Kitchen Renovation Budget for Rental

6 Replies

I am renovating my NYC condo in preparation to rent it out. I want to make sure I’m not overspending or underspending on my kitchen reno. Here are the numbers: Expected monthly rent: $9,000 Kitchen Renovation breakdown: - Cabinets (Kraftmaid) for 9’ x 10’ kitchen with Island: $14,000 (Price does not include installation.) - Appliances: $6000 (GE, whirlpool, LG, Bosch, no viking) - Countertop Quartz for 60 sq ft; $4500 (Includes installation) - TOTAL : $24,500

I've represented rentals at this price point. You could maybe cut your cabinetry expense in half (or more) by using Ikea boxes and custom fronts from someplace like SemiHandmade, and work with a GC that has worked with Ikea to make it look custom. Aside from that your numbers look fine. How are the bathrooms?

Jason Lee, Real Estate Agent

    Both Bathrooms were recently renovated.

    I like the idea of these customized doors on ikea cabinet boxes. Genius business idea. What are the ikea boxes made of? Mdf?

    In terms of appliances, does it pay to be a brand “slave” when renting the place out?

    @Lyle Cooper 14k for cabs is pricey for a 10x10.  The stone price is high too, unless your getting something specific.  I have a stone guy if you want to price compare. 

    These are Ikea cabs. Think they were 2400

    John Hickey

      Thanks John!

      Love the fact you bought in bed stuy at the peak and held through it! I just bought a place in bk and will be doing the same thing you did. Live in a unit an renovate another unit.

      So I thin the 22.5k that Home Depot is charging for cabinets and top are out of this world.

      I also don’t want to spend so little that it hurts rental appeal of my unit.

      I’d like to spend 12k for the counter and about 4k for the top.

      What are good brands to look at that have 2-3 week then around time?

      I found a cabinet company called fabuwood that is considerably cheaper and they have quality cabinets and contemporary style.

      Definitely going to pass on schuler and Kraftmaid - pricing is too high.

      @Lyle Cooper fabuwood is a good choice. Let’s us know how it works out.

      John Hickey

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