How Renovating Your Kitchen Can Add Value to Your Home

The best reason to renovate any room in your home is because you want to make it more comfortable or in-keeping with your taste.

However, it could also be because you want to improve the aesthetics of your home whilst you are living in it, absorb the costs of the renovation, and then, when you are ready to sell, reap the rewards from having a more valuable home.

That being said, when renovating, it is important to be smart about your investment. A new kitchen can add a lot of value to your home, but only if it is done correctly.

6 Reasons to Undertake a Complete Kitchen Renovation

1. It’s the heart of the home

The kitchen is one of the most used rooms in the home. It is the heart! Done well, the kitchen can become the true social hub of your property. That is why a well-designed kitchen is so critical.

It is the personality of the home, and if a potential buyer falls in love with this personality, you will have them hooked. It is also one of the trickiest renovations for buyers.

Changing the colour of the walls is simple, and re-arranging furniture is also possible without the help of professionals! So if you can offer future buyers a beautiful space that they want to keep exactly as is, then they may be willing to go above their budget because they won't need to think about renovation costs.

2. It’s the preferred renovation of choice among buyers

Buyers want beautiful kitchens. In a survey conducted by MoneySuperMarket.com, it was discovered that kitchens were the most desired renovation at 22%.

The second most preferred renovation? A garden makeover. With the position of many kitchens being towards the rear of the home facing the garden, this is your opportunity to really make a cohesive, stunning kitchen space that flows and enriches.

A garden can be purely aesthetic; it could have an outdoor dining area for those sunny summer days, and it could even have elements of a kitchen garden. All of these features work well alongside a stunning kitchen and will help you sell your home faster. The reason is because you aren’t just selling a property; you’re selling a lifestyle.

3. It adds monetary value to your home

Kitchen renovations add, on average, 5.5% to the value of your property so it’s important to be careful and not overspend on a renovation. An overly expensive kitchen will not automatically mean that the entire cost is added to the value of your property.

To put this into perspective, consider you own a property valued at £300,000. Adding a kitchen renovation that costs £100,000 is most likely not going to increase your property value to £400,000.

So, keep your renovation in line with the rest of your property. Typically prices for a basic new kitchen start at around £3000 and average out at around £12,000 to £15,000. It is in this range you will see the most value for your money.

4. It’s the fourth most worthwhile renovation

Kitchens are the fourth most worthwhile renovation in terms of value increase, coming in behind the following:

• Bedroom loft conversion, which offers approximately a 10.8% increase in value.
• Rear extension, which adds 8.8%.
• Conservatory, which adds 6%.

This means if you increase the size of your kitchen into a new extension on your home, you can potentially see a huge increase in the value of your home, and an improvement in both the functionality and design of your property.

5. It’s the most cost-efficient renovation

Of all the renovations listed above, a kitchen renovation also happens to be the most cost-effective, meaning you’ll get more value added to your investment. The average kitchen renovation costs between £3000 to £15,000, and spending that money can add 5.5% value to your home.

There are also plenty of opportunities to bring the cost down. If you are moving plumbing or electrical wiring, then you will need professionals, but if you have some skill in tiling or laying flooring then you can reduce the cost substantially.

6. A great kitchen can result in achieving the asking price

If your home is beautiful, with a fabulous kitchen which welcomes you as a true hub of the home, plus it’s also in a great location and does not require any work, then you potentially have the perfect property to bring in many interested buyers who will be happy to pay the asking price!

You may also be interested to read: 8 Essential Tips That Can help Sell Your Home

Selling Your Home? Get in Touch Today

For a free valuation of your property, please contact our friendly team at The Property Experts on 0330 179 8180.

In the meantime, we've answered some of your common questions about kitchen renovations.

Frequently Asked Questions About Kitchen Renovations

How much does a kitchen renovation typically cost?

The cost of a kitchen renovation varies depending on the size of your kitchen, the materials you choose, and the complexity of the project. On average, you can expect to spend between £3,000 and £15,000.

Will a kitchen renovation add value to my home?

Yes, a kitchen renovation can significantly increase the value of your home. Research suggests that a kitchen renovation can add around 5.5% to the value of your property.

What factors should I consider when planning a kitchen renovation?

Consider your budget, the size of your kitchen, your personal style, and the needs of your family. It's also important to think about resale value and choose materials and finishes that appeal to a wide range of buyers.

Can I do some of the kitchen renovation work myself to save money?

Yes, you can potentially save money by doing some of the work yourself, such as painting, tiling, or installing cabinets. However, it's essential to assess your skills and consider hiring professionals for complex tasks like plumbing and electrical work.

*Stats from Zoopla & Nationwide. All correct at time of publication.