Increase The Value Of Your Home With Bathroom And Kitchen Renovations
The value of that asset is generally increasing in New Zealand but that is all because of the heated market. What could happen to the value if the heat goes out of the market? If the market stalls, or even falls, what can you do to increase the value of your home?
For some people, a major renovation of an older home is an option, but it is a big job and not everyone can afford to spend $250k or more on renovating their home. A full renovation can also take many months, something that families might not want to have to deal with.
Simpler House Renovations
Like most investments, a home will need regular review and upkeep to be sure that it delivers the best return on investment. Just like a stock portfolio needs constant attention in order to provide value through balanced holdings of certain investments, a home requires constant maintenance. Regular maintenance will stop small jobs becoming big ones while regular painting to preserve the condition of the cladding material will also keep the house looking presentable.
However, these only maintain the value of your home. They don’t add a lot of new value.
The Two Best Ways To Add Significant Value To A Home
When people are going to open homes to buy a new house, the two most important rooms are the kitchen and the bathroom. It makes sense therefore, that if these two rooms impress buyers the most, then renovate and improve those to generate a higher value for your home.
Renovating A Kitchen
A kitchen is the heart of a home. It’s a space where people often gather, so it makes sense to create a friendly area with as much free room as possible. Older homes tended to have cramped rooms, often cluttered with cabinets, heating, water tanks and free-standing appliances. Modern design styles for kitchen renovations coupled with technological advances mean that appliances of all types can be in-built plus are more efficient to run. All of this means that space can be saved creating bigger, brighter kitchen areas.
Renovating A Bathroom
Similar to kitchens, bathrooms in older homes were often separate rooms for the toilet and bathroom. The wall between them takes up space which can be better used. Big old hot water cylinders or storage tanks and airing cupboards took up yet more space, leaving small, poorly lit rooms.
Again, using advances in technology and materials, a renovated bathroom can function with much smaller water heaters and have airing facilities like heated towel rails, all of which need far less room. Combining these with removing unnecessary walls makes a single, bigger, brighter space which is much more inviting and, adds significant value to a house.
Costs Of Bathroom And Kitchen Renovations
The costs for renovating a bathroom or kitchen are like asking ‘How long is a piece of string?’.
There are so many variables to consider. For example,
- How old is the house?
- Is the structure sound?
- How much space needs to be changed or combined?
- Are supporting walls being removed?
- What grade of cabinetry do you want?
- What brand of appliances or bathroom fittings are you after?
- And many more.
Each renovation is a unique project and the only way to accurately assess the cost is for an experienced kitchen renovation builder or bathroom renovations company to visit your site. They can assess the works needed and give you a ball-park cost.
Once the drawings are finalised and approved by the Council if necessary, then they can give you a more accurate quotation.
Save Time And Money By Talking To A Licensed Builder
All of the above make sense, but there is one missing piece.
Is a bathroom or kitchen renovation a feasible project within your budget?
You could get excited about the options of having a kitchen or bathroom renovation only to have your hopes dashed when you find out it is too difficult or beyond your budget. To avoid this, it makes sense to call in an experienced kitchen and bathroom renovation builder from the start. They will be able to give you some pointers on aspects you might not have considered, and the all- important outline of costs for your ideas.
Additional Benefits From Bathroom And Kitchen Renovations
However, an investment in a property does not have to be quantified simply in dollars and cents. It is also an investment in future happiness. Your house is your home so having a nicer, brighter, bigger living space can give you a return on investment while you live there. You will also find that a well-managed kitchen renovation or bathroom remodelling project will give you greater utility value as you and your family will have better use from the new space.
With few options to travel overseas currently, many homeowners are looking at bathroom and kitchen renovations. They have disposable funds or can afford a mortgage top-up with such low interest rates instead of taking that big holiday abroad.
If you have a kitchen or bathroom you are thinking of renovating, give us a call on 0800 224 628 or email us at enquiries@cainbuilt.co.nz and we’ll be happy to chat through your options.
