Renovating a kitchen is a good way of boosting the price of a property, research has suggested. Halifax found that while many considered updating their garden or adding security measures as ways of providing the best return on investment, kitchen upgrades may be a cheaper option. The study revealed that the average kitchen renovation cost 6,348, with the perceived monetary added value estimated at 7,666 - a profit of 1,312.Stephen Noakes, commercial director at Lloyds Banking Group, stated This research has shown that it is often the low cost, straightforward home improvements that are perceived to add the most monetary value to a home.Adjustments such as these benefit from being achievable at minimum cost and do not require specialised tools or materials, he added.Writing for the Sunday Mail, Danny Sheridan recently advised individuals looking to make improvements to their home that kitchen sink areas can be upgraded on a small budget.