Enhancing Home Value in a Falling British Market: Unveiling the Power of Kitchen Upgrades
The British real-estate market is severely hit and suffers worst house price falls than any major European economy. As reported in The Telegraph, house prices in the UK fell by 3.1% in the first three months of 2023.
If you are a home owner who is planning to sell your home, then join us as we explore some great tips to get the best value on your home.
Learn how strategic investments in the right fittings and fixtures 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.
Gone are the days when a full-scale kitchen renovation was the only path to adding value. Today, strategic and thoughtful investments in smart kitchen fittings hold the key to unlocking hidden potential and making your home stand out in a constricted market. 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.
Pressure of Net Zero Targets
The Government of UK has found out that Housing in UK accounts for about 14% UK emissions. They have set net zero target to be achieved by 2035 for the housing sector as stated in the Clean Growth Strategy. Homeowners are under pressure to make their homes sustainable and reduce their carbon footprint. Amidst this pressure, the kitchen emerges as a focal point - a canvas brimming with potential. Here are some minor upgrades which can help achieve sustanibility are:
a. Recycling Bins
Recycling your waste is a one step towards being environmentally friendly and incorporating separate recycling bins in your kitchen certainly aids that. Separate bins can make recycling a convenient and hassle-free process for everyone in a home. Our integrated pull out bins are fitted inside kitchen cabinets being out of your way in the kitchen. Environmentally conscious potential buyers can appreciate this feature.
b. LED Lights
The standout benefit of LED lighting is the longevity of their lifetime. A standard LED can last for 50,000 hours use at full power. It is highly sustainable in nature that reduces your home's energy consumption while also creating a inviting mood setting in your kitchen. LED strip lights under cabinets and inside drawers can add a touch of modernity while promoting energy efficiency.
We have explained the benefits of LED Lighting in our blog Five reasons to make the switch to LED lighting
c. Eco friendly Cooker Hoods
By opting for eco friendly cooker hoods you are playing a part in reducing environmental impact and also lowering your energy bills. We have a range of eco-friendly cooker hoods which can be a selling point to potential buyers. These cooker hoods can compliment your kitchen aesthetics and you can emphasize the benefits to meet net zero targets.
To conclude, in this declining British 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.telegraph.co.uk/business/2023/07/06/britain-suffers-worst-house-price-fall-european-economy/
- https://www.telegraph.co.uk/property/house-prices/draconian-eco-rules-accelerating-britains-house-price-crash/
- https://commonslibrary.parliament.uk/research-briefings/cbp-8830/
- https://www.gov.uk/government/publications/clean-growth-strategy
