How Much Does it Cost to Renovate a Kitchen?
The couch, the hearth and the television may all be in the family room, but somehow most gatherings end up in the kitchen. So having a space where you can work and live comfortably may be worth the investment for you--as long as you know ahead of time what that investment will be. Costs for kitchen renovations vary widely, based on the level of renovation and the location of the home. Does this Spark an idea?
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Determine Wants and Needs
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Before you can even begin to gauge the renovation costs, you have to decide exactly how much work you'll be doing. Remodeling a kitchen can involve plumbing, electrical work and major construction, so the sky could be the limit if you don't set boundaries right away. If you plan to stay in your home indefinitely, a larger investment may be worthwhile. But if you're renovating in order to sell, you should probably stick to cosmetic changes like flooring, appliances and cabinet refacing.
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Determine Involvement
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If you're planning a "minor" renovation, you might be able to save even more money by doing some of the work yourself. Painting, refinishing cabinets, replacing countertops and possibly replacing flooring are jobs that even a weekend do-it-yourselfer can often handle. If you have the time to complete the job on your own, then your only expense will be for materials. But a renovation that involves reworking a floor plan or moving plumbing or electrical wires should be handled by professionals--and that will have a dramatic effect on your bottom line.
Consider Costs
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The average cost for cosmetic improvements to upgrade a kitchen (cabinet refacing and new flooring, countertops and appliances) was just over $15,000 in 2008. When the project gets more involved (reworking a floor plan or completely replacing cabinets) the costs generally range from $50,000 to $100,000 or even more.
Other Factors
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Other factors will also affect the cost of your kitchen renovation. One of the most important factors--and one over which you have no control--is the location of your home. Certain areas of the country tend to be higher-priced for both services and products, and remodeling is no exception. If you live in a large metropolitan area, you can expect to pay 10 to 20 percent more than someone living in a more rural area. And certain parts of the United States (particularly the West Coast and the East Coast) pay a more significant amount than others (especially the Midwest).
Benefits
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Renovating a kitchen for the purposes of resale value should be a decision made cautiously. If you don't plan to stay in your home long-term, you are unlikely to recover much of this cost at resell, unless you keep your investment small. On average, renovated kitchens added between $13,000 and $15,000 to the sale price of a home in 2008. But if you're renovating a home that's going to be yours for a while, making the kitchen truly the heart of your home could be worth every penny.
References
- Photo Credit Image by Flickr.com, courtesy of AVID Tile & Design Inc 951-279-4104
