Selling Your House
Add value to your Home with a New Kitchen
Phil Spencer as presenter of the popular property TV shows Location, Location, Location and Relocation, Relocation, has been finding properties for over 10 years and says: ‘If you are only going to improve one room, make it the kitchen.’
The kitchen is one of the most important rooms in any home and can make or break your property’s selling potential. A new kitchen can add between 5% and 15% to the value of your home. And even if you’re not looking to sell-up, a new kitchen could revolutionise your home.
Spicerhaart, the independent network of estate agents, revealed that a new kitchen is the most worthwhile home improvement. In a survey of real estate agents, 71% indicated that fitting a new kitchen is one of the three most worthwhile and value-adding improvementss to your home.
As it is, the housing market is particularly quiet and many people are taking the option to stay put and improve their home. Not only will a new kitchen benefit you in the short term, but it will also add value to your property for when the time does come to move on.
Phil explained that you need to invest in your home if you want to see the price rise. He said: ‘You can’t just sit back and wait for your house to make you enough money to move on. You are going to have to take active steps to create that extra value for yourself.’
The great part about updating your kitchen is there are so many options for you to consider. So no matter how much money you have to spend, you can enjoy a quality kitchen that’ll last for many years and be the talking point of all your visitors and guests.
Spending the right amount on a new kitchen is vital; spend too much and you won’t see the return but equally, spend too little and it’ll have a negative effect on the value of your home. Phil clarified the point, saying: ‘Put a $10,000 kitchen in a $1 million house and you will drag down the value.’
Finally, it’s vital that your new kitchen is correctly installed and finished. Botched jobs and bad workmanship can actually damage the value of your home, so select an accredited designer and installer to get the maximum return on your investment in a new kitchen.