It’s one of the biggest questions that homeowners ask: Is a kitchen extension a good investment? Although the simple answer to the question is ‘yes’, it’s not quite as straightforward as that. There is a lot to consider and there are plenty of things to weigh up. What follows is a comprehensive guide that contains everything you need to know about kitchen extensions. Not only does it cover the key question of whether a kitchen extension is a good investment or not; we also look at other key things to think about. These include the reasons you might want to extend your kitchen – and how a kitchen extension stacks up against other home extensions.
Why is the kitchen such a major selling point?
The kitchen is a vital part of any home. That much is obvious. For decades now, all the homebuyer research, studies and surveys out there have pointed to that. The kitchen, in any prospective purchase, has been seen as something of a dealbreaker. Homebuyers can overlook many things about a property: dated décor in the lounge, bedrooms that are a little on the small side – even the general point that ‘it needs a bit of work’. However, most homebuyers aren’t prepared to compromise when it comes to the kitchen. People want a kitchen that suits their needs and works for them from Day One. The last thing that anybody wants to be doing anytime soon when they move into their new home is to be thinking about ripping the existing kitchen out and starting all over again.
Has Covid made the kitchen more important than before?
Of course, the Covid pandemic changed many things. It affected everybody and virtually all industries. Some – such as the hospitality and travel industries – were decimated and are still struggling now as a result. However, one industry that didn’t suffer as much as most was the home improvement industry. This might, at first, seem a little surprising. But when you step back and think about it, it makes a lot of sense.
Lockdown meant that people were forced to spend more time at home. Therefore, we realised, even if we hadn’t before, how important it is to have a comfortable home. For many, the home became a workplace too. That added another dimension to the equation. The home now needed to be many things performing several functions. There was another twist, as well. Although many people suffered financially and had to rely on furlough, it’s also true to say that many households found themselves with more disposable income. As families couldn’t take holidays abroad, they decided to spend the money that would’ve gone on the big family holiday on home improvements instead.
A great kitchen? Outdoor spaces nearby? Broadband connection?
A report carried out by Market Financial Solutions (MFS), Homebuyer Wishlist 2021, showed how much the pandemic had influenced the thinking of homebuyers. It was found that 92% of UK homebuyers thought a garden or outdoor space was either ‘important’ or ‘very important’. This was the most important factor of all. The previous survey, carried out two years before and pre-pandemic, had cited square footage as the most important factor for would-be home buyers, at 89%.
So, if square footage is no longer deemed the most important factor, does this mean a kitchen extension is no longer a good investment? No, not at all. Yes, it’s true that the pandemic has altered people’s perceptions of what they want and need from their homes. As we all spent more time in our own homes the need to have easy access to a garden to socialise increased. It is also great to have public open space nearby to exercise. Socialising and exercising are now central in our minds. Similarly – because of the increase in remote working – the need for an excellent broadband connection is now seen as more important – and good transport links, less so.
But where does all this leave those weighing up their options regarding a kitchen extension? Well, the clues are in the fact that more of us are now working and socialising at home.
The kitchen is still VERY important.
Is a kitchen extension a good investment to make?
Although the specific reasons for having a kitchen extension may vary from family to family and home to home, there are some key advantages that remain consistent across pretty much all properties. This is because the end result – regardless of the style and design you choose – will be the same. You are left with a far more spacious kitchen. You have a dining area and open-plan space that is ideal for entertaining, family gatherings, and comfortable living, in general. What’s not to like?
A spacious, bright and comfortable kitchen space will naturally improve the overall feel of any home. But as an investment, is a kitchen investment definitely a smart move?
What is the average return on investment?
Obviously, there are several factors to bear in mind and a while of variables to take into account. The cost (and return on investment) of a kitchen investment will be affected by various things. These include the type of building, your location, how complicated the project is, the quality of finish, and the time taken to complete the work. However, as a rough ballpark figure, if you view a kitchen extension as a medium to long term investment, the average ROI is as much as 70%+ after 5 years.
Typically, the value of any property will rise over time. Therefore, as long as your extension is still seen as aesthetically pleasing and in keeping with current trends, it will add value to your home and represent and excellent investment. A standard one-storey kitchen extension can expect to add between 5% and 10% to a property’s value. Unsurprisingly, a more extensive extension – such a two-storey extension with an extra bedroom over the kitchen – can add even more to the overall value. This can be as much as 20%+. One crucial thing to remember is that the extension needs to be in keeping with the rest of your home’s design – and also similar in style to nearby properties. Creating a unique looking extension that doesn’t fit into its surroundings will lessen the potential return on investment.
This doesn’t mean that your extension shouldn’t be designed with your family and their needs in mind. It just means that you should not make things too personal or quirky. As everyone knows, a certain degree of neutrality in terms of style and interior design choices is always the best bet when it comes to the business of home selling.
Avoiding common kitchen extension mistakes
Nothing to do with home improvements is a licence to print money. Indeed, there are always a number of pitfalls to avoid with any major project you undertake. Failure to do so could easily mean you lose money rather than see any worthwhile return. So, what are the common mistakes that can lower your potential profit? These are the kitchen extension trapdoors that you need to avoid.
Building an extension that isn’t in keeping with the existing building
Mistake Number One that can end up costing you a lot of money is building an extension that isn’t in keeping with the rest of the property. If you have the budget, you may be pulled by the desire to be extravagant. However, it is really important that any extension blends seamlessly with the rest of the house. The gained space needs be utilised carefully and effectively. Proportion is everything. If the new room seems oversized and feels empty in comparison with other rooms in the house, the overall feel and flow of the home will not seem right. This is why any proposed kitchen extension should be planned and thought through very carefully. Any prospective homebuyer will consider a property’s functionality and design.
What’s more, never underestimate just how important the feel of a place really is. When people view a property, ‘the vibe’ they get when they walk around really does go a long way.
The cost of construction rises too much
It is fair to say that certain types of houses are better suited to having an extension than others. This can often help to keep the costs of extension projects down. For example, many Victorian and Edwardian properties have something called a ‘side return’. This, essentially, is a gap in a side of the house. Naturally, this is a really convenient way of making use of unused space. It also means that designing an extension will be relatively simple and straightforward. It should also mean that it should be easy to ensure that the design is in keeping with the overall look of the house. Wrap-around extensions and 2-storey extensions (including the kitchen) will obviously be cheaper – and easier to blend with the existing style and design of the property.
Increase your kitchen space to increase your home’s value
Open plan living has become increasingly popular in recent years. Not only that, the need for a separate dining room in the home seems to be all the more outdated as the years go by. In the same way that hybrid working has been pushed to the forefront of people’s minds because of the pandemic, the traditional lines of family living in the home have become blurred too.
Lockdown got people thinking. It made many people realise that they didn’t need to commute to the office to do their jobs at all – at least not all of the time. It was quite a dramatic jolt to the system when all things are considered. In a different way, family life has evolved over years. Open plan living has become the most comfortable – and most desirable – way to live. For many people, it’s the need for open plan living that leads many homeowners to consider a kitchen extension.
It is obvious that a bigger kitchen is something that both new and existing homeowners crave. But how much value can be added to your home through an extension?
Well, it does vary. If you are opening up a particularly small or narrow kitchen, an extension can add as much as 20% to the average UK property. However, it is true to say that you won’t add much value if you are simply extending a kitchen that is a fairly decent size. Having said that, although it might not add a significant amount of monetary value, it will undoubtedly make your property more appealing. Because of this, a kitchen extension will always be a good investment.
How do different types of extensions compare?
For many homeowners, the decision to make between moving house or extending the property you are currently in is a massive dilemma. As we’ve mentioned already, the pandemic lockdown meant that we had to spend the majority of the time in our own homes. This made us re-evaluate our needs, It made us think hard about whether we really had the space we wanted. As the kitchen is such an important part of the home, thoughts in many households naturally turned to the idea of a kitchen extension. Of course, extending the kitchen isn’t the only option for those wanting to create more space in the home. So, what are the best value-adding extensions? What sort of extension will give you the biggest return on investment? These are all really sensible questions that you need to ask yourself before you make any hard and fast decisions about any type of extension for your home.
The best value-adding extensions for the home
The best value-adding extension for the home will always be an extra bedroom. That will probably never change. It has always been this way. However, a bigger kitchen comes in at a pretty close second. An extra bedroom adds about 20% to the value of a property. A bigger kitchen, meanwhile, tends to add 15-20% in value. A loft conversion can expect to add around 15%. Simply adding more living space should increase the value of a property by around 10%. Finally, adding an extra bathroom usually adds around 5% to the overall value of a property.
More figures to consider about a kitchen extension
To get an accurate evaluation of how much value your proposed extension could add to your home, it’s always best to consult local property experts and architects. Local knowledge and expertise means that you will get the best professional advice. You need to establish what the current market value of your home is. Then find out what the potential might be, according to the design plans you have, once the changes have been made.
Loft conversions remain a popular option. This largely stems from the fact that they are one of the most affordable extension options around. Not only that, a loft conversion can add as much as 20% to the value of your home. This is as much as an extension to add an extra bedroom can add to the value of your home. However, in terms of the quality of day-to-day life in the home, few options stack up as well when compared with extending the kitchen.
If a new baby has arrived and you find yourself with another body in the home, an extension giving you the extra bedroom that you need might well be the most sensible option. But opening up the kitchen and bringing open plan living to your home will have the greatest impact on family life. In that respect, a kitchen extension will always be a good investment. You can’t really lose.
Similarly, when the time comes for you to sell up and move on – again – you can’t really lose. If your property has a kitchen extension and three bedrooms, it probably wouldn’t appeal to homebuyers who are in the market for a four bedroom property. However, for those looking at three bedroom properties, your home is going to be far more appealing with a kitchen extension that it would be without.
A new kitchen for your new kitchen extension
Of course, once you have decided that a kitchen extension is the way forward for you, you will need to choose a new kitchen design. This is where we come in! At Kitchen Warehouse, we have a wide and impressive collection of stunning kitchen ranges for sale. You will find some of the best and most affordable prices on the UK kitchen market. On the website, you will find everything you need for a brand-new kitchen installation that will be perfect for your kitchen extension. We have a kitchen design fit for any style and type of property. Whatever look you would like to achieve, you can find it with a Kitchen Warehouse design. As we are a kitchen manufacturer that deals directly with the public as well as with trade customers, we can offer the same great prices for all.
What you can expect from Kitchen Warehouse
The Kitchen Warehouse website is your one-stop-shop for all your complete kitchen unit needs. From stylish kitchen doors and hinges to soft closing drawers and drawer fronts, our large collection has it all. There are never any hidden extras to pay. The price you see online is the price you pay.
Our prices are genuine, fair and low. We want to make the prospect of having a new kitchen in the home an affordable proposition for all. It shouldn’t be something you need to re-mortgage for. This is why are prices always stay the same. It’s like we’re having a sale twelve months a year.
We have a huge range of kitchen designs for you to choose from. Because of the variety of styles that we offer, we are confident that everyone will be able to find the perfect kitchen design for them. This could be a look to complement or match the existing décor in the home, or one that will be ideal for a brand-new look for the kitchen.
A style for all tastes
We have the most cutting-edge and contemporary of kitchen styles around. These include the likes of High Gloss Handleless and Handleless Matt ranges. However, if your taste is for something a bit more traditional, we have plenty of designs that will interest you too, such as our Luxury Shaker range.
To view any product on the website in more detail, all you need do is to click on the image on each category page. As you click through each option, you will find the individual product page for each item. This is where you will find the price. All prices on our site are inclusive of VAT. You can be sure that there will never be any nasty extras to pay.
The website has been designed so that you can find everything you need in one single place. However, the Kitchen Warehouse team are always on hand to help you. If you need any guidance, you can contact us on 01765 640 000 or by emailing us at email@example.com.
Is a kitchen extension worth it? The verdict
In conclusion, assuming that the cost of the construction of a kitchen extension is kept within a sensible and workable budget, and the style is well-matched to the existing building, it will be a good investment in the long run.
The thing is, there is one other major advantage that should not be forgotten. More space in the home will inevitably lead to a better quality of life. More light, more space to entertain, more space to relax and socialise… it really is a win-win situation. Factors such as these that impact on the quality of your day-to-day life have little to do with overall return on investment or profit. However, these are factors that should not be overlooked. Because – in many ways – they make everything worth it.
If you are considering a kitchen extension and you would like discuss your ideas for your new kitchen, please do not hesitate to get in touch with the Kitchen Warehouse team. We will help you make your dream kitchen become a reality. We can ask any questions that you have and give you as much guidance and advice as you need.