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How much value does a new kitchen add to your home?

The importance of kitchens when it comes to buying and selling a property: How a kitchen renovation can add up to £79,000 to your home’s value.

Our key findings

  • Sellers can expect to make an extra 5-6% when selling a home with a recently renovated kitchen
  • A kitchen renovation can add an additional £79,000 to your property selling price
  • The impact of a new kitchen on property sale prices has increased by over 7% on average between 2022 and 2023. In some areas, this value has increased by 14.05% 
  • Ample storage, cooking space and quality integrated appliances are all factors today's buyers prioritise in the kitchen.
  • Sub-par DIY renovations and divisive paint colours are factors that can devalue your property.

 

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Kitchens are known to be the heart of the home, but on top of the value they add to your everyday life, they also can add financial value when looking to sell your home.

When it comes to selling a property, new kitchens are widely regarded as one of the top home improvements that can help boost value.

From redesigning your kitchen entirely to just updating kitchen cabinets, or upgrading the kitchen worktops, investing in a new kitchen is a valuable asset when putting your home on the market.

For the purpose of this report, we analysed internal data and spoke to leading experts in real estate to find out how important a kitchen really is when selling a property.

Looking at house prices across UK cities and towns, we calculated the monetary value a new kitchen renovation would add to these house prices across varying budget points.

Our research discovered that buying a new kitchen has the greatest impact on property value in places such as Kensington, Esher, and other areas with the highest property value.

Your property's value after a kitchen renovation

On average, renovated kitchens can increase the selling price of your property by 5-6%.

The value of your home and the impact of the renovations on the selling price can be largely dependent on how much is spent on the new kitchen itself.

From budget to luxury kitchen renovations, there are a wide variety of projects that can be carried out to update the space.

When deciding how much to spend on a new kitchen, consider the demand for property in your area as this will determine the return on interest of your renovation project when selling.

Did you know?

The value of a kitchen across the board has increased significantly, by 7.29%, when compared to last year.

Kitchen value map

You can use the map below to analyse how much a kitchen renovation, whether a low-level DIY project or full reconstruction, could impact your property value, using estimates and expert opinions.

Property prices are calculated using the average house price in each local authority. It is important to consider that house prices will vary across areas within local authorities. This means the value of a kitchen renovation will be more or less profitable depending on the individual house price.

 

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Property value by area

Kensington & Chelsea

Kitchens add the greatest value in Kensington and Chelsea, which is great for residents looking to sell their properties in the area.

A budget renovation, costing approximately £7,000, can increase the cost of a property in Kensington and Chelsea by £65,937.95.

A standard renovation, with owners investing £11,000 into their kitchens will increase the selling price by £72,531.75.

If looking to invest £15,000 in a luxury kitchen renovation, Kensington and Chelsea homeowners can expect to make an additional £79,125.54 when selling their house.

Elmbridge

The Surrey borough of Elmbridge, home to towns such as Esher, ranks as the highest non-London area where a kitchen renovation will have the highest impact on the monetary value of a property, which may come as no surprise given its proximity to the London Borough of Richmond-upon-Thames.

In Elmbridge, a budget renovation will boost property value by £36,066.25, whilst splashing out on a new luxury kitchen will increase the sale price by £43,279.50.

In Bath, a budget renovation could increase property prices by £21,411.15, which is £5,481 over the national average boost. A standard new kitchen will boost sale price by £17,522.93, whilst a £15,000 luxury renovation will see a return on investment of £19,115.92 for sellers.

Brighton

In Brighton, a luxury kitchen redesign will help increase the sale price by an astounding £26,794.92, whilst if spending £7,000 on a smaller kitchen improvement you are likely to see an increase of £22,329.10. 

In both Newcastle and Glasgow, a budget renovation is generally your best bet for adding value to your home, as you could potentially see increases of £9,721.05 and £8,335.65 in house prices respectively.

However, if you spend more than this on a renovation, you risk spending more of the renovation itself that you are likely to see in return when selling the property.

Which kitchen features add the most value to house prices?

It’s no surprise that the value of a kitchen has increased, as the heart of the home has become even more important for many of us.

As the cost of living crisis continues, many people are looking to adjust their spending habits, instead hosting friends and family at home, seeing the “insperience” trend return.

People are investing in their homes and kitchens to be a well-rounded space for all the family, so when buying a property, it really is something that can make or break a decision to buy. With the chaos of everyday life, the last thing people want after a stressful move is to think about renovating their kitchen.

Alongside this, the current high cost of living means a new kitchen isn’t something people can necessarily afford after the high costs associated with moving. This is why buyers will often opt to buy a house with a newly renovated kitchen. 

This is something people are majorly taking into consideration, whether selling their home or not. Google searches for “ideas for kitchen renovations” have skyrocketed by 400% in the last 12 months in the UK alone. Of course, people are taking the cost of this into consideration, as it will play a large role in the extent to which people can update their kitchens. Google searches in the UK for “kitchen renovation cost” have also increased by 233% since June 2022. 

We asked real estate experts from Foxtons, Reeds and Zoopla to find out what buyers are prioritising when looking for a new property, and they shared exactly what features to prioritise when it comes to renovating your kitchen if you plan on selling up in future.

The 4 kitchen features that will add the most value to your home

1. Ample storage space for cooking and integrated appliances are important to buyers

Essentially, the more storage you can fit into your kitchen design, the better, as this is one of the most universal issues people face in the home. Alongside enough worktop and living space, updated integrated appliances can massively impact the value of the space.

Fleur Marston, Earls Court Sales Manager, Foxtons comments:

“Something we have found to have particular significance in recent weeks is our buyers wanting to have a full-sized fridge. A few vendors have put in small half-sized fridges in favour of having more worktop space. We have found that this has been a deterrent to buyers.”

2. Getting DIY projects right can add value to your property

If done correctly, DIY projects can be extremely successful at effectively increasing the selling price of your property whilst keeping within a budget. However, to ensure that you don’t devalue your property with poor workmanship, only undertake projects that you know you can complete yourself and aren’t likely to cause any damage to your property.

Daniel Copley, Consumer Spokesperson at Zoopla comments:

"This explosion of DIY trends on TikTok over the past year has undoubtedly led to an increase in people doing budget renovations. We know kitchens are a key selling point for many buyers - and the centre of activity in many households - so DIY projects are often focussed on this space. Getting this right can add value and make your home more appealing”

3. Superficial upgrades can improve the chances of adding value

If you’re struggling to find the budget to invest in a complete kitchen renovation, there are several surface-level - yet cost-effective - improvements you can make to enhance your chances of increasing your property price.

Daniel Copley, Consumer Spokesperson at Zoopla comments:

“Superficial touches, such as replacing broken handles or treating worktops, could give your kitchen a quick update and improve your chances of adding value.”

4. Buyers will pay more for a turnkey kitchen

Moving is one of the most stressful experiences we can go through, so if we can minimise this stress by finding a property that needs little to no renovations then the chances of buying are much higher.

Fleur Marston, Earls Court Sales Manager, Foxtons comments:

“As a result of the cost of renovating a property having drastically risen in the last couple of years, for the first time in a long time we have found that buyers are willing to pay a premium for something into which they are able to move straight in. On the whole, the aspect of a renovation which buyers put the most emphasis on is usually the kitchen.”

Kitchens are very important to buyers when choosing a property - with many seeing it not only as a space for cooking or baking but where friends and family can gather informally.

Especially if there’s a table/island or seated area available. Design-wise, buyers like to see good areas for food preparation, as well as ample storage, with good, integrated appliances also considered a great feature.

John Wetherell
Director of an independently owned and managed Reeds Rains estate agency franchise 

Did you know?

Google searches for “ideas for kitchen renovations” have skyrocketed by 400% in the last 12 months in the UK alone.

Methodology

Magnet’s anonymised internal customer sales and inquiry data was analysed to reveal the most commonly requested kitchen features and accessories, as well as the average cost of a kitchen renovation in the past three years.

Magnet then partnered with industry experts to discover the importance of different kitchen features, and how they can impact the ease of sale and value of a property based on buyers' perceptions and demand.

HM Land Registry data on the average price of a property in February 2023 in each UK local authority was used alongside expert estimations to reveal the effect of a budget, standard and luxury kitchen on the value of a property.

Global Google search volumes were collected from keywordtool.io during June 2023

Sources

[1] “How much does a new kitchen cost to install?” (Checkatrade, 2022)

[2] “Lockdown homeowners spent £400 more on renovations last” (This is Money, 2021)

With thanks to property experts:

Foxtons

Your Move and Reeds Rains

Zoopla

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