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Kitchen Finance | Best Way To Finance Kitchen

Every home deserves a good kitchen. Kitchens have taken many styles and shapes. However, renovating your kitchen to look more modern nowadays may appear expensive. Hence, the essence of seeking various financing options for your kitchen. So, herein we have highlighted various kitchen finance options. 

Meanwhile, maybe your cooker has started misacting again, or that cupboard door just won't close right. Or are you considering the cost of moving versus giving your kitchen a fresh look? If you've been thinking about that upgrade you always wanted, you will be curious about the expenses involved.

Back in 2018, the average starting cost for a new kitchen was around £14,000 for a basic setup, as reported by "Which? magazine". For more customized and larger options, the costs could go well into the tens of thousands. Whether you decide to tackle it yourself or go for a premium fitting service, brightening up the heart of your home doesn't come cheap.


However, your kitchen budget should align with what you can comfortably afford. We're here to give you insights into the possible expenses you might face and the best ways to manage your finances for your exciting home improvement project.

What Influences The Cost Of A New Kitchen?

Many things can influence the cost of setting up a kitchen. From the planning stage of your new kitchen to adding the finishing touches, you will discover the potential for your costs to grow extensively as gadgets and premium accessories start to become a must-have for your new kitchen.

Thus, if you can note the key parts of your kitchen renovation that could incur a cost, you can better plan your budget. This will help you better tailor down which areas you’d like to save on, and which you’d like to spend more on. This can therefore help you stay in control of your budget.

Below, we've helped you elaborate in detail on the different types of costs you might incur when trying to set up your kitchen. You can see them below to make a better decision;

#1. Pre-Project Costs

Before you even think about your new kitchen gadgets, you have to consider some initial costs.

If you're good at fixing things and want to save money, you can measure and take apart your old kitchen by yourself. But if you have some extra cash, hiring a pro can save you time and energy. 

Tasks like plastering, painting, and tiling the floor might be needed before your new kitchen arrives. You can do these tasks yourself or hire someone, and it might affect how much you spend in the end.

#2. The Range

You probably have a budget in mind and know what you want. Kitchen shops usually show different kitchen styles in their stores or catalogs. The variety helps you find one that fits your budget and home needs.

There are different kitchen ranges, from basic ones that do the job without fancy designs to custom options where you can make your dream kitchen layout. More choices might mean a higher cost, so keep that in mind when you decide what to buy.

#3. The Number of Units

How big and what shape your kitchen is can affect the cost. Starting from how many tiles you need to how much countertop space you have.

The number of new kitchen units also plays a role in the cost. The size and layout of your kitchen decide how many units you'll need. With more people wanting extra storage, the kitchen is a good place to add more cabinets. But remember, more units can make your kitchen more expensive.

#4. The Type of Worktop

After figuring out your kitchen units, it's time to pick a suitable worktop. There are different options, and each has its benefits and costs. Let's explore some popular choices to help you think about the price of your new kitchen worktop:

  • Laminate: The most budget-friendly option. Easy to install and clean, but not as tough as others. With proper care, it gives you good value for money.

  • Timber: A classic choice that never goes out of style, but it might need more maintenance.

  • Granite: Stylish, durable, and easy to clean, but could be costly to replace if damaged.

  • Marble Quartz: Strong and durable but comes with a higher price tag. Consider if the initial cost is worth the long-lasting use.

#5. The Cost of Appliances

When getting a new kitchen, don't forget to include the cost of appliances in your budget. Most kitchens need essentials like an oven, hob, fridge, and freezer. While microwaves and dishwashers are extras or 'nice to haves.' The prices of these appliances vary based on the brand, specifications, and whether they are integrated or free-standing.

If you have a bit more budget, you might want to think about luxury items like a wine fridge or a sink disposal unit. An American-style refrigerator or a range-style cooker can also complement the look of your new kitchen.

#6. Kitchen Installation Costs

After picking the kitchen that fits your budget, the next step is installation.

If you're good with DIY (Do It Yourself), you can have the components delivered to your door and fit it yourself. Doing it yourself can save money, but if you're not experienced, you risk fitting things incorrectly, leading to leaks and uneven cupboards that might need expensive fixes.

Ordering from a recommended retailer usually gives you the option to arrange professional installation. Choosing a specialist ensures your kitchen is fitted correctly the first time, saving you time, and with a fixed cost, there shouldn't be surprises.

What Is The Best Way To Finance A Kitchen?

After you’ve chosen all the different parts for your brand-new kitchen, you have to consider how you intend to pay for it. There are six different ways you could cover the cost of your new kitchen. However, the type of financing you choose will depend on the size of the project and how much you can afford to spend or repay. Here we’ll look at each option in more detail, so you can find the circumstances best for you;

#1. Personal Savings

If you have enough saved up, you can pay for your new kitchen without credit or a loan. Meanwhile, take note that using your savings means your extra cash is gone, and check if there are fees for withdrawing.

#2. Credit Card

Use a credit card to cover your kitchen cost, depending on your card's limit and interest rates. Using this method for kitchen finance can be flexible, letting you spread the cost or accumulate expenses. Repay each month, meeting the minimum, and enjoy added protection.

#3. Personal Loan

If savings and credit cards aren't your thing, consider a home improvement loan to buy and install your kitchen. You can find a good loan company, apply, meet eligibility, agree on loan terms, and repay in installments. Ensure you keep up with payments until the loan is fully repaid.

#4. Interest-Free Credit

Buy your new kitchen with monthly payments and zero interest charges.

You have to ensure your credit limit allows it to use this method. This offers a handy option for large purchases without extra fees. So you have to check your card's terms and clear your balance before new interest rates kick in to avoid extra costs.

#5. Buy Now, Pay Later

Another credit option for significant buys, allowing delayed or spread-out payments. Move ahead with the purchase, delay the overall payment, but be ready to pay later. After the grace period, any remaining balance might face interest rates, costing more than planned. 

#6. Pay Monthly Kitchen Finance

Deposit and pay off your purchase monthly over a fixed term, potentially shorter than a personal loan. While you might clear your balance sooner, watch out for high APR rates this could mean paying more in the long run.

How Much Deposit Do You Need for a Rapid Kitchen


Rapid Kitchens can accept payments before installing your new kitchen. But Rapid Kitchen also operates on a buy now pay later scheme with 0% interest.  To access this payment plan, Rapid Kitchen operates through a third-party company called Klarna.  

  1. Installment Terms: Klarna often allows customers to split their payments into equal installments over a certain period. This could be monthly or within a specified timeframe.

  2. Initial Deposit: Klarna might not require an initial deposit for some payment plans. However, this can vary, and it's best to check with Klarna or Rapid Kitchens for specific details.

  3. Payment Plan Duration: The duration of the payment plan can also vary. It might range from a few weeks to several months, depending on the agreement signed through Klarna

  4. Eligibility: The amount eligible for a payment plan can depend on factors like the customer's credit rating and the specific terms negotiated between Klarna and Rapid Kitchens.

About Klarna

Klarna is a Swedish payment service provider that offers buy now, pay later (BNPL) services to online shoppers. Klarna's BNPL services allow customers to make purchases without having to pay for them upfront. Instead, customers can split the cost of their purchase into four equal payments, which are due every two weeks. Klarna does not charge interest or fees on its BNPL services, as long as customers make their payments on time.

To use Klarna, customers must first create an account and provide some basic information, such as their name, address, and date of birth. Once a customer has created an account, they can start shopping at any of Klarna's partner stores. When a customer is ready to check out, they can select Klarna as their payment method. Klarna will then perform a soft credit check to determine the customer's eligibility for BNPL services. If the customer is approved, they will be able to complete their purchase and pay for it in four equal payments.

Klarna's BNPL services are available to customers in several countries, including the United States, the United Kingdom, Germany, Sweden, and Australia. Klarna's partner stores include a wide range of retailers, such as H&M, Nike, Adidas, and Samsung.

Benefits of Using Klarna

  • Customers can make purchases without having to pay for them upfront.

  • Klarna does not charge interest or fees on its BNPL services, as long as customers make their payments on time.

  • Klarna's BNPL services are available to customers in several countries.

  • Klarna's partner stores include a wide range of retailers.

Drawbacks of Using Klarna

  • Klarna may not be available to all customers.

  • Klarna may perform a soft credit check on customers.

  • Klarna may charge late fees if customers miss payments.

Frequently Asked Questions About Kitchen Finance

What is kitchen finance?

Kitchen finance involves using various payment options, such as loans, credit cards, or installment plans, to fund the purchase or renovation of a kitchen.

How does interest-free credit work for a kitchen purchase?

Interest-free credit allows you to pay for your new kitchen in monthly installments without incurring interest charges, provided you clear the balance before any new interest rates apply.

What is "Buy Now, Pay Later" in kitchen finance?

"Buy Now, Pay Later" is a credit option that enables you to make a kitchen purchase and delay or spread out payments over a fixed period. Be cautious, as interest rates may apply after the grace period.

How does monthly kitchen finance differ from a personal loan?

Monthly kitchen finance involves making a deposit and paying off the purchase monthly over an agreed term, potentially shorter than a personal loan. However, be mindful of high APR rates that could result in paying more over time.

Are there risks with kitchen finance options?

Yes, risks include potential interest charges, fees, and the need to manage repayments effectively to avoid additional costs. Understanding the terms and conditions of your chosen finance option is crucial.

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