The Benefits of Kitchen Financing for Homeowners

Affording your dream kitchen can feel near impossible due to the high cost of home renovations. The good news is that financing options are available so you can enjoy a new kitchen without waiting to save up to pay for it. In this blog, we explain kitchen financing and the many benefits it can bring, from flexibility in budgeting to increasing the resale value of your home.

Kitchen Financing Explained

Kitchen financing allows you to borrow money to pay for a kitchen remodel or renovation. There are various financing options for you to choose from, depending on your needs and financial situation.

Pay upfront

Paying for your kitchen upfront is the simplest option, but it may not always be feasible. If you’re lucky enough to have the savings to cover the cost of your project, you can simply choose your dream kitchen and pay in full. This is the most affordable option in the long term, as you won’t have to pay any interest on a loan.

Pay monthly

If you’re unable to pay the full cost, making fixed monthly payments is a good option. This means the total cost of your kitchen is split over multiple months. It’s important, however, to keep in mind that while this is the most flexible option, it could be even more expensive, depending on the interest rates and length of the monthly repayment plan.

Buy now, pay later

Some companies give you the option to buy now, pay later (BNPL) which allows you to get your new kitchen now and pay for it in instalments over time. Usually, you start by paying a deposit and then don’t pay anything for 12 months. Following this, you have the option to settle the amount in full or spread the cost over a period of time.

Interest-free credit

Some kitchen retailers offer interest-free credit plans for a set amount of time. This provides you with a window where you can borrow money without paying interest, often for an introductory period. As a result, you can spread the cost of your kitchen over several months, without paying any interest on top.

Benefits of Kitchen Financing

Flexibility in Budgeting

Financing allows you to manage your budgets effectively by spreading the cost of a kitchen renovation over time instead of paying for the entire project upfront.

There are a variety of financing options available, so you’ll be able to choose a payment plan that aligns with your financial situation. For example, you may be able to take out a loan with a low interest rate or a long repayment term making it easier to afford the monthly payments without putting a strain on the household budget.

Access to Quality Materials and Appliances

Have you always dreamt about having a luxury kitchen but been overwhelmed at the cost? Financing can help you afford higher-quality kitchen materials and appliances which last longer, which means you can improve the overall function and appearance of the kitchen. These could include custom cabinets, granite or quartz countertops and innovative kitchen hobs.

Increased Home Value

A kitchen is seen as a focal point in a property and people looking to buy want to know it is high quality and durable. So kitchen renovations can potentially increase the resale value of a house. According to Sold.co.uk, a new kitchen, if done right, could result in a 10% increase on the value of your home.

Immediate Kitchen Upgrades

Financing allows homeowners to start kitchen renovations sooner rather than waiting to save up. This can be especially beneficial if you have a kitchen that is outdated or dysfunctional.

For instance, you may need to update the cabinets to improve the storage of your kitchen. Financing can assist you in making these necessary upgrades, so you can enjoy a more comfortable and functional kitchen sooner.

Chat with us about kitchen finance options

Kitchen financing can offer a variety of benefits for homeowners who can’t afford to pay upfront for their dream kitchen. This way, you can enjoy your dream kitchen and pay for it in a way that suits your budget and financial circumstances.

If you’re interested in remodelling your kitchen and wondering about how to pay for it, get in touch with us and we’ll chat about the right finance option for you.

A dream kitchen brought to life

Thinking about a kitchen revamp but stuck for ideas? Check out a real-life customer kitchen designed by us. With our expertise, we’ve created a beautiful, functional kitchen that meets the customer’s needs. Get inspired and see what we can create for you!

• Marc’s Nobilia Kitchen, Cuffley
• Sally’s Next 125 Kitchen, Hertford
• Kirsty and Craig’s Next 125 Kitchen, Maidenhead
• Mrs Georgiades, Winchmore Hill, London
• Mathew’s Next 125 Kitchen, South West London