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Does improving your kitchen add value to your home?
These days kitchens aren’t just for cooking in – many of us eat in them, socialise in them even watch TV and surf the net in them - making the kitchen one of the most important rooms in a house. But just how many people spend money on making improvements to their kitchen?
New research* carried out on our behalf, found that just over two thirds of homeowners have updated the kitchen in their current home. Of these people, almost two thirds have updated their kitchen once and the remaining third have made a number of improvements to their kitchen over the years.
Could a new kitchen add value to your home?
When looking to make improvements to your home, it’s worth thinking about how this will make your home more practical to live in, but also whether it will add value to your property.
According to recent research** from Zopa, the average home improvement could add around 10 per cent to the value of your home. The survey also found that making improvements to your kitchen could give a return on investment of 49 per cent, and a profit of £4,750. Based on this survey, the average cost of upgrading a kitchen was shown to be around £9,600.
So, with this in mind, upgrading your kitchen should help you to add value to your home, but you will have to spend a considerable amount of money in order to do so. If you currently cannot afford to spend over £9,000 on a new kitchen, then there are a few alternatives that you can do in the meantime to make your kitchen feel brand new.
Whether you’re looking to sell your home or just want to breathe new life into your kitchen, adding a fresh lick of paint to the walls is a great place to start. If you keep the colour of your kitchen relatively neutral, you can use the accessories and appliances in the room to brighten things up. Sticking with neutral shades will also help to make your home more attractive to potential buyers.
Similarly, you could spruce up your kitchen units by painting over them and replacing their handles with more modern ones. Hanging up pieces of artwork or colourful prints, will also help to inject a bit of colour into the room. To read more on how you can improve your kitchen, no matter what your budget, click here.
*OnePoll questioned a nationally representative sample of 2,000 adults aged 18 and over between 21st November and 28th November 2014, of whom 636 were Scottish residents.