What Goes Into the Kitchen Remodel Cost? |
Posted: July 30, 2019 |
There are many variables that are factored into the total cost of remodeling a kitchen. For instance, the size of your kitchen is a huge factor when computing the expenses. You also add the materials used--marble, granite, and premium backsplash will quickly eat your budget. You should also include the scope of the project and the labor costs in your area. Each kitchen remodeling project is different. You may hire the same contractor as your neighbors who just had their kitchen done but don’t be surprised at how different the quotations are. How Much is the Average Kitchen Remodel Cost? When you take in all the variables, you’re looking at a cost that falls between $18,000 and $58,000. Of course, you can finish the project with a budget of, let’s say, $3,500. However, on average, homeowners spend around $20,000 to enhance their kitchen space. Nonetheless, it should surprise you that the difference in the everyday expenses in urban metropolis cities like San Francisco, California, and Birmingham, Alabama are not that different. People tend to put a stock on the cost estimates from online websites. Just because the average American spends $20,000 on the kitchen remodel cost doesn’t mean you should too. However, your Zip Code also plays a role in your kitchen remodeling plans. Generally speaking, property valuations in rural areas are cheaper, as compared to urban areas. Homeownership- or the cost to maintain your home– is generally more expensive in rural areas. In the same vein, labor costs are also cheaper in the rural area, as compared to urban settings. In the end, it all checks out just fine. Increasing the Resale Value of Your Home Most realtors agree that prospective homebuyers often judge a house by the kitchen and bathroom design. For the most part, it’s a deal-breaker if the kitchen is too tacky or the bathroom is too small. Renovating your kitchen and bathroom will immediately increase the resale value of your home. This is a worthwhile investment if you’re looking to maximize the potential value of your property. Among the different home improvements, the kitchen and bathroom also yield the most return on investment. For example, you can recoup more than 90% of the cost of investment from your kitchen. Budgeting Your Kitchen Remodel Cost About 65% of the total kitchen remodel cost is spent on appliances and the finishing touches. It’s understood that if you use premium materials, it will increase your expenses exponentially. About 30% of the total cost will go into labor. You can’t reduce the total value because the prices and labor costs are fixed, but you can manage your expenses better. To illustrate, you can repaint your cabinets white because it’s a basic and safe color right now if you’re planning on listing your house. You can change the accessories, fixtures, and the countertops too. They are the first components that will draw the attention from potential homebuyers; you can also consider vinyl for the floor. Although it has received bad rep over the years, vinyl products now resemble high-end hardwood floors. The technology now is quite advanced, and you won’t even notice the difference. You can also splurge on an elegant backsplash to elevate the design of your kitchen. These make up the cost to remodel your kitchen, and you have to craft a strategy for your project and stick to it.
|
||||||||||||||
|