Enhancing Home Value in a Falling Irish Market: Unveiling the Power of Kitchen Upgrades
Irish real-estate market is in a huge and worryingly grey area now than ever before. According to a latest Daft.ie report, house prices have fallen by 0.5 per cent in the past year. On the other hand, sellers are trying to inflate the market by increasing the asking prices for their homes. Certainly, this ambiguity has left everyone feeling confused.
If you are a home owner who is planning to sell your home, then keep reading because we will delve in some great tips to get the best value on your home.
By making strategic investments in the right fittings and fixtures, you can attract potential buyers, evoke emotional connections, and ultimately increase your home's market appeal.
Increase Your Asking Price With Right Fittings
The Kitchen: A Focal Point for Value Enhancement
Do you agree that kitchen is considered to be the center of a home? It's the one place in the house where a lot of action happens and memories are created.
Kitchen upgrades have transformative potential that can increase the desirability of any home. With the soaring price of materials, potential buyers are attracted to turnkey houses with retrofit kitchens.
A common worry is kitchen renovation costs which could be higher than renovating a bathroom. At Kitchen Fittings Direct, we have a lot of products that if you are smart, their mere addition can enhance the aesthetics of your kitchen and home value without breaking the bank.
Here are some of the upgrades to consider:
The Power of Fittings
1. Kitchen Sinks
Ex a. Copper and Brass Sinks: Decorative PVD coated sinks in brass and copper finishes can be a bit expensive than the stainless steel counterparts, but they are sure to elevate the look of your kitchen design. Those minor cracks on the wall or the mold can surely go unnoticed when you have such a beautiful sink in the kitchen :P. These sinks are not just visually appealing but they also help to add an element of exclusivity and luxury increasing the value of your home.
Ex b. Composite and Ceramic Sinks: We have seen a promising demand for granite composite sinks and ceramic sinks over the years. Composite sinks offer durability, resistance to stains, and a range of color options to suit various kitchen designs. On the other hand, ceramic sinks provide a classic and elegant look, complementing both modern and traditional kitchens.
2. Handles and Knobs
Handles aren’t usually what people think of when they envisage cutting edge kitchen design, it’s more often than not what separates a perfect kitchen from a “nearly, but not quite there…”. They are a cost effective way of glamming up your kitchen. You can still upgrade the look of your kitchen by merely introducing new handles and knobs. We have various high quality handles and knobs in stylish designs that can beautifully compliment any kind of cabinets and drawers in your home.
Fun Fact: During the recession of 2008-2009, when kitchen renovation couldn't be afforded, there was substantial spending towards handles and knobs to refresh kitchens.
A quick tip: matching handles and knobs can help to create symmetry in your kitchen design. Imagine stunning copper handles to match the elegant copper sink in your kitchen! This can be highly attractive to potential buyers.
3. The Importance of Kitchen Storage
An organized and functional kitchen makes it even more desirable for any potential home buyer. With smart kitchen storage ideas, you can make the optimum use of the space available as well as keep the kitchen organized and tidy. Consider investing in pull out shelves, corner unit fittings, pantry organizers or drawer accessories.
4. Energy Efficiency and Convenience
In today's environmentally conscious world, making your home energy-efficient can be quite appealing. Instant hot water taps are a great example of a energy-efficient feature to have in your home. They not only reduce your energy consumption compared to using standard kettles but are also a very convenient asset to have in your kitchen. This can be an attractive selling point.
5. Embracing Trends and Modernization
Keeping up with current design trends is crucial when aiming to maximize your property's value.
Ex a. Contemporary Design Elements: Incorporate modern design elements such as pendant lighting, open shelving, or a kitchen island. These additions can create a visually striking and functional space that potential buyers will find enticing.
Ex b. Smart Tech: With the advancement of technology, integrating smart appliances and gadgets into kitchen design has become increasingly popular. Features such as motorised sockets, smart lighting, voice-activated assistants or touchless faucets can give a cutting edge to your kitchen design.
Grants and Schemes for Future-Proofing
Do you know there are several grants and schemes available to future-proof your home? These initiatives encourage energy-efficient upgrades and sustainability measures, which can further enhance the value of your property. For example, SEAI through its schemes, offers grants for insulation, heating system upgrades and renewable energy installations in your home. You can find out about the available SEAI grants in detail on www.seai.ie/grants/. These grants not only hand you the advantage of increasing the value of your home but also encourage sustainability.
Independent.ie have listed more grants that are available to homeowners in their article.
To conclude, in this uncertain Irish real-estate market, adding right fittings to your home is a strategic approach to maximize your home's asking price. The value of your house could hold par to a house that got full retrofit kitchen (without near the same spend) and therefore more desirable to buy in a constricted market. Remember, a relatively modest investment can yield substantial returns, potentially increasing your home's value by tens of thousands of euros, while appealing to a wide range of prospective buyers. By making strategic investments in the right fittings and fixtures, buyers can just fall in love with the house at the first sight and they develop an emotional connect with the house.
References:
- https://www.breakingnews.ie/ireland/house-prices-fall-for-first-time-in-three-years-report-1494002.html
- https://www.rte.ie/news/business/2023/0710/1393428-home-asking-prices-2-2-up-in-second-quarter-myhome/
- https://www.independent.ie/business/personal-finance/now-is-the-time-to-act-to-future-proof-your-home-the-grants-and-schemes-to-help-you-save/42416970.html
- https://www.seai.ie/grants/
