The 3 most common questions I hear regarding kitchen and bath remodeling are; “How much does a new kitchen cost?”, “What does a new kitchen cost?”, and “How much will I need to invest for my new kitchen?”. Obviously that is one question asked several different ways. There are even more ways to answer that question than there are to ask it. There are so many things that will alter the cost of a new kitchen it is very difficult to give an answer that will fit everyone. But in an attempt to answer this popular question, here are some ideas and a good starting point.
For the purposes of this article I will look at purchasing a kitchen from 2 perspectives. First, the largest portion of the renovation is typically the cabinets. Focusing on the cabinets (while not what I always recommend) the cost can vary. For a small kitchen, using basic cabinets, with few options; a set of cabinets can be just a few thousand dollars. I have seen invoices where the cabinet cost is less than $3,000. For a slightly larger room and some cabinet upgrades, a range of $5,000 – $10,000 is common. As with most things you get what you pay for, so high end cabinets with many options to fill a large room can be $15,000 – $22,000 or more.
We specialize in a complete kitchen renovation which, in addition to the cabinets, includes counter tops, flooring, appliances, some general construction, and complete room prep and installation. This looks entirely different than a quote on cabinets only. In most cases, it is a good idea to look at the entire project when getting a quote, so you have an accurate idea of what the renovation will cost to complete. Many times a complete kitchen renovation can be compared to purchasing a car. You can get a kitchen that would be considered “basic transportation”. Most of our clients are looking for a step above basic transportation, so the price increases according to several factors. Size of the room, quality of the products used, and options included will all add to the price (just like when purchasing a car). Unlike a car, however, a kitchen still has other variations. Those variations are why it is important to discuss the renovation with a kitchen professional. And just like a car, “luxury transportation” for your kitchen can exceed $100,000, but that sure is a fun kitchen to “drive”.
Another consideration is the home into which the kitchen is installed. If resale is in the foreseeable future, that is a vital part of the planning process. Many in the real estate industry suggest a budget equal to 15% – 20% of the value of the home be invested in a kitchen renovation, 8% – 10% for a master bathroom renovation. That amount will maximize your return on investment when you sell your home. If there are no plans to sell, many times our clients will go above 20% to ensure they will continue to enjoy their new kitchen for many years to come.
As mentioned earlier, there are so many things that can alter the final price of a kitchen remodel. I would be happy to discuss more details about your planned renovation. Click here for additional information or to schedule a meeting. Hopefully this gives you a place to get the conversation started.