The kitchen is the heart of any home. As cooking shows a rise in popularity and as tenants inevitably rent for longer as the cost of houses rise, tenants are becoming more and more focussed on the quality of the property they are renting.
Approaching the busy Summer renting period, more property will hit the market; competition for good tenants may be fierce. Tenants will be deciding on the property that they want to rent within the first thirty seconds of seeing it, so making a good first impression really counts. Renovations however, can be costly and even at the best of times intimidating. Are they really worth it? The answer in short is yes. Great kitchens and bathrooms drive high rental prices, and attract great quality tenants.
But what do you need to consider when you renovate your kitchen and bathroom? Luckily for you over, the next month we’re making renovating easy with our quick, five-step guide! 📚
1 — Flat Pack 🛠️
It can be rather easy when you renovate a kitchen to let the costs run away with you. Storage is the key to success in any kitchen, but you don’t need to spend an arm and a leg on expensive cabinetry that will, inevitably, throughout the course of multiple tenancies end up with a few bumps and bangs. Flat pack cabinetry can be a cost effective yet attractive solution for any kitchen. A huge benefit of flat pack is the ability to design the layout of your kitchen however you like!
2 — Bench Tops 🔪
Kitchen benchtops have to be tough. They have to stand up to hot pots, spills, cuts and scrapes and carry on looking good. So when you renovate your kitchen, the choice of bench top is. Granite benchtops, while potentially more expensive, are a popular option for many investors as they are extremely durable and can continue to look good no matter what is thrown at them. Add to this their extreme fire resistance, and granite could be the way to go!
3 — Neutral Colours 🎨
When it comes to colours in your kitchen, keep it classic. Classic, neutral colours can make your kitchen feel lighter, brighter and much more spacious. Neutral paints are often inexpensive so they can be a cost effective way to create and maintain an immaculate looking space. Neutral colours promote keen interest in properties, as bright or dark colours in a kitchen can be polarising. By keeping your colour scheme neutral, you are sure to attract high-quality tenants and allow the tenant to add their own theme with their furniture and home décor.
4 — Plumbing and Electrics 🚰💡
Doing a kitchen renovation, provides an excellent opportunity to update the plumbing and electrical work. With much of New Zealand’s housing stock being somewhat dated, taking the opportunity to proactively replace the plumbing and electrical work is sure to save you headaches further down the line. You wouldn’t want to spend thousands of dollars and then have your hard work undone by a leaky pipe or a faulty wire.
5 — Quality Appliances 📦
The majority of maintenance requests that come through from the kitchens in rental property come from whiteware. Whether it is poorly installed or faulty, whiteware can be a serious pain point. Purchasing new whiteware during your kitchen renovation can save you these problems and attract high quality tenants to your property. Getting an extended warranty on brand new whiteware means no concerns for the first few years – an investment well worth it in the long run.
Kitchen renovations can be straightforward, and if done properly can add plenty of value to your property. For further advice on how you can renovate your property to increase the rental value, call us anytime for obligation free advice on 04 979 6363. Stay tuned for our next blog on creating a tenant friendly bathroom space!