Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
Attention flippers! What are you guys and gals paying for countertops? I know prices vary around the country but I'm still curious and don't want to get ripped off while completing my current project.
My first quote feels a little high. It's 40 sqft of dark black granite, 1.25'' thick, $1700 installed. I would consider other materials but if prices are similar granite wins every time. Any advice would be really appreciated.
I can't remember the exact measurements on mine, but 40sqft sounds close and I think it was in the $1500 neighborhood so I don't think you are too far off. That was here in Colorado. I have a question out to my handyman asking their opinion and let you know what they say.
One of the items that buyers remember when they are purchasing a home are the countertops. Putting in a cheap countertop can cost you much more than you save. The old axiom is that kitchens and bathrooms sell a house and what really sells a kitchen or bathroom is a great countertop.
Most of the rehabs we do are complete gut-jobs of old, dilapidated homes from the 1920s to the 1960s. That means our average rehab runs somewhere between $60,000 and $70,000. If we are going to spend that much on a rehab, we better darn sure install a decent countertop that will attract buyers.
In most of our rehabs, we opt for a light-colored countertop that steers away from brown colors that were so popular just a few years ago. We don’t use prefabbed countertops. We have developed relationships with a few stone yards. We’ll buy the stone by the slab and then we’ll have a fabricator custom-cut and install the countertops. With volume, we’ll usually pay somewhere between $800 and $900 for each slab plus no more than $1500 for fabrication and installation. We’ll use one to two slabs in each installation.
It is true that you can save money on your renovation by putting in less expensive, prefabricated countertops straight from the home improvement super store, but buyers look closely at countertops. Knowing where to allocate your resources on a renovation is the key to being profitable. Countertops are one of those items that you should not pinch pennies on.
@Doug Smith Thank you for the kind words! I guess my quote seems realistic at this point. I'm going the right way with this kitchen. It's not going to be a rental so it's a mistake to go cheap on the material.