Brand-new or second-hand equipment when renovating a kitchen?

Discussion in 'Increasing the value of your property' started by nmb, Jul 18, 2016.

  1. nmb

    nmb Well-Known Member

    While the cost of a new kitchen can vary it is perhaps a lot more expensive than many people assume. So, if you were redecorating a property to rent out would you go for a brand-new kitchen or a good condition second-hand one?
     
  2. lookinginvest

    lookinginvest Member

    As they say “horse for courses” – it really does depend on what type of property you are talking about, the location and the target tenant audience.
     
  3. Personally I would go for a brand-new kitchen if I was renovating a property because this would be a long-term investment. Cutting corners in the early stages of redevelopment may save some money but how does it impact the long-term return?
     
  4. nmb

    nmb Well-Known Member

    I'm of the opinion that renovating a property does not happen very often therefore perhaps this is the perfect time to install a brand-new top-quality kitchen? Assuming the price is right.
     
  5. Josh Caldwell

    Josh Caldwell Josh Caldwell - American Real Estate Investor

    Tenants do not generally take care of property the same way that an owner will take care of it. For that reason I find the good used is less of a risk, but can have the same type of visual improvement that brings a higher rent.
     
  6. Longterminvestor

    Longterminvestor Administrator

    As long as the equipment is clean and well maintained then I see no problem with using second hand equipment. There are also companies out there who allow you to lease furniture and equipment which can be good for those with initial cashflow issues.
     
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