Recently, we have been spending most of our days at home. So naturally, a lot of people use this extra time to start on the long-postponed home improvement projects. These vary in nature but always bear two important positives – increased comfort and added monetary value to a house. And today we will dissect the topic on how to add value to your home with a kitchen and will expose the frequent roadblocks that homeowners face. So if you are looking for a project that increases your home’s value, read on.
What adds value to a house?
1. Converting a garage – if you have a garage which you don’t use, it’s only sensible to refurbish it into a room that serves you a purpose and not use it as a junk room. Converting a garage can add up to 20 per cent value to your home.
2. Refurbishing the loft – this project can add up to 15 per cent more monetary value to your house but is tricky to accomplish. The loft needs to become an integral part of your home and you may need to sacrifice valuable space from the floor below. There are other caveats to this idea, most of which should be discussed with an architect and engineer.
3. Making a new kitchen – adding value to your home is easy with a new kitchen – you can either refurbish an existing space or create an entirely new room. We love this idea not only because a new kitchen can add immense value to your house but also because kitchens are the heart of a home. They are the gathering point of the entire family, so house hunters rarely look to remodel an outdated kitchen. With the proper planning and good execution, your kitchen project can secure you a great deal for your house or bring you years of joy, if you don’t plan on selling your home.
How much value does a new kitchen add to your home?
On average, adding a new kitchen can boost the price of your house by at least 4 per cent and reach up to 15 per cent. However, the calculation is more complicated than this, because you need to factor in variables such as the cost of materials, labour, and other components. The general principle is this: if your current kitchen is too old, a brand new room will add more value, however, if your kitchen is in a relatively good condition, then spending a fortune on replacing it will not give you much return on your investment.
So, what percentage of your house value should you spend on a kitchen?
The cost of a new kitchen should be proportional to your home’s value. A good rule of thumb is to have a kitchen renovation budget of 8 percent of the entire value of your house. So, for example, if a kitchen renovation comes about £20,000 and your home is worth £75,000, then you won’t be able to recoup the money in added value.
How to add value to your home on a budget?
Refurbishing an existing kitchen is one of the best ways to add some value to your property. But which tasks will give you the most return on investment? Here are the projects that add the biggest value for a kitchen:
- Change the worktops;
- Replace old appliances with new ones;
- Utilise the space for extra storage;
- Replace or revamp existing kitchen cabinets;
- Add a fresh coat of paint.
Most of the tasks above are DIY-able or at the very least will not break your bank but will still refresh the appearance of your kitchen.
If you are planning a kitchen refurbishment project, make sure to check BathBarn’s catalogue, as we have a rich selection of products that can aid your task. Additionally, our experts can give you invaluable advice on materials, current trends, cost-effectiveness and more. Get in touch today to start your kitchen remodeling project!