As previously mentioned in an earlier Interior Design Blog post, the kitchen is the social hub for the majority of homes. It is where people hang out for a tea or coffee, gossip with or entertaining their friends and where meals are prepared and eaten on a daily basis. A lot of people know that the kitchen is a valuable home asset, not only as a key feature in your home but also in valuation terms for your property. The big question is though, how can you maximise the potential of the value of your kitchen, without going too far and losing money.
As a central feature in your home, the kitchen is the key place that potential buyers look and also the main focus for friends and visitors. This means that in order to be a successful area of the home, the effective use of space and planning are crucial. This doesn’t necessarily mean that the room needs to be large with vast amounts of space; an extensive kitchen that has an ineffective use of space can be just as off-putting as a small or narrow kitchen. Potential buyers want a kitchen that not only suits the style and floor area of the house, but also suits the size of the room and the ease at which the room can be used.
Ask anyone who enjoys cooking and they will tell you that the size of the kitchen isn’t as important as the ease of its functionality and the amount of pleasure it would give when creating a culinary masterpiece in the room. Obviously the amount or worktop space and storage is essential, but this can easily be achieved with a bit of clever packaging and styling from a good kitchen designer. A more important factor is the little details that are often overlooked when discussing a new kitchen, yet they are taken for granted when executed successfully in a fantastic kitchen. Details like good quality soft close drawers and cupboards, integrated yet quiet and efficient appliances, and clever storage arrangements can make more of a difference to the effectiveness of a good kitchen design than the size or number of cupboards.
Another important factor to a great kitchen design is the quality of the materials specified. Ill-fitting cabinetry or ineffectively integrated appliances will easily spoil even the greatest looking kitchen design within a few days of frustrated use. Making sure the finest quality craftsmanship and robust yet stylish materials are selected will ensure the effectiveness of the kitchen for years to come. Property website Freshome.com states that spending money on quality cabinetry and finishes is a sensible move when it comes to the value of your home.
They say that the kitchen is the most sought after room for potential buyers and that although cabinetry is the biggest percentage cost of the kitchen, it also shows the most return on your investment. This means that something as simple as choosing solid or real wood over laminates or low quality veneers would dramatically improve the potential value that your kitchen would create for the rest of your property.
A factor that potential buyers of your property will also appreciate and it has the ability to sway their decision when it comes to purchasing a new home. According to property expert Phil Spencer, if you’re going to improve any room, make it the kitchen. A recently revamped or good quality kitchen can instantly add 5% in value to the price of your home, not only that but potential buyers will instantly be swayed by the fact it is an area of the home that needs no improvement after purchasing the property.
Obviously the value and expenditure on a new kitchen needs to suit the value and style of the property that it is being installed in. It is no good creating a large kitchen and going to great expense without the room fitting the price or the size of the rest of the house.
If anything this may actually detract from the value of your home, and potential buyers may be put off when considering the rest of the home they are viewing. A large outlay of expenditure on a kitchen that excessively exceeds the value or size of the rest of the property, will not reward the homeowner with a relative percentage increase in property value compared to a kitchen that suits the rest of a house.
All of this means that if you are considering improving an area of your home, without expanding the footprint or converting any loft space, and looking for the greatest return on investment, the kitchen is definitely the best place to improve. As a room that is most sought after by potential buyers, the quality and effectiveness of a well-designed kitchen will ensure that any expenditure will reward you with an increase in the value of your property. Also, as a room that is often the most used out of all rooms in the home, it is a worthy investment for anyone’s property, even if you are new tenants or not reliant on an immediate resale value.