Is Renovating Your Home a Good Investment ?

All too often, we love a property when we first buy it, but when we come to use it over time, or as our family grows, certain rooms no longer seem fit for purpose. Kitchens are a classic example of this, and while we might think that a small kitchen is worth the compromise if the other rooms in the home are spacious, we often come to regret that decision as time goes by and we continue living in the property.

However, a small, outdated or unfunctional kitchen can usually be fixed by renovating it, and this type of project is typically the most popular of all home renovations. If you’re not happy with your current kitchen, but are wondering whether you should spend yourhard-earned money on renovating it, here are some factors to consider:

Will renovating the kitchen add value to my home?

As with any type of renovation, it’s important to seek professional advice before going ahead with the project, as they will have many ideas as to what exactly you should do to get the most return on your investment. For example, some small changes such as updating fixtures and fittings, or replacing the worktops, could bring more value than replacing all the electrical appliances or changing the shape of the kitchen. However, as kitchens are important spaces for the average homebuyer, a fully renovated kitchen will typically help you sell your home for more, when done well.

If I choose to renovate my kitchen, what shouldn’t I do?

As with the point above, a professional opinion will help you determine what you should and shouldn’t make part of the kitchen renovation process, but if you’re selling your home, since you don’t usually know the tastes of potential buyers, you should avoid adding anything that’s overtly stylized or ostentatious. Choose neutral colors, and go for clean, simple lines.

Should I revamp completely, or retouch?

If your kitchen is old fashioned, damaged in places or completely dull and uninspiring, then a full kitchen renovation may be called for, otherwise it could deter potential buyers, and if you don’t plan to sell, can you bear to live with such a kitchen? If your kitchen is an inconvenient space and doesn’t function as well as it should, then you may need to make some structural changes. But if your kitchen is a good shape and size, but just needs to be made to suit your color scheme and style, then a few simple renovations could be all that’s required. You could upgrade your appliances, change the tiles, paint the walls and adjust the lighting to help make your kitchen into the space you want it to be.

Renovating your kitchen is almost always a high return project, provided you think it through carefully and put your money into those areas where it’s needed the most. Any renovation project carried out without professional assistance, or in haste, is almost certainly guaranteed to lose you money.

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