How much should you spend on a new kitchen in 2024?
Our key findings
- 39% of people had a kitchen renovation between 2011-2020
- 29% of people had a kitchen renovation after 2020
- After 2020, 27% completed a DIY kitchen renovation by themselves
- On average, people spent £4,477 on kitchen cabinets
- 15% of people wish they’d spent more on flooring
- On average, people spent the least on lighting, at £569
- 52% of people did not spend any money on smart gadgets
With searches for ‘kitchen renovations’ peaking in January, the new year is a great time to consider updating your kitchen. However, with the cost of living rising, it can be difficult to know how much to spend on a new kitchen, or if it's better to update just a few areas of your kitchen instead.
Magnet conducted a survey of 2,000 adults who have purchased a new kitchen in the last decade, to find out which kitchen items they wished they saved money on, and those they wish they’d invested more into. They also found out what people wished they’d added to their kitchen project, and how much money they spent overall on their new kitchen.
The average cost of a new kitchen
Depending on the size of your kitchen and whether you’re remodelling some cabinets or having a complete renovation, the price can vary widely. On average, a kitchen renovation should only cost between 5-10% of the value of your home. From our survey, we’ve revealed the average price homeowners pay for new kitchen items like cabinets and worktops.
|
Kitchen item |
Average spend |
|
Kitchen island |
£5,276 |
|
Kitchen cabinets |
£4,477 |
|
Kitchen worktops |
£2,985 |
|
Flooring |
£2,653 |
|
Appliances |
£1,553 |
|
Smart Gadgets |
£1,188 |
|
Dining table and chairs |
£1,111 |
|
Kitchen splashback |
£681 |
|
Lighting |
£569 |
Two-thirds of people have kitchen design regrets
With #kitchenstorage on TikTok receiving over 420 million views, it's no surprise that people's top kitchen regret is not including enough storage.
Out of this 40%, most people (21%) wished they’d taken more consideration for storage space, such as larders, when planning their new kitchen. Additionally, 19% of people wished they’d considered more worktop space.
Despite underfloor heating being generally seen as a luxury, 20% of people said not getting it was one of their biggest regrets.
Underfloor heating is a great way to provide comfort and warmth when walking across the floor especially if you have tiles. Plus, it can be more energy efficient if running at a lower temperature, and it provides even and consistent heat throughout the kitchen.
Our Head of Design, Jen Nash, warns against forgetting the importance of power sockets: “Although it might seem a minor detail, power sockets shouldn’t be forgotten about.
The kitchen is a social hub where a hive of activity happens, from cooking to working to socialising, so power sockets are a high priority for a seamless and functional kitchen space.”
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Our Head of Design Jen Nash adds, “Overall, the majority of kitchen regrets are down to the design of the kitchen, with homeowners wishing they’d incorporated more storage and worktop space. Our specialist team of designers is ready to assist you with every element of your kitchen project, ensuring even the smallest of details are catered for.
By considering your unique lifestyle and how you plan to use the space, our designers will be able to create a bespoke and practical design for your kitchen, whether that's for family time, working from home, or your love for cooking. We’ll always make sure you’ll be happy in your new kitchen, with no design regrets.”
Where should you invest more money in your new kitchen?
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10% of people wished they invested more money in kitchen cabinets
Kitchen cabinets are the first thing you see when you enter the kitchen space, so you want to make sure they work with your interior as well as being functional. We mentioned above that on average people spent £4,477 on kitchen cabinets, but out of all the people surveyed, 10% wished they’d invested more in them. This could be due to people prioritising budget over material type, but they're now experiencing wear and tear - making them wish they'd invested more in longevity.
Our Head of Design, Jen Nash, explains why investing in kitchen cabinets is so important: “Investing in quality kitchen cabinets is key to ensuring a longer lifespan. Although you invest more upfront, you’ll save in the long run as they’ll be more durable in coping with everyday use, meaning you won't have to worry about constantly changing or fixing any issues with your cabinets.”
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15% of people wish they spent more money on flooring
The kitchen is one of the most high-traffic areas of the home, so the flooring you choose has to be able to cope with a significant amount of wear and tear. 15% of people wish they invested more in flooring, which makes sense considering the data shows over 40% spent under £1,000.
Whether you choose laminate flooring, solid wood flooring, engineered wood or vinyl, consider what's achievable within your budget, how you are going to use the space and how long you’d like the flooring to last.
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11% of people wished they invested more in storage
Not only did 21% of people wish they had more storage in their kitchen, 11% wished they’d invested more in it too. From our Value of a Kitchen study, we know that ample storage space can massively increase the value of your home as it is one of the most important features for buyers.
Jen Nash comments “If there's one thing I'd want people to take into consideration when designing a new kitchen, it's functional storage. Having storage that fits around your lifestyle means you’ll be able to effortlessly maintain a clean and clutter-free kitchen, hiding away items like appliances that you won’t always need to have out on the counter - and don't disregard open shelving!"
53% of people spent under £5,000 on kitchen cabinets
Kitchen cabinets can vary widely in price depending on size, colour and materials, so having an idea of your budget beforehand can help make things easier when deciding which cabinets are best for your home. When budgeting, it’s important to take longevity into consideration, as well as aesthetics. Despite the often higher price point of good quality, sustainably-sourced materials, this is an area where investment pays off. Quality materials will last much longer and maintain their appearance as a result of considered craftsmanship. With this in mind, you can select the cabinets that are a balance of style and durability, as well as cost.
According to our survey, on average, people spent £4,477 on kitchen cabinets. However, the highest percentage of people (22%) spent between £1,000 to £2,999 on kitchen cabinets during their kitchen renovation. As this is just the average spend on kitchen cabinets, it's important to note that the cost is dependent on the size of your kitchen and the number of cabinets you purchase.
17% of people spent under £1,000 on kitchen cabinets, which could be due to a surge in TikTok-inspired DIY, coupled with the cost of living crisis resulting in material prices increasing.
On average, people spent £2,985 on kitchen worktops
Deciding which kitchen worktop will best complement your cabinets is one of the most important aspects when designing a new kitchen.
In terms of pricing, people invested £2,985 on kitchen worktops on average, which is just under £1,500 less than was spent on cabinets. On average, 35-44 year olds spent £4,723 on kitchen worktops, which is double the amount spent by 55-64 year olds; £2,321 - although, it’s important to note that a higher number of 55-64 year olds responded to the survey, which may lower their average spend.
There are now more options for kitchen worktop materials than ever, and you can achieve your dream kitchen aesthetic while sticking to your budget - whether you’re set on sustainable timber or real granite, or want to get the same look for less with laminate, corian or quartz. However, note that if there is an area to invest in, your kitchen worktop is worth it, being the most-used area of the kitchen.
Did you know?
“Your kitchen designer can draw up bespoke storage solutions to suit you. I’d always recommend incorporating rotational shelving to make cabinets more accessible, as well as pull-out units in certain areas. For those that would benefit from different kinds of functionality, there are a wide range of accessibility options to incorporate into your kitchen design, ensuring your space fits your lifestyle.
From accommodating mobility issues, to installing smaller items like cutlery inserts and plate holders, design tweaks can make the world of difference in making your space easier to maintain and eliminating any kitchen regrets.”
— Jen Nash, Head of Design
Three tips to save money on your kitchen renovation
Incorporating a kitchen larder can elevate your kitchen by reducing the overall need for cabinetry, from opening up extra space for your dream design additions to simply giving you more room to manoeuvre - ensuring there is a little room to grow is a great way to future-proof your kitchen.
Jen Nash advises, “a larder might seem like a big investment, but it'll pay off in all the ways it can benefit your kitchen. It can free up space for features like open shelving, which will reduce the cost of your project and allow you to beautifully display your things, or simply create room for you and your family to grow into in the long-run. Remembering that the kitchen is a constantly evolving space will help you to make design choices that optimise your budget now, and in the future.”
On average, people spent £569 on kitchen lighting, which was the smallest amount spent across the whole kitchen renovation. While statement-making pendant lighting has grown in popularity in line with design trends like Scandi and Maximalism, a high-end feel can be equally achieved through the use of carefully placed spotlights.
You can keep costs down by focusing on the main tasks you conduct in your kitchen and placing lighting accordingly, rather than a grid system ‒ both giving your kitchen a bespoke ambiance, and an opportunity to keep costs down.
If you’re looking for ways to cut costs on your new kitchen, smart gadgets are certainly more of a luxury than a need. On average, people spent £1,188 on them, but it’s important to note that over half didn't decide to invest in smart gadgets at all.
Whilst smart gadgets like a boiling water tap can be convenient and enhance ease in the kitchen, if you’re looking to reduce costs, they should be towards the end of your list in terms of priorities. Plus, even the ‘standard’ appliances available today are far more technologically advanced than they used to be - so don’t feel the need to go over your budget on smart appliances.
Three tips to save money on your kitchen renovation
New kitchen spend by age
65s and over spent an average of £13K on a new kitchen
With 39% of over-65s getting a new kitchen between 2011 and 2020, they spent £13,436 on average, which is the smallest spend out of all the age groups.
From the data, we can see they prioritised investing money into kitchen cabinets and worktops over items like smart gadgets, which have only started to become more popular in recent years.
Only 1% of 18-24 year-olds got a new kitchen
Out of the 1% of 18-24’s who got a new kitchen, the majority got theirs after 2020. They also spent the most on average overall, with the total cost of a new kitchen costing them £51,506 - however, this average is skewed due to fewer 18-24's purchasing new kitchens. Interestingly, this age group spent the most overall on smart gadgets, totalling £2,485, demonstrating the increasing desire for ease and functionality in the kitchen.
Whether you're in the market for a new kitchen, or would just like to update certain areas, our kitchen design specialists can advise you on where to spend and save depending on your budget, as well as help you to ensure you don’t miss any important elements. If you’re looking for your dream kitchen in 2024, book a free design appointment.
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