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How Much Does a Kitchen Renovation Cost?
Sunday, July 24, 2016

When it comes to remodeling projects, a kitchen renovation provides one of the highest cost to benefit ratios around. Not only does the homeowner gain a fantastic new cooking and entertaining area but also adds tremendous value to their home. Still, this type of project requires some serious time and energy as well as a significant amount of capital – from $5,000 for minor changes to $75,000 or more for a complete makeover. Here are a few things to consider when estimating your next kitchen remodel:

Cabinetry and Other Materials

Materials are easily the largest portion of any renovation budget. In fact, they usually account for eighty percent of the budget while labor cost only represents the other twenty percent. In particular, the cabinetry will usually consume thirty percent of the total budget and appliances – depending on how exotic and diverse you want to get– another fifteen percent. Next, windows and doors plus lighting will take up another five percent each. Your choice of finishes will also have a significant effect on the total cost. Granite and hardwoods are significantly more expensive than laminates and veneers.

Custom vs. Stock Items

If budgetary constraints are a concern – and aren’t they always? – using stock items instead of customized ones will make any kitchen renovation project far more affordable. Similarly, there are a great variety of excellent but reasonably priced appliances that can significantly reduce a renovation budget. In short, choosing kitchen appliances is a fairly straightforward process. Just decide on what your budget is ahead of time and then browse prices until you get one that fit your needs and price range. One last point – if you are remodeling in anticipation of selling your home, do not skimp on appliances as they are one of the first things that potential buyers look at. Any costs incurred on appliances are easily recouped in a higher sales price.

Planning the Remodel

It is essential to plan every step of a remodel. Otherwise, you will spend an inordinate amount of money with change orders. Start with your flooring choice, then decide on the walls. Next choose your ceiling and the lights. Finally, decide on the furniture. In this way, you can coordinate the entire décor without over-stretching your budget. Other considerations include the cost of delivery, the cost of installation and the cost of removing the old appliances and cabinetry. Consult a kitchen design professional to finalize these details but try to replace as many of the appliances with similar ones to avoid costly electrical and plumbing refits.

Choosing the Contractor

There are more “general” contractors than the average homeowner can shake a stick at. Instead of using one of these all-purpose builders, try to find one who specializes in kitchen remodels. They may be slightly more expensive when it comes to their time but their experience will more than make up for the fact with better overall quality, shorter completion times and less aggravation. Look to friends and the BBB for responsible recommendations. It will pay dividends all throughout the process as well as at the end with a quality job. When first interviewing contractors, examine their licenses and insurance, get several local references – and check them! – and make it clear that all proper permits will be pulled. Remember that, as the homeowner, you will be held responsible for anything that happens on your property.

For more specific information on designing and installing your next kitchen remodel as well as the final cost, please contact us at Midwest Property Professionals.

You can visit the rest of our website or call our team directly at 513.488.1000.




 

 

 

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