How much does remodeling a kitchen cost?
One of the best ways to calculate your kitchen remodel budget is to use 6-12% of your home’s value. So if you own a $200,000 home it is most efficient to set your budget at $12,000-$24,000. It all depends on what you want to accomplish with your remodel.
Popular Reasons Why People Remodel Their Kitchen's
How much does a new kitchen add to the value of your home?
According to an article, by Kristen Hampshire, of HGTV “your kitchen renovation should earn a 70% return on investment (ROI) when you sell your home”. Several factors come into play when trying
to estimate the possible ROI on your kitchen remodel.
The primary factors are where do you live and what you choose to improve. Spending $50,000 on a kitchen in a neighborhood where homes cost $200,000 would not be realistic or bring the type of ROI you would expect. Setting the proper budget for your area is essential to recovering your investment. Also you want to make improvements that would allow you to experience the full potential of your investment. According to HGTV’s frontdoor.com, the best ways to add value to your home is to renovate with new flooring, cabinets, countertops and/or appliances.
Best Ways to Invest in Your Kitchen
Flooring Return On Investment (ROI) Graphic
With Kitchen cabinets you can get as fancy or plain as you like. Your kitchen cabinets should reflect the rest of your home and its value. Cabinets are really the make-up of your kitchen and give your kitchen living space its character.
Stone (High ROI)
Tile (Medium ROI)
Quartz (Medium ROI)
Concrete (Medium ROI)
Laminate (Low ROI)