Buying and renting out student properties can be a solid investment choice, with a regular income. Year upon year it’s likely your property will be highly sought after, in university towns and cities. However, it’s also important to consider what your return on investment is likely to be. Spending a fortune on revamping a soon-to-be student house, may not always be the best idea. Especially when it comes to the kitchen, which tends to be one of the most expensive rooms to renovate. So, are cheap kitchens a good idea for student letting? Let’s take a look.
The Pros and Cons
There are various benefits to investing in a cheap kitchen for your student property – or properties! Firstly, you’re likely to get a better return on investment. Spending less renovating a student house or flat means that you’re likely to make more profit in the long run. It will also be cheaper to carry out any repair or replacement work; something which you’re likely to see often in student accommodation. The only possible drawback with a more affordable kitchen is that your property may not be as sought after by potential tenants. This can be combatted by ensuring you pick a cheap kitchen that looks modern and inviting. Choosing the right style will make the kitchen seem far more expensive than it actually is.
Finding a Cheap Kitchen
Once you’ve made the decision to purchase a cheap kitchen it’s time to start hunting for the right one. Look for companies that are based locally and offer fitting services included, as this will save you money on delivery costs and labour. A quick Google search – for example, Cheap Kitchen Leeds – will bring up a range of different businesses to suit your needs. Look for reviews and testimonials, where possible. While you may think you’re saving money by investing in a cheaper kitchen, this may not be the case if the company isn’t up to scratch. If possible, ask if you can see pictures of previous work, or even visit a showroom. This will give you a good idea of the quality of the product. Finally, whittle it down to 2-3 companies and ask for their best price. You’ll have a cheap kitchen for your student letting in no time.
Things to Look Out For
There are a few things to keep an eye out for when looking for cheap kitchens, including:
- Reviews and Testimonials – We’ve mentioned it before, but it’s important enough to mention again. If the internet is awash with negative reviews of the company, steer well clear. Even if they are the cheapest!
- The Quality of the Kitchen – Your return on investment isn’t going to be spectacular if you’re having to replace the kitchen every year! Make sure you strike the right balance between quality and price.
- Extras – Do the company deliver? Do they offer a fitting service? Find out the cost of all the extras so you can compare those too. While one company may offer a cheaper kitchen, their extra costs may make them the more expensive option.
Cheap kitchens are a great idea for student lettings, as long as you follow our advice above. At least that’s now one room ticked off your list, at a price that is hopefully far less than you budgeted for!