Like I always say, kitchen is the heart of any home. You will always find family members flocking around the kitchen table to have some small talk with each other. Even guests have this uncanny habit of dropping into your kitchen during parties or get together. Needless to say, this is one area of your home, you cannot possibly choose to ignore. Giving your kitchen the best possible look is a must if you wish to transform it into a cozy and inviting place for your friends and family. The problem is, kitchen remodeling happens to be one of the most expensive jobs in this field. Hence, many home owners are reluctant to take it up at the first sign of wearing off. They wait until the paint begins to peel off and the kitchen countertop starts chipping off. A less than perfect kitchen can diminish the resale value of your home, should you decide to sell it in near future. On the other hand, the investment in kitchen remodeling often pays off for itself.
Kitchen Remodel Budget
Before you start hunting for cost estimate, it is best to sit down and do some paperwork first. Find out how much you can afford to shell out for the remodeling work. Cheap ideas for kitchen makeover are available which will help you to cut your cost to half. Also, consider the extent of remodeling work, whether it is a touch up job, to give it an instant lift or you plan to do a complete makeover. The actual cost will most likely sway between these two extremes. If you cannot decide upon the extent of remodeling, a budget list for your kitchen may help. Jot down the items that need complete replacement and those that can still work with a quick fix up. Assign a realistic cost estimate for every individual item on your list. The items that demand a complete replacement will most likely eat away a substantial part of your budget. However, replacing most items also means that you will get better value for your home when you decide to sell it. If not, you can enjoy the look of a brand new kitchen. It is important to keep your expectations and budget realistic, else you will end up with a lot of disappointment. Also, assign 10% of your total budget for contingency expenses, which might arise unannounced.
Kitchen Remodel Cost
Determining the exact cost for your particular kitchen is impossible. There are several factors which influence the cost of kitchen remodeling. The size of your kitchen, the extent of remodeling work as described above, the raw and finished materials used etc. The reason why cost of kitchen remodeling tends to run high is due to the wide use of pre-finished and finished materials. These materials are available in qualities ranging from the most basic one to highly exotic. As a result, there costs also vary in that proportion. Hence, arriving at a correct kitchen remodeling cost estimate becomes even more difficult. According to the National Association of Realtors 2005 Cost vs. Value Report:
The average remodel cost for an upscale kitchen is $81,552 and has a payback of 84.8 percent.
The average remodel cost for a mid-range major kitchen is $43,862 and has a payback of 91 percent.
The average remodel cost for a minor kitchen is $14,913 and has a payback of 98.5 percent.
Although, these costs look overwhelming at a first glance, one must understand that these remodel jobs are a work of professionals with no DIY or cheap shortcuts. The materials used are of standard quality and the extent of renovation is often full-fledged. You can save a lot of money if you opt for DIY on some jobs or decide to go for some thrifty shortcuts. On the other hand, you can expect the cost to swell if you decide to settle for high-end, exotic materials. Cost of luxury, custom-made kitchen can go as high at $1,10,000.
Hope this article gave you some insight on the actual cost of kitchen remodeling. We recommend going through our budget kitchen remodel ideas if you are on a strict budget.
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