Typical Kitchen Remodeling Costs

Kitchen remodels typically cost more than budgeted.

A kitchen remodel serves to update your existing kitchen, make it more functional and increase the value of your home should you choose to sell. Before tackling a project, it's important to determine what you're able and willing to spend on your kitchen.

Minor

According to RemodelingMagazine.com's 2008-'09 Cost vs. Value Report, the average cost of a minor kitchen remodel nationwide is approximately $21,000 with nearly 80 percent return on investment.

Midrange

Remodelingmagazine.com's report states that the nationwide average cost of a major kitchen remodel is about $57,000 with a 76-percent resale value.

Upscale

An upscale kitchen remodel, according to Remodelingmagazine.com, averaged approximately $111,000 with a 70-percent return on investment.

Considerations

A down real estate market contributes to a lesser resale value for kitchen remodels. By comparison, in 2005 the National Association of Realtors reported a 98.5 percent return on investment for minor kitchen remodels, a 91 percent return on midrange remodels and an 85 percent return on upscale remodels.

Warnings

According to an article on MSNBC.com, no matter how much you plan, a kitchen remodel will likely cost more and take longer than you expected.

References

• Remodeling Magazine: Remodeling Costs vs Value Report 2008-09
• MSNBC: Tips for a better kitchen remodeling project

Resources

• CostHelper: Kitchen Remodeling Cost and Tips
• Better Homes & Gardens: Remodeling Cost Guide--Kitchens