Worth it to remodel this kitchen?

[Michael McGinnis]

Hi everyone! We purchased our first rental this week and we're thinking about updating the kitchen. It's not bad but we feel an updated kitchen would help target a better tenant. I have attached a photo to gauge your thoughts and to see if you all could provide a ballpark estimate as to what the cost may be. 

Thanks again! 

-Mike

[Account Closed]

I'd just replace that cupboard with the funky drawers - if they can't close better than that.  If you can just fix them so they line up neatly and close evenly, that's enough.

Then, paint the inside of the cupboards so they look nice and clean.

It would take forever to recoup a big reno, and I don't think it's necessary.

Although, it depends on what the rest of the place looks like, and how much more you could realistically get in rent, if you did a bunch of work.  

But, let's say you could get $300/month rent if you did a fancy upgrade.  That's $3600 in one year.  I'd expect upgrades to cost a lot more than that.  Then, you have to figure in the possibility of having to turn it over in a year, and lose a month's rent and possibly other costs.  So, realistically, how long would it take for the renovation to pay for itself?

I think I'd go with a slightly lower-class tenant that screens beautifully, and just fix that one cupboard and paint the inside of the cupboards.

For instance, I'm now a tenant, and I'd be quite happy with that kitchen.  I hate stainless steel :-)