The property market has its ups and downs, but houses generally hold their value and are regarded as a safe investment. If you are you looking at increasing your property’s value either as a home owner or an investor start with a well-designed, practical new kitchen.
- Your kitchen is a focal feature of your property. It can add to or detract from your home’s value
Whether you have bought your home as an investment or as your family home the fact is, it is a huge outlay- a lot of your money is caught up in just one item. So if you can make the value of the home grow then you can increase its equity. More equity means either more money to spend on your next home or in your retirement.
Adding a new kitchen
is one of the most effective ways to increase your property’s value as people are very nervous about how much it costs to renovate them.
However, in order to make a significant return on your investment, you must be aware of buyer’s expectations, current and future market trends.
is a focal feature of your property. It can add to or detract from your home’s value. A newly renovated, well-designed kitchen
can substantially enhance the property’s value, offering the highest return on investment of all home improvement projects. As a general rule you shouldn't spend more than 4-6% of your property's total value on your kitchen
To add value to your home, without overcapitalising, select materials that take your property to the principal market expectations—but not beyond them. The greatest risk for renovators and invertors in this market is spending too much money on the wrong thing.
Overcapitalising On Your New Renovation
Many people believe the latest designer kitchen
with top of the range appliances will bring them the maximum return on their investment. They don’t realise that appraisal value is more closely related to what buyers favour in their local real estate market. On the other hand if you are aiming at a specific market and your new kitchen design
and selections doesn’t reflect this, again you have waisted your money.
Generally people favour large, open spaces with quality materials and solid bench tops. If you live in a neighbourhood where, for example, laminate bench tops are in the majority, installing a solid stone bench top could be a waste of your hard earned money. It is a delicate art form to get the balance right between the maximum return without overcapitalising, while appealing to your market, and making you’re home standing out from the competition. But by making wise decisions, sensible selections, choosing a smart design
and appropriate materials, overcapitalising can be minimised.
Do you have an investment rental property? A new kitchen
can significantly increase your monthly rental income return. Even though a kitchen
renovation on investment property has tax benefits, you still want to keep the total costs down. Your goal is to create a good looking renovation, with low-maintenance finishes and durable fixtures. Choose reliable appliances in case of warranty or maintenance issues.
renovations can add value to your property if you are planning on selling. The key to a smart renovation is to understand the buyers’ wants without overcapitalising and turning it into your dream kitchen
. Similarly, when renovating an investment property, you should choose your materials wisely. With these guidelines in mind, you can ensure that your new kitchen
is a profitable renovation.
Having done all your homework, settled on a design
and selected all your finishes, if you are still not confident, the smartest investment you can make is to get professional advice. The cost of getting it wrong will be far exceed the cost of a professional service.
At House of design
we specialise in creating a mood for a space that helps potential buyers imagine and aspire to the lifestyle on display, and thus make the connection that leads to a successful sale. From there on in the home virtually sells itself. It’s how sellers and landlords achieve the ‘heart’ price, through the buyer or tenant making an emotional connection with a property and the lifestyle it has to offer.
- Designed by Agatha O | house of design - featured in Adelaide Matters
- Designed by Agatha O | house of design - Chefs kitchen
- HIA award winning display home designed by Agatha O | house of design - featured in Sunday Mail
We specialise in creating a mood for a space that helps potential buyers imagine and aspire to the lifestyle on display ...
AGATHA O house of design – interior decoration & design is an award winning interior design Company in Adelaide, South Australia writing about lifestyle and WHAT’S HOT in the world of interior design, architecture, art and travel.