02 February 2018

Does a new kitchen add value to my home?

2017 saw a big rise in demand for home improvements, with  (This link will open in a new window)65% of homeowners opting to stay put and renovate.

Home improvements can add extra property value by breathing new life into your home, but while there are a range of DIY adjustments you can make, some are more impactful than others.

According to the  (This link will open in a new window)National Association for Estate Agents (NAEA), if your budget can only stretch to renovating one room, that room should be the kitchen.

The kitchen is the heart of a home, so it stands to reason that this is the room most buyers focus on. It's estimated that a new kitchen will improve the value of your property by around 6%. We've investigated the different ways you can spruce up your kitchen and add immediate value to your home.

What to consider before renovating your kitchen

It's important that the price bracket of your kitchen matches the price bracket of your home. There's no point investing £20,000 in a fancy new kitchen if your property is worth £200,000 – you just won't get your money back.

Equally, if your house is worth £700,000 or more, but you scrimp on the cost of renovations, you risk dragging the price of your property down.

DIY is a more cost-effective approach to home renovations, but it is not without risk. Before you begin your project, map out exactly what is required, how much of that you can do yourself and what, if anything, will need the skills of a professional.

If all you're doing is painting the cupboard doors or adding new handles, DIY may be the best route to take. But if your vision involves complex restructuring, like putting in new floors and surfaces or knocking through walls, it's probably better to enlist professional help.

Before you begin designing your new kitchen, consider the style and age of your property and ensure your new kitchen is in keeping with the rest of your home. A rule of thumb is to keep it simple, stylish and clean-looking.

How to get the best out of your new kitchen

Focus on creating an attractive and efficient space by ensuring quick and easy access between the sink, fridge and cooker (known as the kitchen triangle). High street kitchen appliance stores such as Wickes offer free kitchen design services, which will help you to get the most of the space available.

Improve kitchen storage where you can and make sure there is adequate under-unit lighting, which gives a sense of space. Ensure the floors are well fitted and the kitchen is decorated in colours that look clean and are easy to maintain.

If you're planning to put your house on the market soon after renovating, it's a good idea to choose neutral colours and avoid anything too garish that might put buyers off.

Stainless steel appliances are easier to maintain and more popular with buyers than white ones. Wooden worktops are also a winner – they look great and add character to any kitchen space. Luckily, you can buy beautiful wooden work surfaces on a budget. Shop around for the best deal, or look to your local timber suppliers for a more rustic finish.

Cabinet doors can be re-painted or replaced without spending a fortune. Spring is the season for DIY, and many larger DIY shops will have sales on – keep an eye out for the best deals and think creatively about how you can maximise storage space.

How to pay for your kitchen renovations

If you're a member, you could use a Nationwide loan for your home improvement plans. You’re a member when you have a current account, mortgage or savings account with us. Find out more about membership.

Interest rates vary depending on how much you are borrowing and your individual circumstances. Take a look at our interest rates for 1-5 year loans.

So if you're planning a makeover, focus on the projects that will make the most impact and are right for your home.

All unsecured loans are subject to status and are available to UK residents aged 18 to 79 only. In order to be eligible to apply for a Nationwide Personal Loan, you will need to have a net monthly income of £700+. Nationwide Personal Loans cannot be used for business, investment or speculative purposes, as a bridging loan or a mortgage deposit or to purchase or retain an interest in land.

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