Is a kitchen reno on your menu this year?
Like most Kiwis you would have seen the polished surfaces of the MasterChef kitchen or the creativity of The Block designs, and may be felt slightly envious?
Most of us will never own a kitchen fit for a TV show but whatever type we have the modern kitchen is the heart of the home where family and friends gather not just to prepare food and eat but also to share stories, relax, study or work, be entertained and play games.
As the kitchen’s role has changed so has the appetite to invest in a new kitchen.
Every year, Houzz, releases a kitchen trends study - Houzz is an architecture, design and home improvement website and all-in-one resource for homeowners working on a home renovation or decorating project. Its study is full of interesting information.
The study looks at the different reasons and factors related to the evolution of this most important room including: why we update our kitchens, what changes do we make, the designs we like and how much we spend?
Whether you can’t stand your current kitchen, need to declutter and organise, or want to add value to your home, here we look at some of the main trends and reasons that a kitchen reno may be a very good idea in 2019.
The kitchen is the heart of the home
In days gone by the kitchen was a space solely for food preparation, and meals would be served in a different room. In more affluent homes, the family or group of friends would then transfer to the lounge to relax and mingle once the meal was finished.
Dial forward to 2019, and the kitchen has become a multi-functional area that includes breakfast bars, dining tables and chairs, lounge suites and for many this also extends outside to a deck, with everyone joining in the meal preparation.
Children now do their homework on the marbled counters while their parents restock the pantry. And because the kitchen has expanded to include dining room and lounge in one, it has certainly become a larger heart and part of the home.
Renovations to kitchens can greatly improve the dynamics and lifestyle of a family. In its 2017 survey, Houzz reports that 38% of the families interviewed now work or study in the kitchen more often than they used to. An impressive 48% of homeowners also hold more dinner parties and 52% of these homeowners bake more often.
If a few TV cooking programmes aren’t enough to encourage more culinary creativity, a new kitchen can also lead to more preparation of meals at home, with 39% saying this is the case. It also leads to health and social benefits: 35% of respondents ordered less take-out or delivered meals, and 35% say they have more sit down meals as a result.
All these figures show that people develop different habits in a kitchen that is more suitable to their lifestyle.
Stamp your creativity on a new kitchen
Adding your own artistic choices to the kitchen helps express who you are—whether you have a baking hobby or a love for fine china. Apart from the appliances you might need or the cutlery you want to see, there is a whole slew of kitchen layouts or styles that you may choose from. Here are some of them:
Modern or Contemporary - This kitchen style incorporates high functionality and sleek designs. Minimalism is an also important theme. White fascias are highly popular and laminate is increasingly popular.
Traditional - Traditional style uses warmer lights and more comfortable furniture, exuding a more sumptuous look than the modern one.
Retro - If you’re into a more funky and playful theme, go retro. The black-and-white patterns and popping colours certainly sets it apart from the other styles.
Country - This style is similar to traditional designs but incorporates wooden fixtures, more ornate hardware, and tables and chairs, adding a rural charm.
Shape - Islands are popular and whether you prefer a U-shape, L shape or galley will depend on the shape of your room and preferences.
The main reason for starting a kitchen renovation is the homeowner can no longer stand the old kitchen (39%), so the urge to renew and make it one’s own is very strong.
What is spent on kitchen renovation and the value add
While the overall average spend is $18,100, Houzz reveals that 6% of renovators will spend more than $60,000 and a further 37% will spend between $20,000 and 50,000. Another 35% have had a long term desire to renovate and finally have the means to do it.
One of the most important benefits from renovating a kitchen is the value it can add to a home, meaning obtaining approval to go ahead can be easier than you think.
If you have sufficient equity in your home an option would be to extend your current mortgage and borrow against it. Lenders understand that new kitchens will add value so they are also comfortable with this approach.
Another option is a personal loan as long as the banks know you have the ability to make regular payments. The downside to this is the interest payments will be higher than extending your mortgage.
The amount of value added to a home by a kitchen reno is difficult to estimate but if you don’t have a big budget, there are still ways to make improvements.
Prioritising certain parts of your kitchen that do need fixing or upgrading, and leaving the rest to later, is one option. A gradual renovation certainly isn’t ideal for many but it is more manageable financially.
You may also consider keeping the same kitchen layout and just replacing the panels, as opposed to a full remodelling that would hike up the cost. The kitchen carcass, or the framework behind the cupboard doors and panels, will last for decades and you may just need to refresh the look of your kitchen rather than rebuild. This approach is a lot cheaper.
A kitchen for your future
Whatever you might be after—be it a full-on copy of the MasterChef kitchen, a new shape, refreshed look or some soft close drawers, better organisation and less clutter, investing in your kitchen adds value to your day-to-day life for you and your family and will also increase your home’s value.
Cooking, serving, entertaining and living in a kitchen you adore, simply makes the heart of your home, beat stronger.
Tell us about your dream kitchen
If you come and talk to us about what you would like to do with your kitchen, we will tell you how to make it come true.
A kitchen reno is an adventure that can become expensive. So if you need advice on how to make it possible financially, we might not be MasterChefs but we are definitely masters of mortgages and finance. We would love to talk to you, so please give us a call at Taurus Home Loans.
Posted 1 Feb 2019