The kitchen is the heart of a household, the centre of activity and according to TV property expert Phil Spencer, if you want to increase the value of your property and are only going to improve one room, make it the kitchen.
When you are looking at which home improvements add the most value to your home, it is worth looking at upgrading your kitchen. It is no secret that a brand new kitchen can be one of the priciest purchases you will make for your home – but it is also worth mentioning that a great kitchen will be one of the main selling points if you eventually decide to put your property on the market. So, how much should you spend on it?
Globally recognised as the heart of any home, kitchens are not just a place for cooking and cleaning. They are a social hub, where you can spend quality time with family and friends, sharing food and making happy memories. If a potential buyer can imagine themselves in your kitchen as the perfect place for these activities, it will heavily influence their decision.
On the flip side, if a viewer is unimpressed with your kitchen, they will already decide that the property is not suitable for them before they even see the rest of the rooms. Refurbishing your kitchen can create that desirable wow factor, which becomes an incentive for a faster sale. Of course, a kitchen makeover is also enjoyable for yourself as long as you live in the property.
There are many factors that can affect the actual amount of value that a new kitchen will add to a property. According to the esteemed real estate agency Savills, you can expect a kitchen renovation to add at least 5% to your property value, and up to 10% if it is in London. If you present a buyer with an up-to-date beautiful kitchen, not having to think about the added costs of remodelling it themselves could clinch the sale.
Any spend on your new kitchen should be proportional to the value of your property. Whilst a new kitchen will add value, there is no point in spending more on your kitchen than it is going to add value. If you want to add 5% onto the property value, you should not spend more than this on kitchen renovations unless you want to cancel out the potential profit when you sell up. If your kitchen is already modern and organised well, just spending a little on replacement kitchen doors can immediately improve the room without going overboard.
The kitchen is a space not just for cooking, but for dining, socialising, working, helping with homework and more, and buyers recognise this. However, it is not just any new kitchen that will increase market price, so if appreciation is your goal, you need to plan your renovation carefully.
Aim for a look that suits the space
You should always use a professional kitchen designer who can make best use of the space to create an appealing look. Good designers know what works and what does not, and should recognise when it is better to continue a home’s existing theme.
For example, an ultra-contemporary kitchen will not work for a traditional or period property with original features, such as the beams in this rustic space.
Designers also know what needs to be included in a design, and how to achieve this while still bringing balance to the look – you do not want to overfill your kitchen so it appears cluttered, but neither should you under-fill a larger space so it feels bare and unfinished.
Designers also know the kitchen layouts, styles and features that hold most appeal with homeowners, and also understand the reasons why they would be desirable. Taking on board such insight can only help when it comes to designing a kitchen which is a pleasure to use, as well as adding value to your home. RELISH KITCHENS are at the fore of assisting their clients with beautiful and practical kitchens, which not only meet their requests but also add excellent value to the overall property.
Design a functional layout
Along with an appealing look, equally important for a kitchen is a functional layout. A designer can advise on the best choice for making effective use of the space and creating a smooth workflow. Potential buyers will probably note the feasibility of the layout, particularly as they imagine themselves cooking and working in the kitchen.
Creating sufficient storage space is also crucial. Clutter-free surfaces create instant visual appeal, and again will also help potential buyers to picture themselves using the kitchen.
When it comes to planning your layout, do consider whether there is room for extending. In smaller spaces, perhaps you could take a wall down to open up the space, or maybe a side or rear extension might be a possibility. Remember that an extension would not only improve your kitchen by opening it up, it would also increase your home’s square footage, which in turn will increase its market value.