Put simply, Yes!….And there are certain things you can do within a home remodel to help make this happen.
Most estate agents and home décor professionals advise that the kitchen is the best room to makeover in order to add value to your home. The kitchen is the room where your family would spend most of their time, particularly within an open plan kitchen arrangement; this is the same for any future buyer/occupants so it makes sense to focus on this room as a starting point for change and improvement.
When buying a property, and especially within the buoyant London market, most people are doing so with a mortgage, so will likely be using up most spare cash they have. If buying a home in need of refurbishment this means they won’t have the funds needed to finance such works, whereas if the property has already undergone refurbishment the additional “cost” is already paid for as part of the house purchase.
Perhaps as much as 90% is financed by the buyer’s mortgage and it is this quirk in financing that creates an opportunity for adding value, disproportionate to a refurbishment cost. Once refurbished your home will appeal to many more buyers, and consequently command a higher price.
Here are some key measures for a kitchen remodel to increase house value:
Plan your kitchen remodel with care and with a set budget
Think about how long you intend to live in your home before selling it. The longer you intend to live there the more ‘personal’ or quirky your kitchen design can be. Whereas if you intend to move within a few years, perhaps keep to a more neutral, modern scheme that will appeal to more buyers when you sell up.
A budget is key and planning this carefully ahead of the project will help you stick to it, as well as avoiding any impulse decisions that won’t work! Particularly if you are remodelling for the very purpose of adding value then remember that you want to increase the sale value by more than what you are spending on a kitchen remodel, so plan carefully and don’t stray from your budget. Incurring a loss simply makes the whole exercise pointless!
Plan a suitable kitchen look to suit the space
Tired looking kitchens will always benefit from a redesign but in your planning consider what kitchen look and quality will be best for increasing your house value. Choose a kitchen in keeping with the specification a buyer would expect for a property equivalent to the value you seek.
For example, if you install a budget kitchen into a £2milion house, complete with laminate work surfaces and budget appliances, then no matter how good you think it looks, when making an offer a perspective buyer will “factor in” the cost of pulling it out and replacing with a higher specification kitchen. A quality kitchen with well-known, upmarket brands such as Siemens or Miele is therefore a worthwhile investment. Similarly, consider if you should maintain a home’s theme (if it has one). For example, ultra contemporary kitchens do not always work for traditional or period homes. They can look out of place, put off buyers or again force them to consider the cost of replacement within any offer to buy.
- Choose popular kitchen colour and styles for a kitchen remodel to increase house value:
It shouldn’t come as a surprise that modern, white handleless kitchens are a highly popular kitchen option.
This doesn’t mean they have to be ‘safe’ or boring, but it can help make a home easier to sell and increase the property’s value over more personalised kitchen colours and styles that won’t suit majority tastes. Whilst you may love a vibrant, bold red kitchen, this is not a widely popular option and estate agents and prospective buyers would most likely factor this in when valuing your property, accounting for the cost of a necessary redesign post purchase.
Likewise for wall colours it is advisable to give your home a fresh coat of paint prior to any viewings, and to choose neutral shades such as white or cream. Again, these colour tones satisfy most tastes and people also recognise them as being less likely to date with the passing of time.
However, if you feel you need colour in your kitchen but intend to sell within the not-too-distant future then add colour accents rather than permanent and expensive fixtures. For an all-white kitchen, this might include bold splashes of purple via accessories such as kettles, toasters, decorative ornaments, salt and pepper pots, or crockery. People may even recognise the potential to do the same but within their own preferred colours; it represents a low cost and quick means for putting a personalised stamp on a place post purchase.
- Plan the best possible kitchen layout
Ensure the best possible layout for a kitchen remodel to increase house value, and key to this is maximising on space.
Spacious, clutter-free kitchens offer optimal visual appeal and functionality, so start by considering the best viable location for your kitchen (which is not necessarily where it is now!) Is a garage conversion, basement or side extension possible that could suitably house a kitchen?
An extension would increase your home’s square footage (and house value) and allow for a spacious new kitchen! Alternatively, could you take out a wall to make the kitchen bigger, or which would create a more sociable setting for dinner parties? Less drastic than these options, you could simply rearrange your existing kitchen layout for easier access, increased storage, and a more practical arrangement for cooking.
- Carefully Plan kitchen functionality:-
Consider the items people place value on and be sure to include ‘must have’ kitchen furniture and appliances within a kitchen remodel, as buyers will expect their presence when viewing your home. For example, wine fridges or boiling water taps are luxury items, very nice and convenient to have, but not essential, because a normal fridge or kettle will suffice perfectly well for a lot of people.
Alternatively, a tumble dryer can be considered a ‘must have,’ especially if you have no outdoor space in which to hang washing. Potential buyers would recognise and place value on this appliance in such circumstances so implementing a washer/dryer is a better option than a washing machine without the drying function, even if it costs a bit more! Similarly, induction hobs are now more popular than gas hobs as they are easier to use, take up less space, and are safer, worth considering if your home is suited for families. Other ‘must haves’ include dishwashers and storage space, including easily accessible storage.
- Include recognisable kitchen appliance brands, synonymous with quality
As already mentioned, within a kitchen remodel to increase house value you should include reputable upmarket kitchen appliance brands that people will recognise, Consumers feel more comfortable with brands they are familiar with, so understand and place value on them, which you can in turn add to the value of your home!
However whilst a reputable appliance manufacturer is advisable, you do not need to include the highest available specification of appliances. Most people are not professional cooks and so do not require top grade appliances. Lower specification appliances will look as good in appearance, and still perform at a high level required to meet consumer needs. Use a make of appliances, such as Siemens who are known for their quality, but opt for their basic range of IQ100 rather IQ700 kitchen appliances. Buyers will note the quality of Siemens appliances, but not the detailed specification of each product. Whilst saying this, it is also worth adding that appliance choices should match in colour and appearance, to effect a sleek, unified kitchen look.
Incorporate plenty of lighting within your kitchen remodel
Lighting is key for a kitchen and the brighter and lighter your kitchen, the more appealing to potential buyers, and in turn, the more valuable your home will be considered! The effect of lighting should not be underestimated; it is one of the first things we notice when we walk into a room, and can impact significantly on how we feel!
Any new kitchen design is best located in a south-facing direction to receive maximum natural light and benefit from the warmth of the sun. Again, this affects how we feel, as sunlight is mood enhancing and energising. If a south-facing kitchen is not possible then choose lighter kitchen colours, (with white being the best option), and a gloss surface finish to maximise the look and feel of light within your kitchen. If still light-deficient, you can include spotlights, undercabinet lighting and other lighting effects. This is essential not just for a welcoming kitchen ambience but also for enhancing the cooking experience.
- Avoid costly but invisible improvements and instead go for clever cost-saving products
If you don’t intend to stay long term in your home then avoid costly measures that aren’t highly visible, or even noteworthy for potential buyers. The reason being that you simply won’t recover the expense of these within your selling price! For example, plumbing and heating systems are essential and people expect them in place (and working), but they do not expect, and won’t pay for top of the range heating systems including underfloor heating, and elaborate or universal control systems. It is better to avoid these and instead go for visible and clever cost-saving implementations that add value.
For example, incorporate a glass splash panel behind the sink and hob, and an up-stand elsewhere, rather than a fully glazed splashback. This achieves a full ‘glass look’ but without the expense. Another hint is to encase your kitchen furniture in plasterboard rather than use expensive lacquered end-panels for the ends of a furniture run; this still looks good but costs a lot less. Lastly, you can maximise kitchen cupboards over kitchen drawers; they occupy the same foot-print but cost a lot less. NB whilst this should help we advise against being too stringent in such measures, as should the kitchen appear impractical it will put buyers off!
- Beware Kitchen Feature pieces that might (but likely won’t) add value to your home
Feature pieces for kitchens should be approached with caution if you plan to sell your home in the not-too-distant future. As the saying goes, ‘Beauty is in in the eye of the beholder’ so what one person views a feature another may consider an eyesore.Unusual kitchen features such as integrated fishtanks can be absolutely stunning, but will not necessarily provide a return on your investment so better if you plan to live in your home longterm. (Image by Freshome) Kitchen islands, breakfast bars or decorative splashbacks can add value, but don’t waste money on touches that only you will appreciate! For example, you might have seen a unique Brazilian stone that you think would look great with an aquarium as a splash back…but you must stop to consider whether a buyer would be prepared to spend £20,000 more for your house, with than without this!
- Consider Eco-friendly and energy efficient options
It isn’t a priority for all but for some home buyers environmental concerns massively influence their decision-making process (and we know from our own experience it can be highly influential within customer’s kitchen designs). Bear this in mind when planning your kitchen remodel and consider what steps you can take to make your kitchen more eco-friendly. Which’s ‘Tips for a Greener Home’ is an easy to use website which will help you select eco-friendly boilers and appliances for your home. Even if the environment isn’t peoples top priority a boiler and appliances that will save money on bills, will always prove a draw and can add value to your home.
Presentation of your kitchen remodel is key
If you do carry out a kitchen remodel to increase house value then ensure it is fully complete and looking at its best when potential buyers begin viewing your home, so they can fully appreciate it. The kitchen must be clean, tidy, and ‘dressed,’ as an empty kitchen can feel cold and uninviting. Prevent your new kitchen from looking like a showroom kitchen by filling cupboards (neatly) displaying pot plants, a kettles, utensils, and you can even lay the table! All of this helps set the scene for future owners helping them visualise what it is to live in your home and make use of your new kitchen.
Final thoughts on how a kitchen remodel can increase your house value!
As initially ascertained yes, a kitchen remodel can increase the value of a house. There are no guarantees on this, but recognising the value and importance people place on their kitchen within the home is a first step towards success. Keep this in mind whilst carefully planning your kitchen remodel, stick to a set budget, be savvy about it, and the most likely result is that your new kitchen should increase your house valuation. We also recommend you seek advice from a professional kitchen planner in your redesign and if the primary goal is to produce a kitchen that will increase value (rather than one that best satisfies personal needs) then definitely let them know at the earliest possible opportunity.