How much value can a new kitchen add to your home?
If you are thinking of selling your home or just looking to increase the value in your property, then a good kitchen can be a really sound investment.
A new kitchen can add up to 15% to the value of your home.
However, the actual amount of value that you will add will depend on a number of factors including the cost of the work, the state of the existing kitchen and the overall value of your home.
A recent survey from Spicerhaart, the independent network of estate agents, showed that a new kitchen is the most worthwhile home improvement. 71 per cent of agents questioned voted fitting a new kitchen as one of the three most worthwhile and value adding additions to your home.
Dean Sanderson, chairman of the National Association of Estate Agents (NAEA) agrees: “Kitchens and bathrooms are key rooms in the home. First impressions count and a light and airy kitchen will definitely help towards securing a sale”.
However, any spend on your new kitchen should be proportional to the value of your home. If your home is worth £75,000 and you spend £20,000 on a kitchen refit, you are extremely unlikely to recoup that money in added value. Equally, if your house is worth £300,000 or more, but you scrimp on the cost of your kitchen, you risk dragging the price of your property down.
The money website whatprice.co.uk suggests using a budget of around 8 per cent of your home’s value for a kitchen renovation. So, on a £100,000 property, you should be spending no more than £8,000 to remodel your kitchen.
How to get the best out of your new kitchen
Before you begin designing your new kitchen, consider the style and age of your property and make sure your new kitchen is in keeping with the rest of your home. A rule of thumb is to keep it simple, stylish and clean-looking.
* Focus on creating an attractive and efficient space by ensuring quick and easy access between the sink, fridge and cooker (known as the kitchen triangle).
* Improve kitchen storage where you can and make sure there is adequate under-unit lighting, which gives a sense of space.
* Make sure the floors are well fitted and the kitchen is decorated in colours that look clean and are easy to maintain.
* If you are planning to put your house on the market soon after renovating, it's a good idea to choose neutral colours and avoid anything too bright or unusual that might put buyers off.
* Stainless steel appliances are easier to maintain and more popular with buyers than white ones.
* Wooden and stone worktops are also a winner – they look great and add character to any kitchen space.
If you are thinking about a new kitchen in your home, whether you are planning on selling or staying, please do contact us for a free kitchen design consultation.