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There are many reasons why a kitchen renovation is a good idea beyond the obvious lifestyle-enhancing benefits. A well-executed kitchen can help to future-proof your property, increase its value, and be a major selling point for potential buyers.
If you’re considering investing in your kitchen, whether it be through a new extension or remodelling your existing space, it could prove to be a wise decision. But you don’t have to take our word for it. We have consulted with three property experts, each bringing their unique perspective to the topic. Gather up-to-date insight on how much a kitchen renovation could increase the value of your home, current property trends and a list of kitchen features, sought-after by potential buyers today.
Annabel Blackett, Strutt & Parker Country House Department.
Many see the kitchen as the heart of the home. Families now use the space to eat, work, play and even relax, so a well-thought-out kitchen has become invaluable. The best ones are where style truly compliments practicality – aesthetically pleasing kitchens alone just don’t make the cut anymore!
Kitchens that retain the most value in the long term are often those that demonstrate great craftsmanship and have a timeless appeal – be that bespoke cabinetry, a stand-out larder or pantry with ample storage or a large traditional cooker like an AGA.
Renovating kitchens can be incredibly disruptive, so one finished to a high standard with wide appeal will be most attractive to potential buyers. A country house with an amazing kitchen can achieve anything from 10 to 15% in value, depending on the price of the house. It’s a room that most buyers aren’t necessarily keen to put their own ‘stamp’ on, unlike other rooms, so a good finish will hold its value well.
Mathew Walters, Co-founders of Story of Home.
The kitchen is the home hub, where memories are created with family and friends. When speaking to buyers, a fluid, functional kitchen and living space are always at the top of the wishlist. Renovating your kitchen will almost always add value. However, there’s no magic formula to quantify exactly how much uplift you can expect on the property value from a renovation.
If you’re considering renovating your kitchen with a view to selling the property in the short or medium term, it’s important to have potential buyers in mind. A property purchase is as emotional a decision as a financial one, and buyers should be able to visualise themselves living in a space. This is the lens through which we present all of our properties at Story of Home.
If you live in a two-bedroom flat in London, consider that future buyers could be young professionals, or a couple with a small child, or even a bachelor that wants a bolt-hole in the city. The kitchen design should appeal to all of these potential buyers, in order to maximise future sale potential.
In recent times, the property market has seen a shift in trends, with many homeowners opting to renovate their existing homes rather than move to a new property. This change in behaviour has been attributed to various factors, including rising house prices, the desire for more space, and the COVID-19 pandemic. To better understand this phenomenon, we have sought expert opinion from Mathew Walters, co-founder of Story of Home, a leading home renovation and design consultancy.
Mathew Walters, Co-founders of Story of Home.
The Covid-19 pandemic and resulting ‘lockdowns’ prompted people across the country to focus on DIY and home improvements. Consumer spending nosedived during the pandemic, as shops and restaurants shut, and travel became largely prohibited. With this spare cash, British consumers spent an eye-watering £110.3bn on home improvements during the coronavirus pandemic. According to data from Powered Now, an app for tradespeople, this represented an increase of nearly 30% from the previous year.
Homeowners and renters alike want functional, design-led spaces to live and work. They want living spaces that reflect their personality and fit their lifestyle. Finally, interiors are a hugely popular category on social media today, which has undoubtedly played a role in the popularity of home renovations!
Christopher Burton, Head of Sales in Knight Frank’s Dulwich Office.
I’ve never heard anyone complain there’s too much storage. People love bi-fold breakfast and walk-in pantry designs – both are remarkably functional ways to store a lot of food while keeping the kitchen stylish and clean by closing clutter away. Extractor fans that aren’t at eye level are also becoming increasingly important, so they don’t get in the way of socialising. There are also still too many new kitchens with only a single basin, this seems limiting and can put buyers off.
Annabel Blackett, Strutt & Parker Country House Department.
Our annual Housing Futures survey asks people looking to move in the next five years lots of questions about their future home. We always ask about the ‘dream’ kitchen item on people’s tick lists. In first place this year is the statement kitchen island, which is no surprise – they really do become the heart of the kitchen. They are places to stop and have a cup of tea, where family and friends can pull up a seat or simply have extra worktop space to prepare meals.
In second place is the American-style fridge/freezer. My favourites are those that are hidden behind integrated cabinetry to create a really seamless design, and those with big double-width drawers to avoid the dreaded freezer ‘digging’ that happens.
The third most aspirational kitchen feature is a pantry or larder – people have fallen back in love with cooking and entertaining at home, so super slick storage has made a comeback. A walk-in pantry will always be desired. It is a true mark of a quintessentially English kitchen.
If you’re looking for home inspiration, our brochure is here to help. Full of beautiful real home projects, it’s bound to help ignite ideas.
We’d like to thank our blog contributors: Annabel Blackett from Strutt & Parker Country House Department, Mathew Walters, Co-founder of Story of Home and Christopher Burton, Head of Sales in Knight Frank’s Dulwich office.