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Is Now A Good Time To Buy A New Kitchen?

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Is Now A Good Time To Buy A New Kitchen?

Is now a good time to buy a new kitchen? Well, based on the old adage, “The best time to plant a tree was twenty years ago. The next best time is now,” it’s fitting to apply a similar take if you’re thinking of buying a new kitchen or renovating your property. Reflecting on the upheavals of recent years, the best time to buy a kitchen was pre-pandemic, due to lower costs and more predictable market conditions. “However, the next best time, really is now” says Bill Halliday, Director of Nicholas Hythe Kitchens. And with over 30 years of insight into the kitchen industry’s flux, he should know.

We sat down with him to outline some of the reasons as to why embarking on your kitchen renovation project at this juncture is the right time. Despite the challenges of the recent past, the current landscape offers now unique advantages that make it an opportune moment to create the kitchen of your dreams.

  1. Navigating Through Inflation

“As everyone’s aware, we’ve witnessed an unusually high uptick in inflation throughout the economy. “A surge in demand for home improvements and significant constraints in the availability of both products and skilled labor have fueled inflation within the home renovation sector,” Bill explains. “The pandemic’s lasting impact, compounded by recent conflicts in Ukraine and the Middle East, has sharply intensified this trend. While economic indicators suggest inflation may continue, albeit at a hopefully more modest pace, starting your kitchen renovation now offers a strategic opportunity to avoid the worst of future price increases that seem set to rise,” he adds.

  1. Supply Chain Improvements

While global supply chains have notably bounced back from their initial pandemic-induced disruptions, offering a more stable and reliable flow of materials and appliances for kitchen renovations, certain challenges persist. “Appliances, in particular, still face sporadic availability issues as manufacturers strive to replenish their inventories”, he says. “But, despite these hurdles, the overall improvement means your renovation provides us with greater planning certainty which leads to reduced costs related to issues such as non-availability or snags that require items to be reordered”.

“In addition to the resurgence of the products supply chains, the demand for skilled labour—such as kitchen fitters, electricians, plasterers, and plumbers—has found a new equilibrium, with inflation levels for these services significantly lower than what we observed a year or two ago”. This stabilisation in the labour market is crucial for kitchen renovations, as it ensures that the necessary expertise is available without the extreme cost surges experienced in the immediate aftermath of the pandemic. The combination of a more reliable supply of materials, appliances, and skilled labour means that your renovation project is less likely to encounter delays and unexpected costs.

  1. Technological Innovations

With energy prices set to remain high compared to recent historical levels, long-term savings through energy efficiency are there to be made. The kitchen renovation market is experiencing a surge in technological advancements that significantly enhance both the look and performance of kitchens. Bill says “today, these innovations are more affordable than ever, presenting an opportunity to upgrade to energy-efficient appliances without heavily impacting your renovation budget. These upgrades promise not only a reduction in your energy bills but also ensure that your kitchen remains functional and stylish well into the future, making it a smart move for both your wallet and the environment”.

  1. Pre-empting Manufacturers’ Price Increases

With manufacturers’ operational costs continuing to rise, influenced by raw material prices, energy, import costs and broader economic factors, many have started to signal price hikes around Easter. “Launching your kitchen renovation endeavour before these adjustments take effect can lock in current prices, circumventing the financial impact of anticipated hikes. This foresight can lead to considerable savings, underscoring the timeliness of starting your project now”, Bill says. “At Nicholas Hythe, we work with manufacturers to delay any increases for as long as possible or by buying and holding stock of popular items so that we can honour our 30-day price pledge to customers finalising their decisions”.

  1. Enhancing Your Home’s Value

An updated kitchen stands as a testament to a well-maintained home, significantly boosting its market value. This investment not only promises a favourable return in terms of resale value but also enhances your enjoyment of the space. In the current real estate landscape, which leans towards homes ready for immediate occupancy, a freshly renovated kitchen could be the linchpin that makes your property stand out to potential buyers.

And, if you’re not planning on moving, a kitchen renovation is fundamentally about creating a space that aligns with your lifestyle and aspirations. As the heart of the home, a kitchen that reflects your preferences and requirements can transform your home into a more inviting and functional space for you and your loved ones.

Conclusion

So, is now a good time to buy a new kitchen? Given the reasons outlined above, we believe there’s a compelling case for why now stands as an opportune moment for your kitchen renovation. Whether motivated by the prospect of enhancing your home’s value, achieving energy efficiency, or simply the desire to revitalise the heart of your home, the current period offers a window of opportunity in what remains an uncertain world. Our team is ready to support you through this process, ensuring that your renovation not only meets but exceeds your expectations, embodying the perfect blend of style, functionality, and efficiency.

Inspired?

At Nicholas Hythe, the only Trading Standards approved kitchen designers and installers in Cambridgeshire, we actively guide clients to make the best decisions for their needs. We streamline the refurbishment process, ensuring it’s efficient, safe, and stress-free. If you’re navigating today’s kitchen renovation challenges, let us help and guide you and when you’re ready, why not book an appointment with us, free and with no-obligation?