Best way to afford a new kitchen?

[Elisabeth3468]

We want/NEED a new kitchen next year. My dad is a carpenter so will fit it so only need to buy the materials really. It's a small kitchen and have been quoted £5K but possibly could spend up to 10K with more expensive/better appliances.
But the question is the best way to afford it-
We are due to re mortgage the end of next year after having 5 years fixed term. So I was thinking of borrowing a bit more money and putting it on the mortgage ?
Or is a better option a bank loan?
I really am clueless. We can't afford to cash buy or a massive change in outgoings so looking at the cheapest route really.
If anyone has any advice it would be appreciated.

Do you need a whole new kitchen? If not, just do the bits that need doing. We did ours bit by bit instead of all in one go as the cupboards and layout was fine. So we had the cupboards spray painted to a different colour. New hob because it broke. Then later had a new worktop and tiles. New cupboard handles. Then finally the new floor.

No body "needs" a new kitchen, assuming you have one in the first place, anything can be repaired!
My kitchen is so old it doesn't even have those adjustable hinges, i ve not got the money and when the oven went, i got a nearly new £600 Zanussi oven off market place for £150.

You "want" a new kitchen.

I wouldn’t go into debt to pay for it and you are hugely lucky you have your Dad who can make whatever you get look good.

As others have said look for second hand. We ended up buying 2 used ones as got the first then a second came up with had things like a larder cupboard, breakfast cupboard and Belfast sink. There’s lots left and at some point I will most probably give some away once we have sorted out what we want for garage storage and building in some alcove cupboards.

If your jobs are secure, I'd go for a 0% credit card and try to pay it down quite aggressively- some of them can stretch for eg 2 years. Alternatively I'd try to source a decent rate bank loan.

So far, it seems that you have mould beginning to appear in the back of some cupboards, and you want a dishwasher. Are there any other problems with the current kitchen?
Because you would need address the mould issue whether you have a new kitchen or not. Get the damp sorted, then clean the cupboards, I can't see that you actually need new ones.
Could you just buy a dishwasher ( maybe a re-conditioned one) and get it installed? Maybe you'd have to lose a cupboard to do that, but I imagine your dad could help with that.
It doesn't sound as if you actually need to get into debt for a whole new kitchen.

We got an interest free loan from B&Q for ours which included fitting.
We did actually have the money saved and are getting interest on it so its a no brainer for us.

Seconding the suggestions for IKEA interest-free loan, you can get the appliances, handles, worktop, even lighting and dining furniture etc there. Look on FB Marketplace for flooring and other elements you need for free or pennies. So long as you don’t need structural changes or move plumbing and electrics, and you’ve got the free fitting, you can bring it in for not much - I’ve even found good quality paint on FBM, if you choose a bog-standard white you can get a few part-used tins and mix them all, save a fortune.

I wouldn't add it to a mortgage unless there were no other options. As another poster said, you'll be paying it off for many years. Generally speaking, you should avoid taking on debt that will take longer to pay off than the item will last. I know someone who remortgaged to buy a new car. Madness.

If you're remortgaging the end of next year, I'd wait to see what the new rates are looking like before committing to extra expense - as it may well end up having to go on higher interest rates.

We are remortgaging anyway next year and have many many more years of paying it. We only bought the house 4 years ago. I'm 28.

All the more reason not to add debt for a kitchen to your mortgage. Do you really want to be still paying for this kitchen in 20+ years?

They might get a better mortgage deal and end up paying less per month than they are now, even with an extra £5k.

@OswaldCobblepot Well I'll be paying it still in 20 years regardless 🤣 so may as well enjoy a new kitchen.

You won't be enjoying it for long if you don't sort out the damp/mould/ventilation issues first. You'll just be paying for another rotting, mouldy kitchen.

We lived with a really awful old kitchen for several years whilst we saved up for a new one. Get the mould problem sorted, spend a few years saving up, then buy the kitchen.

It's not worth going into debt for.

You can buy a pre used one off of eBay. If your Dad's a carpenter he can make it fit.

You can.pick up a pre used one off of eBay for under a £1k. You usually have to collect and take it to bits. Maybe your Dad could help you.

www.ebay.co.uk/itm/267075615218?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=CK90XnZeR4-&sssrc=4429486&ssuid=grn2ux5ht_y&var=&widget_ver=artemis&media=COPY