Money-making kitchen renovations.

Renovating your kitchen to improve functionality is always a wise investment, writes Harvey Grennan.

When families are in the market for a new home, a spacious, well-appointed kitchen often tops the wish list. It is, after all, the hub of the house. So, it makes sense that renovating your kitchen is a key way to add value to your home.

Not surprisingly, kitchen renovation is big business. The Housing Industry Association (HIA) estimates in its recent GWA Kitchen and Bathroom Report that there were 146,100 potential kitchen renovation jobs in 2016/17 with an average value of $20,411. That adds up to about $3 billion a year being spent on kitchen renos. But how long should your kitchen be in service before it’s due for a revamp? According to the report, most renos (78 per cent) are carried out in homes with kitchens that are between 11 and 20 years old.

Designer Graeme Metcalf of Sydney’s Dan Kitchens says a well-designed, functional layout will garner you the greatest return on investment, not high-end appliances or expensive materials (although they certainly help in some markets). “If you’re not looking to sell in the short term, specify appliances and materials that are more durable,” says Metcalf. Also consider the overall style: a timeless design will serve you better than a look that is very much of the moment.

How much you should invest is greatly determined by the size of the home, the location, and who will be attracted to the property. “The size of the kitchen needs to be in proportion with the size of the home,” says Metcalf. The style of the kitchen should also tie in with the rest of the home’s interior. “Don’t over-capitalise on the benchtop or commercial-grade appliances – there’s no point if your market doesn’t appreciate it,” he cautions. Plenty of storage is always welcomed, however. Reworking an existing layout to include an island bench is another smart move and, in fact, installing an island is one of the main reasons homeowners renovate their kitchen.

Of course, the people who really know what home buyers look for are property agents. Shannan Whitney, co-principal of the Bresic-Whitney chain of realestate offices in Sydney, agrees that kitchen appliance brands add more value at the premium end of the market. He says buyers are mostly looking for a balance of size, functionality and quality of materials.

“The extensive variety in style and materials is vast, so it’s very difficult to meet everyone’s taste. But I find that people are happy with most surfaces, providing they’re of reasonable quality,” Whitney says. “If you stick to the basics of size, functionality and quality, you’ll find the market will respond warmly. In my experience, buyers don’t really want plain and neutral kitchens either. They respond well to designs with personality, as long as the basic criteria are considered.”