investing in granite in co-op?

We just bought a co-op in Mineola and our cabinets were delivered this week! YAY. We have 60 sq ft of counterspace and the estimate for granite is $3000. In your opinion for resale value in a co-op, does it matter if it's granite or not? In the scheme of things it's not a huge sum of money, but for now I'd rather have the 3k in my account and save the granite for my 'real' house in 5 years or so... what are your thoughts on this? if you say no to granite, what would you do instead?

Re: investing in granite in co-op?

IMO, if you're planning on buying a house in 5 yrs, I would put in a less expensive countertop in your co-op.

Re: investing in granite in co-op?

IMO, it's not worth it, especially if you will only be there for a couple years.

How bout a less expensive alternative like manufactured granite, especially if you like the look of it. Lowe's and HD both carry it..

Re: investing in granite in co-op?

We put granite in in our condo-- and a tiled backsplash, and SS appliances. IMO I felt that a-- do it now so we can enjoy it and b- it was imperative for resale since there is so much new condo construction where we live. Anything to make our place stand out.

We only plan to be here for 5 years-- well, I guess at this point, 3 more years.

Re: investing in granite in co-op?

I am in the same situation as you! We are redoing our co-op this fall and plan on moving in about 5 years. We were debating between Corian and granite and decided to go with granite. The main reasons are that I like granite better and the difference in price was really not that significant. Plus, we plan on keeping our apartment as investment property (we will be renting it out).

I think if you don't do granite, I would do another solid surface such as Corian or silestone. We currently have a tile countertop that I would NOT recommend!

Re: investing in granite in co-op?

Re: investing in granite in co-op?

It's actually an older building with mostly older folks so I have a feeling that there's not much granite going on....

I want to enjoy it but don't really want to spend so much, however Corian or silestone are only $5/less per square foot than the granite. Is there something out there that is half price and nicer than a lamniate? something about $20/sf?

Re: investing in granite in co-op?

what kind of kitchen do you have?? Can you buy pre-cut granite that is cut counter-depth already? We had a unique shape and needed two slabs so we spend about 3800 on granite...

Also-- if you are not very particular about the color/tone-- you may be able to find something at a cheaper price. I would check out some granite yards and see if you can get any specials, etc.

IMO- if you are going to do it-- do granite. You get something like a 200% ROI.

Re: investing in granite in co-op?

We renovated our kitchen in our co-op and had the same concerns. We chose to go with a laminate, which was cheap and still looks nice. Most of the units in our complex still have original kitchens, so a more expensive countertop wouldn't really affect re-sale.

Image Attachment(s):

Message edited 6/26/2007 10:12:53 PM.

Re: investing in granite in co-op?

We are going to need 2 slabs unfortunately so I can't do scraps... we have a breakfast nook that is an L... we got a price of $2700 with the sink and a beveled edge from a family friend on tan brown granite....

Re: investing in granite in co-op?

Do you think putting granite in could HURT our resale?? The way I look at it, I want to make this place as nice as I can so that someone really wants it when we leave and so that it stands out... putting granite in isn't going to raise the price 10k, but have you ever heard of an upgrade not being appreciated and hurting the sellers? just trying to explore all angles...

Re: investing in granite in co-op?

try going to a place that sells remnants of granite or granite tiles. the tiles look really nice (I've seen it done many times on HGTV) and cost a fraction.

Re: investing in granite in co-op?

I really don't like laminate worktops, but I don't think it wuold put me off buying a place if the price was right.

But, how about wooden worktops? Difficult to care for, but definitely cheaper than granite.

Re: investing in granite in co-op?

Re: investing in granite in co-op?

Not worth it. We redid our kitchen and put in laminate countertop. We sold it just fine and the girl who bought our co-op loved the kitchen...

Re: investing in granite in co-op?

Re: investing in granite in co-op?

If you're planning to move in 3 years, I would save it for your permanent house.

Having granite in a kitchen wouldn't make or break a condo purchase - IMO.

Re: investing in granite in co-op?

How much is a laminate going to cost you? I would evaluate the price difference and see if it is worth it to you. It's not like the granite is going to cost $3000 more right? the laminate might still end up costing $1500 and then the difference might be small enough for you to justify it.

On another note - I had silestone and I loved it. Right now we have Corian and i HATE it. I would steer clear of corian!

Re: investing in granite in co-op?

They have granite tiles that cost less, but would give you a similar look to the slab of granite. Or you can put a different kind of tile down. Sometimes you can find closeout deals at HD or Lowes, the stuff that is going out to make room for the newer stuff coming in. IMO, I would just do the laminate at this point. If you knew that the other co-op's had granite then I would go for it, but if you are thinking they don't, just a newer laminate would be nice for a new homeowner. GL!

Re: investing in granite in co-op?

I think it also depends on the price point/market that you're in. When you sell, will you be selling to frist-time homebuyer? What are the comparables going for in your market? Will your buyer be looking for granite at your price point?

Re: investing in granite in co-op?

Do the granite - i got it for my house and love it - but i'd also get another estimate. I needed about the same amount and think I paid about $2300, including a SS sink and 3 inch granite backsplash

Re: investing in granite in co-op?

Robyn -- who did you use that you got that price? we have been looking and have not seen anything lower than $45/sf....

Re: investing in granite in co-op?

We went through the same dilemma. We just had the apartment appraised (cash out refi) and it came in at the top of the range for renovated co-op. I redid the kitchen years ago with laminate.

We are upgrading to granite. We don't plan to sell anytime soon but if/when we sell I think that having a nicer kitchen than the competition could help. If it's in the budget, adding granite can't hurt

We are also adding a dishwasher. We did not know they were allowed until we saw a neighbors renovated kitchen (granite, lots of added outlets and an OTR microwave).

We are looking at 67" x 26" of granite for one side (with the sink)


And the other side is 74" (but shallow so 13" deep)


As of now the granite I like is about $67 psf installed. The place we visited has a few colors of granite for $45 psf installed. I have yet to find anything lower. I have not looked at remnants yet though.

Message edited 6/27/2007 4:49:13 PM.