Makes sense to renovate?
Does it make sense to renovate our kitchen if we need to sell, say when the RE market improves in some years? Right now, the place has not been touched for let’s say, 50 years. There are no cabinets or countertops (only shelves), walls are a patchworked mess, appliances are worth only as junk, no…
Does it make sense to renovate our kitchen if we need to sell, say when the RE market improves in some years? Right now, the place has not been touched for let’s say, 50 years. There are no cabinets or countertops (only shelves), walls are a patchworked mess, appliances are worth only as junk, no proper outlets, ceiling was taken down to the beams, electrical is ancient, floors are old plastic tile, plumbing lines are exposed, etc.
I am making plans to renovate, thinking that in the current state, this kitchen (and adjoining bath, laundry, dining area) would bring down the value of the house, just because it makes the house a fixer-upper (the other floors are in much better shape). It’s going to cost an arm and a leg (150K maybe). Is it wise to go to this expense or better to save and sell as is down the road?
My vote is for the renovation of the place,
When you sell and it is not renovated the buyers will nitpick thru their lawyers to lower the price after the contract is signed.
Buyers look for imperfections to get a reduction in price,
It is called negotiating after the fact.. It could be very aggravating to the seller.
The renovation does not have to be luxury..
It could be done for a modest price.
It should be simple and clean.
I prefer the color white for openess and clean look for kitchen and
bathroom. They can always add their own color to personalize.
I lived with an old kitchen, bathroom and cracked walls for longer than I’d like to admit. I didn’t enjoy it and when I thought about possibly selling, I’d say, well, it needs to be renovated first. About 2 years ago I finally renovated kitchen, bathroom and cleaned up the rest. It has made an enormous difference in my life and I regretted not doing it sooner. It’s great for living and for entertaining, and if I wanted I could sell tomorrow, but I don’t want to.
I had a very good contractor who I’d really recommend. And he didn’t charge me what you’ve been quoted. He’s Drew Construction-917-584-7286.
My husband never renovated the old ugly 80’s kitchen the whole decade he had his coop. We did some renovating in the months before we sold it. And when we did, he was sad he hadn’t done it sooner! Because he enjoyed the new sink and fixtures and new appliances.
Logic may suggest people would rather install their own kitchen anyway, whenever you do sell, but the reality is an old decrepit kitchen makes them hate a place and not want to buy it. So it’s lose-lose situation all around to just do nothing at all with your kitchen. As for buyers not appreciating the work done to the infrastructure — I totally disagree; brownstone buyers are savvy and do lots of research and they know the value of that work. Just make sure to point out it was done in your listing and in the literature when you sell the place. I’d even have a handout that lists in detail all the updates to mechanicals and infrastructure.
Try calling Anthony Riccio. We used him. He is a top kitchen contractor working in both Brooklyn and Manhattan and yet I think he’d give you a much better price on labor than the quotes you got from those Brooklyn places. That just seems high, like you’re getting charged some overhead for walking into a storefront place to get a contractor.
Anthony Riccio
Phone: 347.267.1681
adconstr@aol.com
You can find reviews for him on Apartment Therapy. As for cabinets that are better quality than Ikea but still affordable, ask the people at Park Slope Kitchen Gallery at:
233 PROSPECT AVENUE
BROOKLYN, N.Y. 11215
TEL: 718 832-0002
Steve, just checked out the link. Nice job. I am handy, but not quite as handy or I would do it myself too. Btw, I LIKE Ikea cabinets. They’re better value than most others. We’re not moving doors, just one window so it faces the pass through above the kitchen sink, so we get to see the yard from the kitchen. Doors are just being replaced. But, I like the idea of decreasing the scope of the work.
One more thing: if you’re gonna spend all that money, don’t cut corners on the cabinets. Nice cabinets have more “curb appeal” than Viking stoves and wine coolers. A good set of semi-custom cabinets will run about $300-500 linear foot for base cabinets and $75-200 for wall cabinets. A good place to go for kitchen cabinet ideas is The Great Indoors in Woodbridge, NJ.
http://www.thegreatindoors.com
Yeah, I did most of the work myself, including cabinet fabrication. It sounds like your quote involves a lot more than just a kitchen reno so the price looks better, although still a bit high.
A typical kitchen reno isn’t brain surgery. Even if you don’t do much of the work yourself, it’s something you can easily subcontract to a floor/tile installer, plumber and electrician and save yourself 20-30%. The countertop company will do its installation regardless and a cabinet retailer will optionally install them for you too.
Two contractors I can recommend are Steve Mann and Jim Lally (Galway Bay Contracting). I’ve worked with both here. Both are talented, honest and a fair-priced. Both will take forever to return your calls but once they start the job they’re freight trains.
Jim Lally: 917-523-1113
Steve Mann: 917-642-8525
On the high end ($$) there’s also John Michaels: 718-449-2700. He did a great job with my neighbor’s eclectic kitchen reno. But that was $75k by itself (all inclusive).
i think the big question should be whether or not you could still make the kitchen nice/liveable with a renovation of a smaller scope. is it a *must* to do all the infrastructure work? if you can leave a similar layout and just replace the kitchen, update the electric/plumbing and add a washer dryer somewhere, you’re looking at 35-40k not 150k. how much addtional value comes from moving the windows/entryway, digging down and pouring new slab/etc? that’s why your estimates are so much higher than what people are imagining.
Thanks all. To answer some of you questions, we live in the house. It’s a 3 story brick townhouse. It will be a gut renovation. Whether we sell is not definite, just a possibility, if we need to relocate. We may end up staying here. So based on your comments, I think I will renovate.
Now for the cost:
Apart from the infrastructure (which involves moving drains, lowering the toilet (it sits on a raised slab), pouring a new slab and digging down a bit, replacing the boiler with a high efficiency boiler and moving it to the back in the extension, replacing plumbing lines drains and electric, moving the sink, washer/ dryer hook-ups (there are none), installing a French drain, walls, ceiling, insulation, moving a window, new entry and patio doors and installing IKEA cabinets, stone countertop and mid-range appliances (no Subzero, Viking or Wolf), just GE and Bosch. The area is about 560 sq ft.
We have three estimates and the lowest for the labor not including the slab and French drain(and not fixtures, cabinets and appliances) comes to 90K. The highest is 117K with the slab and French drain, permits, etc. but not any doors or windows. I figured 150K with all the cabinets, appliances, 10% margin, etc. The boiler cost included is 13K. Are these figures too high? That’s the impression I get from your comments.
Steve, didn’t you do most of the work yourself? 4:44, when did you do your renovation? Where can I get these low figures? Can anyone recommend their contractors? I’m getting estimates from a neighborhood contractor, Metrodesign and AllRenovation.
Thanks again!