For most families, the kitchen is more than a room where food is prepared. It’s where they share a meal and enjoy each other’s company as they build and strengthen their bond.
Therefore, it vital that a modern kitchen is designed not just to be functional but also accommodating and relaxing as it will serve as a family room. Furthermore, a well-designed kitchen in impeccable condition increases the resale value of your house. This is why kitchen renovations are one of the most common home improvement projects.
What is the kitchen renovation cost average? This is the main question that lingers in the minds of homeowners who wish to revamp their kitchens but are worried about the costs involved.
Though kitchen renovations can cost as much as $75,000, small kitchen renovation costs can be as low as $ 5,000. Hence, determining how much does a kitchen renovation cost depends on several factors.
Are you thinking of bringing your kitchen to the 21st century with trendy design and alluring colors? Read on to get crucial insight that will help you get an accurate estimate kitchen renovation cost.
How Much Does a Kitchen Renovation Cost?
The kitchen renovation cost average varies depending on your neighborhood and the size of your kitchen, among other things such as the materials. When choosing materials, ensure you get value for money. In this regard, Caesarstone quartz is perfect for countertops.
Quartz is an engineered stone that has the alluring beauty of marble and granite but offers greater durability. It’s easy to clean and maintain, makes your kitchen more inviting, and adds a touch of elegance and sophistication.
Though it may be impossible to get a standard average cost of kitchen renovations, knowing the factors that influence it can help you come up with an accurate estimate. Here are some of the things that affect the cost of a kitchen renovation.
1. Total Value of Your House
Cost to value is an essential aspect of a kitchen renovation. Even if funds are available, it’s wise to set a limit to how much you will spend even before getting a contractor to estimate kitchen renovation costs. Doing so ensures that at the time of resale, you will be able to recoup what you spent.
In this regard, real estate agents recommend that your kitchen renovation cost should not exceed 15 % of the value of your house. For instance, if your home is worth $100,000, your kitchen renovation cost limit should be $15,000. However, as you make preparations, set a limit for 10%. This will ensure that overages (which are likely to occur) will not push your budget beyond the recommended limit.
To gain an unbiased estimate of the value of your home and an accurate estimate kitchen renovation cost, you should:
- Find out the price of houses similar to yours in size and features
- Hire a home appraiser or real estate agent to inspect and determine the value of your home
Though you can also use online home estimator tools to gain an idea of the market value, it will not be an official appraisal.
2. Reason for Remodeling
There are two main reasons homeowners invest in enhancing the aesthetics of their kitchen and making it more comfortable. This is to make it more accommodating for their family or appealing to potential buyers. The purpose of renovating will determine how you approach the project.
If you’re renovating to enhance you’re living experience, it is essential that your kitchen design suits your style and improves functionality. However, it is also crucial that you do this with the resale value in mind.
If you plan on selling your house within the next three years, it’s best to keep your kitchen renovation cost low.
3. Cost of a Contractor
Though there are minor adjustments you can handle, most remodeling projects require a contractor. When determining how much does a kitchen renovation cost, it’s important to factor in the cost of hiring a contractor.
The exact cost of a contractor will depend on how much work needs to be done and your location. The average cost of hiring a contractor is 50% of the total cost of the project. However, it can drop to 30% or rise as high as 85 percent. Either way, hiring a contractor is a worthwhile investment. They will give you an accurate estimate of kitchen renovation costs and ensure the project proceeds smoothly.
4. Scope of the Renovation
The kitchen renovation cost average estimate your contractor will give you depends on the scale of the project. Remodeling projects can involve minor, moderate, or major renovations.
If you’re wondering about small kitchen renovation costs, your project is likely to fall under minor renovations. These types of projects generally cost between $10,000 and $25,000 and entail minor upgrades that do not involve structural changes. Such changes include installing cabinet knobs, new light fixtures, or adding a backsplash and the likes.
An accurate estimate of kitchen renovation costs for a moderate renovation is between $25,000 and $45,000. For such projects involve minor upgrades as well as installing new cabinets and can include some modest structural changes.
If you want to give your kitchen an entirely new design and layout, you’re likely to need a major renovation. This will cost you between $45,000 and $75,000. Major renovations may involve significant structural adjustments such as:
- Adding or removing walls
- Adjusting the height of the ceiling
- Installing new floors
Major renovations are costly, and you may have to use a makeshift kitchen for a few months. However, once the project is complete, you will have a stylish design that will give your kitchen a new lease of life.
How to Get the Most from a Small Remodeling Budget
There are many aspects to a kitchen’s design that have varying effects on aesthetics and functionality. As you work to keep your small kitchen renovation cost low, choose adjustments that will fit into your budget but will have a significant impact. If you’re considering total home remodeling, this is how you finance it the right way.