Michael Holmes, spokesperson for The National Homebuilding & Renovating Show (24-26 March 2017, NEC, Birmingham, www.homebuildingshow.co.uk) provides his commentary below on how to add value to your kitchen:
House sellers should not ignore their kitchen as for most buyers it is the most important room in the house. A tired and or dilapidated kitchen will devalue a property – assuming it is in otherwise good decorative order, as will a very dated kitchen or small cramped space.
Those looking to maximise value should consider spending on getting the space right first, by remodelling or possibly extending to create a kitchen diner, potentially with living space too, as opposed to just buying a new fitted kitchen – especially as many buyers will plan to replace the kitchen soon after moving in as a way of stamping their own mark on their new home.
If funds or time do not allow space to be maximised, then it is still worth getting plans drawn up, and to get planning permission in place, or a certificate of lawful development (or prior approval) from the local authority. This will crystallise some of the added value by proving to future buyers exactly what is possible.
Any improvements or update should be proportional to the value of the house. It is therefore unlikely to be worthwhile spending excessively on replacing the kitchen in a lower value property – instead consider giving the existing kitchen a makeover. The key is for the kitchen to look like it is clean and functional at very least – especially for first time buyers who will not have funds to replace the kitchen straight away.
Clever ways to give an existing kitchen a new lease of life include the following:
- Replace the worktops
- Replace the sink and taps
- Replace the tiles – or at least clean grout and use tile paint
- Replace kitchen drawer and cupboard fronts – or paint existing units
- Replace flooring
It is also a good idea to make sure the space is well lit, so consider upgrading the light fittings. A well-lit space looks brighter and more hygienic.
Additional space in the kitchen will add proportionately to the property’s value – so depending on post code area the space will add from £1500-25000/m2. The typical cost of adding an extension or remodelling is £1800/m2 plus VAT – again depending on location and specification of fixtures and finishes.
The key is making the property appeal to as many potential purchasers as possible, as this will drive up the price achieved on sale. A well designed kitchen extension providing kitchen, dining and living area is a key requirement for many buyers and so will add significant value – probably disproportionate to the bricks and mortar value of the extra space i.e. a great kitchen can add a premium, which some estate agents put as high as 10 per cent.