Lots of homeowners think about kitchen remodeling for years, and when they start getting serious they often run into sticker shock. Maybe the longer you dream about your new kitchen, the longer the list of things you want and that's great until it's time to face the reality of kitchen remodeling costs.
There are many websites that offer tools to help estimate your kitchen remodeling costs but you need to have a good idea of what is practical. You also need to understand where websites get their information and what they're trying to sell you, as that will influence how they present their information.
One of the best tools to help you decide on your remodeling budget is the annual Cost vs Value report from Remodeling.com. They provide:
- List of the features included in each of the three kitchen remodeling projects surveyed.
- Kitchen remodeling costs are given for the US, and then for seven different regions of the US.
- They include an estimated return on investment (ROI) for each project, e.g. how much of your investment you can expect to recover when you sell your home.
The last point is really important when it comes to setting your budget. You want to update your kitchen so you enjoy it more while at the same time keeping an eye on what's practical for the size of your home and location.
Kitchen Remodeling Costs Based on What's Included
So let's look at the features that Remodeling.com for three different kitchen remodeling projects included in this years survey. What you first want to understand is that the projects with lower kitchen remodeling costs, are expected to provide a higher return on investment.
- The minor kitchen remodel for under $19,000 is projected to recover 82.7%.
- A major kitchen remodel costing just shy of $55,000 is anticipated to return 74.2% and
- An upscale project with kitchen remodeling costs of $110,000 should return 63.6%.
The feature that is missing in all three of these remodels is changing the floor plan to add space or create an open concept kitchen space by removing one or more walls to adjacent rooms. When adding these structural costs into the project along with plumbing and electrical changes, costs can go even higher than what's shown below.
Are you planning to remodel your kitchen soon? You'll want to identify which activities you use your kitchen for, and then search for kitchen design ideas and features you want are Pinterest and Houzz.