Selling your home is a massive task. There’s the cleaning of spaces that haven’t seen the light of day in years, the sorting through of drawers full of stuff you don’t even remember buying, and of course there’s the question of the actual value of your home. This is the time to consider what improvements you could make to your property to raise the value.
Ask any real estate agent and they’ll tell you the facts – the kitchen sells a home more than any other room in the house. And it’s no wonder. The kitchen is the heart of the home, and it’s a place that brings people together. For buyers, the kitchen is usually the place they make a beeline for during a home inspection, and it can make or break their first impression.
If your kitchen is a bit on the dated side or not quite up to scratch when it comes to market desires, you may think about a kitchen upgrade. But how much value does a new kitchen actually add, and is it worth the expense in the long run?
Does a new kitchen add value?
The exact value that a new kitchen can add depends on a few factors, like the current value of your home, and the state of the market at the time. What is for certain, and what our DDK experts agree on, is that regardless of these factors an updated kitchen could see your sale price increase by anywhere between 4-6% of the value of your home. That means that a kitchen remodel on a $1,000,000 home could add up to $60,000 to its value.
In fact, a kitchen upgrade alone can increase the value of your home more than other renovations – and for less of a hit to your wallet, if you’re smart about it.
Getting a return on your kitchen remodel
If you’re thinking about upgrading your kitchen before selling your home, it can be a delicate balance between adding value and overcapitalising. While it can be tempting to DIY your kitchen makeover to save money, sometimes this can actually do more harm than good, particularly if you’re not confident or experienced. You wouldn’t want a stray handsaw hacking into your cupboards and dragging down the value, rather than the reverse.
Luckily, an excellent, affordable alternative is available in the form of the DDK kitchen facelift. At Dream Doors Kitchens, we pioneered the kitchen facelift so you can get the wow factor without spending the big bucks. The industry average for a kitchen renovation sits between $25-30K, whereas a DDK facelift is only an average of $10-12K.
We use as much of your existing kitchen structure as possible, then simply refresh the look and feel by replacing doors, handles, benchtops and splashbacks. You can well and truly keep within your budget, while still achieving jaw-dropping results that will have buyers swooning.
It’s an easy process too! DDK designers visit your kitchen for a site measurement, ensuring everything fits perfectly. They’ll help you make a plan for your kitchen, identifying the features that are most in line with what buyers are looking for. Once this is done, your new kitchen will be custom-made by local manufacturers using Australian Made High Moisture Resistant materials, before being professionally installed.
When it comes down to it, you don’t need a mammoth budget to give your kitchen a brand new look that boosts the value of your home. In fact, we’ve seen customers get a 4-6x return on investment with a DDK facelift, versus a 1.5 – 2x return with an average industry renovation. Get your kitchen modernised without breaking the bank.
Kitchen upgrades that add value
When you’re choosing the style of your kitchen upgrade, think about what your target buyer will want, and consider what’s in demand at the moment. Got a place suited for young professionals? A stunning benchtop, beautiful tapware, and ample space for entertaining will be well received. What about a family home? Plenty of easily accessible cupboard space and storage solutions might be more at the top of their wish list.
Making some clever design decisions will help you get a great return on your kitchen remodel.
Thinking about a kitchen upgrade before you put your home on the market? Speak to the team at your local Dream Doors Kitchens to find out how they can create your dream kitchen for less, in a way that will get you the best return on your investment.