A report by leading business advisory firm BDO has found that DIY stores have suffered their worst first quarter since 2014. In a worrying trend that has seen steady decline, the report stated that sales had fallen by “1.7%, compared with the last quarter.” Sophie Michael, BDO’s Head of Retail and Wholesale believes that this is because retailers have “returned to negative like-for-like revenue growth.” She believes that “the canny consumer continues to shop for bargains.
However, despite this downturn for DIY and homeware stores, a particular kitchen facelift company, Kitchen Restoration, has continued to defy the odds and is busy transforming kitchens across the UK.
What are the Alternatives to an All-Out Refit?
The reason behind Kitchen Restoration’s continuing success in the face of such gloomy statistics may well have something to do with Sophie Michael's comments. In the current climate the decision to refit an entire kitchen is a costly one, both in financial terms and the associated inconvenience. In addition, the buy-to-let market is booming, and according to a report by The Spectator, “14.5% of all mortgage lending in the UK in the third quarter of last year has been to buy-to-let investors.”
As a result, this particular marketplace has become oversubscribed, forcing landlords and leaseholders to increase the impact of their properties to attract the right tenants at the right rental return. However, when it comes to kitchen refurbishment, this means looking for a cost-effective alternative to an all-out refit.
Homeowners Maximize Their ROI
Kitchen Restoration has offered that alternative for almost a decade. Rather than going through the stress and expense of ripping out a kitchen and starting from scratch, landlords and homeowners looking for a quick sale are maximizing their ROI by buying bespoke replacement kitchen cupboard doors. With estate agents estimating that a well-presented kitchen can add between1% and 7% to the overall value of a house, this makes good financial sense.
Are Bespoke Replacement Kitchen Doors the Way Forward?
For homeowners who want a new-look kitchen but don't want to spend significant sums, Kitchen Restoration’s solution comes with added benefits. Many a DIY expert has fallen foul of the quirks and inconsistencies of their own kitchens. While many DIY stores push the idea of the ‘one size fits all’ kitchen, the truth is that many kitchen storage infrastructures have been modified to fit into the available space. As a result, mass-produced kitchen doors tend not to fit.
Kitchen Restoration’s answer is to supply bespoke replacement kitchen doors that fit the spaces they were designed for, and for less than the cost of a full refit. It seems that, for now, canny consumers have the upper hand when it comes to finding cost-effective ways to give their kitchens that much-needed facelift.
