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According to the National Kitchen and Bath Association, current costs for kitchen makeovers range from $15,000 to $45,000, with an average price of almost $27,000. Cost can vary based on region, design, materials, quality of appliances and budget. Careful planning can help you get themost value for your investment, simplify maintenance, maximize efficiency, functionality and beauty and reflect your own personality.
Planning Your Kitchen Remodeling Budget
1-Consider the market value of your home to determine your kitchen remodeling budget. Studies suggest that 90-98% of kitchen remodeling costs can be recouped, but kitchen remodeling is only a good investment if the cost is relative to the house’s worth.
2- Keep it below 15%. Generally speaking, a kitchen remodeling budget should not exceed 15% of your home’s value. Of this budget, at least one half of the cost should be designated for cabinetry. Another 15% can be expected for appliances, flooring and other goods like lighting, plumbing fixtures, etc. The remaining 35% includes the costs of labor, design, contracting services, permit fees, etc.
3- Working With Your Budget. Be honest about your cabinet budget. Better communication in planning results in lower stress for everyone.
4- Plan ahead. Make a list of all of the features you have in your existing kitchen and make a list of the new things you need in your kitchen. The best way to avoid overspending your budget is to be specific in your planning.
5- Consult a design professional. While they do charge for their services, their experience and insight can more than compensate for costly errors due to inexperience or misinformation. They may notice details you might forget, or anticipate expensive structural changes that you might overlook.
6- Cost Cutting Suggestions-While cutting costs in some areas can be helpful, weigh your options carefully. Do some of the work yourself, but be realistic in what you can accomplish.
7- Older homes may require extra electrical or structural upgrades to accommodate the remodeling project and bring the structure up to local codes. Homes newer than 20 years are less likely to need major work of this nature.
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