The kitchen is the hub of a home. It is the heart of a homely haven where we all gather to eat food and talk about the day. When it comes to remodeling a kitchen, it pays to know how much it will cost you beforehand, so that you are not caught unawares.
The cost of remodeling a kitchen is determined by the design decisions you make and the size of the space you want to use. In general, homeowners spend between $12,500 and $35,000 on kitchen remodeling. However, it is possible to execute a small project with as little as $4,000 and do something extravagant with as much as $50,000.
10%-15% Value of the Home
The basic recommendation is to spend 15% of your home’s full value on the remodeling of your kitchen. For instance, if your home is valued at $175,000, your remodeling budget should be $26,250. But even with that said, it is always best to work with a 10% budget and guard against unforeseen costs.
There are different factors that determine how much you spend on kitchen remodeling. Those factors include: whether it is a pre-existing unit, the location, how long the project will last, and how much of the project you intend to handle yourself.
When you handle the demolition yourself, you save money. However, it might be smart to leave that to the professionals, so that you do not accidentally destroy pipes or cut electrical wiring.
Professionals & Expenses
An architect charges between $60 and $125 per hour for a project. The wages of a contractor with a crew and supplementary expenses also need to be covered. For a day, you will need to pay between $300 to $500 daily for the contractor and $150 to $250 for labor work. You will also require the services of a certified kitchen designer. A creative kitchen design company that can provide you options you never considered can cost you $40 to $75 per hour.
You might be looking at having an awesome kitchen with trimmings that are top-of-the-line. However, investing in the best quality materials, does not make sense because you eventually have to divert the money you spend to the resale value of the home. Materials account for over 80% of your kitchen remodeling budget, so allowing some concessions allows you whittle down the overall cost of the project.
For instance, instead of settling for granite countertops, go for wooden ones which are less expensive. Additionally, you can do some of the less technical tasks yourself like painting.
Choose an Around for Awhile Style
When remodeling your kitchen, make sure that you choose a style that does not become redundant after a few years. Choose classic tones like Cherryville and white cabinets that stand the test of time. Incorporate neutrals, install a farmhouse sink and complement your enduring style with traditional details and contemporary accents.
Having a strong grasp of your home’s current value goes a long way in helping to decide how much you can spend remodeling a kitchen. To determine the value of your home, compare it to other properties in the area. Pay attention to houses similar in build and features to determine how much your house should go for. You can also engage the services of a real estate agent to appraise your property and give you the price in today’s market.