Do kitchen renovations really add value to your home?
High house prices, the hefty cost of moving home and the increase in stamp duty on more expensive homes are encouraging home owners to improve their homes rather than pack up and move out.
According to the Office for National Statistics, 2017 saw 65% of homeowners opting to stay put and renovate. Plus, why would they, when it's estimated that a new kitchen will improve the value of your property by around 6%.
From extensions and big decorating jobs, to smaller, more budget-conscious updates that will help boost your homes selling power - the kitchen is the heart of the home and the centre of social activity; according to estate agents, this is why kitchens are commonly recognised as the biggest selling point in a home.
Storage is always a key factor for buyers, and the practicalities of a kitchen in particular can really have an impact on how favourably potential buyers view a house. It is important to the design of a kitchen simple and practical; if it's a small kitchen, be innovative with your use of space by installing clever storage solutions, keep colour schemes neutral, and keep clutter to a minimum. Integrated appliances look much neater than free-standing ones and under-unit lighting can make a big difference in creating the illusion of a larger kitchen space.
However, all homes have a ceiling price, so it’s vital to make sure that you don’t end up losing money by doing renovations that don’t, in fact, alter the value of your home – although they may well be worth it if they make your home a more comfortable place to live. To weigh up your options, Pat Altree from Orb Renovation says "When speaking to a specialist, it is important to give their team an idea of what you envisage, whether that be through a simple drawing, or images of kitchen styles that you like. The specialist will also require budget, and timeframes - this will help them create a kitchen space that matches your expectations, budget and time requirements."
Are you toying with the thought of a new kitchen? Give us a call for a FREE kitchen consultation