers for the feedback so far guys.

IP is worth around 350k with $300 rental, if the tenant decides to vacate I will paint the kitchen/lounge a more neutral colour, replace the door handles and maybe the sink taps.

The bench colour is dated, but am hesitant to replace it and all the cupboards at this point due to costs. Has anyone had any experience with respraying/laminating benches? I have seen a few company brochures offering this service but haven't followed up any further.

 

[oc1]

I'd actually get rid of those blinds first

Seriously, extend the overhead cupboards first and change the handles. Also update the taps. That's it. Anymore than that you might as well rip it out and start again.

Cheers
Oscar

 

[willb]

New door handles and replace the bench top.

Maybe make the splash back go to the overhead cupboards.

 

[westminster]

I'd go with do little - ie new tapware, handles and paint the walls OR spend $3-5k and get an L shaped Ikea (or similar) kitchen.

If you replace tapware though you have a sink which has 3 holes and most modern tapware uses a single hole so you might need to just leave

I wouldn't do anything in between like resurfacing as I don't think it's that cheap and I would personally rather just get a new benchtop and new cupboard doors.

 

[fernfurn]

Bunnings have a complete kit shown on House & Garden (I think) for resurfacing benchtops for about $200. You rough up the laminate with sandpaper, roll on a thick coat of the paint, sprinkle the packet of chips over it. Let it all set overnight, next morning, light sand, then put a coat of the resin surface on. It looked terrific, they said you had to be careful sanding the edges before you put the resin on. They said it was durable.

 

[Chic not shabby]

It's made by Rustoleum & called countertop transformations. I haven't used it but seen it demonstrated at Bunnings, it looks fantastic & quite easy to do.
Changing the blind to a mocha roller blind was a smart move

 

[eXc]

What is the price range in the area?

Rule of thumb is what 5% of purchase price on kitchen reno.

So at his purchase price of $350,000 he should spend $17,500 on an IP kitchen? Would you spend that much on an IP kitchen, or was that a typo?

 

[dog]

I usually try to get an idea from the managing agent as to whether the reno will benefit me with increased rent. If they were to say that I could charge an extra $20 per week, I then do some calcs to determine how much debt that money would cover at current interest levels.

Lets say youre currently paying 5% interest on your ip loan/loc, the $1040 (years return on the quoted $20 weekly increase) would cover the annual interest bill on a $20k priced kitchen...
Im not telling you to go and spend that, but the reno adds to resale/refinance value at no actual cost to you due to the tennant paying the interest to cover it.

In this situation though, and looking at the kitchen from a screen far away... It looks outdated with the rounded edges etc so I would pay for a new bench top. Ceasar stone is cheaper than most people realise, just shop around. I had quotes of $4500 for my ppor and ended up paying $2900 and its a massive kitchen... The perceived value of the stone top is huge and MUCH more classy than laminate.
I would get a cabinet maker to quote on new gloss vinyl wrap doors and outside cover panels. Probably looking at about $1500 for the lot. Simply cover the old panels with the new, and replace the doors entirely...

Obviously new handles etc and a new stainless stand alone oven for around $1k.

Colour scheme/painting walls etc is super cheap but your "new" old kitchen will be in the 21st century and the centre point/focal point of the unit... You can even use White Knight paint on the splashback tiles if you want to go cheap on them, but you want it to be quality and attract a higher quality tennant for maximum rental return.

I probably went into more detail than needed but at the end of the day, we are in this for the money that hopefully results in freedom from the rat race. If you want to attract more money, you need people to perceive that it is worth it.

For this $5k max reno, it will cost roughly $250 per year in interest payments at current rates, with a nett return to your rental of $750 appx with the conservative figures I quoted.

My 2c

 

[Lil Skater]

In this situation though, and looking at the kitchen from a screen far away... It looks outdated with the rounded edges etc so I would pay for a new bench top. Ceasar stone is cheaper than most people realise, just shop around. I had quotes of $4500 for my ppor and ended up paying $2900 and its a massive kitchen... The perceived value of the stone top is huge and MUCH more classy than laminate.

Not to mention far more durable to tenants who think putting hot pans on laminate is a smart idea

I wouldn't spend more than $5k, and if the internal cupboards are in fairly good nick then that's even better. If it's old chipboard though you may want to look at a flat pack as if you're planning on holding for a long time with tenants in there, many tend to slam/be rough with cupboards and the chipboard tends to wear and then you're replacing hinges and screws constantly!

I'm guessing by the purchase price/rental yield it's a two bed unit? Or maybe a smaller 3 bed? If it's 2 bed keep costs in mind as there's only so much people will pay in some suburbs for a 2 bedroom, and even if it's presented and has had the money spent on it to be worth $400pw you may not get that if it's the wrong market. If this is the case maybe resurfacing will be a better option, particularly if it's just dated and the bulk of it is in good condition.

Also suggest replacing the oven. Personally I like in built oven with cooktop above, if you do that I'd also suggest adding more shelving up top (and probably a range hood) which would also allow for tenants to have their fridge in the kitchen rather than dining. Although this can get pricey with installation of proper exhaust for the range hood.

 

[travelbug]

Why would you spend $5K on an old kitchen? You can replace it for that.

 

[Rickardo]

I'm guessing by the purchase price/rental yield it's a two bed unit? Or maybe a smaller 3 bed? If it's 2 bed keep costs in mind as there's only so much people will pay in some suburbs for a 2 bedroom, and even if it's presented and has had the money spent on it to be worth $400pw you may not get that if it's the wrong market.

Thanks for all the feedback. It's a 2BR unit, not tiny but on the smaller side and as you can see the kitchen area isn't huge, so i'm mindful of not spending too much as I don't think the increased rental would be hugely different if i spent 5k or 15k.

I will look into the laminate paint, i've got a bathroom cabinet in another place in pretty much the same pink colour which i'm replacing anyway, so may give it a practice shot on that to see how it looks before doing the IP.

 

[Witzl]

Are the cupboard carcasses in good condition? They look it from the pics.

If so, just get new laminate doors made to replace the dated looking current ones, along with new handles - Est around $1000 max (i rekon more like $500)
Get a new laminate benchtop made - Est around $500-700.

... or better still - get your current stuff painted professionally in 2pak poly.... its cheap and looks the part

 

[esh]

Bunnings have a complete kit shown on House & Garden (I think) for resurfacing benchtops for about $200. You rough up the laminate with sandpaper, roll on a thick coat of the paint, sprinkle the packet of chips over it. Let it all set overnight, next morning, light sand, then put a coat of the resin surface on. It looked terrific, they said you had to be careful sanding the edges before you put the resin on. They said it was durable.

Yes! It's $195 to be exact. http://www.bunnings.com.au/products_product_rustoleum-charcoal-countertop-transformation-kit-258285_P1370053.aspx?page=3&filter=categoryname--Effects+Paint That's the link to it. Cheaper way to improve. I haven't personally used it, but will be soon. Also change door handles and if having a more modern stove-e.g stainless steel would look nice.

 

[Tim86]

For a kitchen that size would cost about $2000 including new stainless steel appliances from bunnings. I just use bunnings hardwood timber slabs for the bench tops (you would need 3 of them ($300), grab a nice sink from ebay for $100, new flick mixer from bunnings $30, cabinets and doors around $1000, stainless steel stove top $125, oven $300-$450, door handles $50. Put it all together yourself is easy enough, has instructions with the flat pack. Might need to retile around the tops of the benches, $50 to do that yourself.

Total cost: approx $2000 for nice brand new kitchen.