How Will Kitchen Renovations Affect Your Home's Value?

If you’re interested in eventually selling your home in Perth, you may have considered revamping some rooms to increase its value. However, it can be hard to decide what’s worth the time, money, and effort to update. Though it may be tempting to gut everything out and start from scratch, a typical remodelling project can cost thousands of dollars and take several months to finish.

In most cases, a simple renovation is usually enough to bring new life to your home. In particular, updating the kitchen is usually a safe bet, as it’s considered to be the heart of the home. Whether you’re cooking scrumptious dishes, enjoying your coffee, or entertaining guests, you’ll typically find yourself in the kitchen at least a couple of times a day. Hence, it’s no wonder why a thoughtfully designed kitchen can help boost your property’s final selling price.

The Effects of Kitchen Renovations In Your Perth Home's Value

Many buyers consider the kitchen as one of the top three most important spaces in any home. This perception may come about, in part, because it’s usually one of the first rooms they see during a house tour.

If you’ve had your home for a while, your kitchen might look outdated, sporting a style from decades past. The bad news is that many buyers believe older kitchens are worth much less than a modernised kitchen, even if everything is in working order otherwise. 

Fortunately, updating your kitchen with some key design choices can make it look as good as new. According to surveys, around 50 to 70 per cent of potential buyers said they are willing to pay more for certain kitchen features, such as new appliances or granite countertops. 

Due to the boost in perceived value, a well-renovated kitchen is indeed one of the best ways to significantly raise your home’s value. It can also help you sell your home more quickly if you need to quickly raise a lot of money.

Costs to Expect When Renovating Your Kitchen

Unfortunately, renovations don’t come cheap, especially if you want a complete overhaul.

On average, most budget renovation projects that keep the shell of the kitchen intact hover between AUD 10,000 to AUD 22,000. These usually cover small additions such as tiling a splashback, installing new light fixtures, or replacing cabinet handles. It can also include appliance and laminate kitchen benchtop upgrades.

Most of the time, though, standard renovation projects involve changes to the kitchen’s shell structure. These can include new flooring or even window and lighting replacements, though major features such as the general floor plan will stay in place.  These types of projects often fall between the AUD 20,000 to AUD 45,000 range.

The final cost also depends on the size of your kitchen. The average cost to renovate a kitchen that’s less than eight square metres is around AUD 10,000 to AUD 12,000, while one that’s 20 square metres could cost between AUD 20,000 to AUD 35,000.

These are just estimates, however. Costs for kitchen renovations Perth companies offer can differ wildly, depending on who you talk to. Hence, it’s always a good idea to shop around first so that you can get the best deal possible.

That said, you shouldn’t immediately hire the company with the lowest offer without determining if they’re a good fit for the job. A good rule of thumb to follow is that if it sounds too good to be true, it probably is.

Kitchen Renovations to Prioritise on a Low Budget

Walls

A brand-new paint job is one of the easiest, fastest, and most cost-effective ways to update any room. Simply picking the right colour and shade can already make a significant impact on your kitchen’s ambience.

You can save even more money by repainting the walls yourself. Interior painting jobs tend to cost around AUD 20 to AUD 30 per square metre, so you could save a significant amount by going the DIY route.

Cabinets

Changing up your cabinets can completely change your kitchen’s look and feel. If complete customisation isn’t a must for you, try going for more affordable stock or semi-stock cabinets instead.

In case your cabinets are still in great condition, though, you can just replace the front portion instead of replacing the whole thing. You could also try repainting or staining them to give them a fresh new look.

Countertops

While granite is a popular choice due to its resistance to scratching, heat, and moisture, it usually comes with quite a hefty price tag.

Instead of using this material for every single countertop, try using it on a high-visibility island. Then, use cheaper alternatives like ceramic tile and plastic laminate for the rest. You can also use leftover slabs of granite, which cost far less than full slabs.

Are Kitchen Renovations Worth It?

To figure out whether renovating your kitchen is a worthwhile endeavour, you’ll need to ask yourself why you wanted to do it in the first place.

If it’s because you’re planning on selling your home, then you can rest assured that revamping it can boost its overall value. But keep in mind that you may not necessarily recoup the exact amount you’ve invested in renovation. That said, you can minimise your costs by choosing only the renovations that will bring you the most bang for your buck.

If you’re updating your kitchen for personal reasons, the good news is that renovation can bring you a few unexpected benefits. For instance, people are more likely to spend time cooking in a kitchen that they love to use. Preparing more meals at home can help them maintain a healthier diet and overall lifestyle, as a result.

Additionally, many have found that a revamped kitchen has helped them spend more time cooking or eating together with their family. Though the renovation may not have been done to make a profit, it can definitely be a worthwhile investment for you and your loved ones.

All in all, revamping your kitchen can be a good move, if you know how to do it well. Not only can it make your home more inviting to live in, but it can make it much easier to sell your property on the market down the line, too. It all depends on what you decide to repair or replace, and how you go about it. With proper planning and research, you can pull it off even while on a modest budget.