Home improvements, particularly the addition of a new kitchen can breathe new life into a property , while also adding considerably to the overall property value.
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.
As Spencer said in an interview with the Daily Telegraph, “The kitchen has now become the showpiece area of the home. We don’t just cook in it, homework is done in the kitchen, we watch television and we hold dinner parties there. So, a good kitchen is top of the list for many prospective buyers.”
A kitchen is often the first thing a buyer needs to replace if the existing kitchen is not up to scratch, so if you can provide a ready-made, comfortable attractive and efficient space, buyers may be willing to pay more to save themselves the hassle of having to install a new kitchen.
When installing a new kitchen the number one priority is to create an efficient work space that flows. With the increase in size of the average kitchen the original idea of kitchen triangle is somewhat challenged. This is where the kitchen island, a must in so many kitchens, comes into its own. It not only gives you additional work space, but offers a sociability factor when designed to accommodate stools. The increasingly popular placement of a ‘prep’ sink, on the island helps to create a vital link between the fridge and larder area of the kitchen back to the cooking station and sink.
Install equipment that is as up to date as possible, and make sure the price bracket of your kitchen matches the price bracket of your house. Typically, a new kitchen will add between 5 – 7 percent per cent onto the value of your home, so do the maths!
Annabel Slater, senior designer with Newcastle Design offers the following advice, “Ensure you do your homework with appliances and choose the correct models for your style of living. For example the steam oven is gaining hugely in popularity, particularly in replacing microwaves, offering an affordable means for cooking food quickly and easily, but with the added benefit of being healthier.”
If you’re renovating your kitchen with an eye towards selling your home, we recommend seeking professional advice. Make an appointment for a consultation with one of the Newcastle Design team and let them help you maximise the value of your home.