Three easy Steps

Kitchen Remodel Costs

Dreaming of updating your kitchen? Now is a great time to update! You will increase your home’s value and be prepared for the upswing in the real estate market. This kind of project can be as small as new paint, trim and window coverings or it can involve completely gutting the room and starting from scratch. Of course, with so many possibilities, the cost will vary widely. On an average remodel, you can spend anywhere from $10,000 to $50,000, but really, the sky and your budget are the limits. Depending on the scale of your remodel, you will need to hire a variety of professionals and also check into permits you may need.

Plumbers, electricians, drywall hangers, painters, tilers, etc. can all be a part of a kitchen remodel. It’s best to have the help of a professional interior designer or general contractor to coordinate all the other professionals you may need for the job.

Investment

How much is a reasonable amount to pour into a kitchen remodel? Well, the kitchen and bathrooms are the biggest factors in resale value, so while it’s good to update, you don’t want to spend so much that you don’t get a return on your investment when you sell your home. The general rule is that you should not spend any more than 25% of the value of your home.

Saving Money

To save on your remodel project, consider a few points. If you keep your existing layout, you will have fewer electrical, drywall, flooring and plumbing costs. Do you really need that designer finish on your cabinets? Maybe you can refinish your existing cabinets. Maybe your hardware on the cabinets can stay the same? How much of a rebate and/or tax credit can you get for upgrading your appliances to more energy efficient models? Could the savings there be applied to your overall project costs? Donating used appliances and furniture is also an option that can save you money in tax credits if you make sure to save your receipts.

SubContractors

If you want to save on a general contractor or designer, the big question is, “How much is your time worth?” Next in line is “How much spare time do you have?” You can hire and coordinate all the subcontractors yourself, but you’re in for a significant time investment and a lot of scheduling, problem solving and time management issues. If you are retired or work from home, this may just work out for you. If you work 60-80 hours a week, you are not going to be able to supervise your workers or be on site when they run into problems. This can cause delays and you may not catch a mistake until after the sub completes the job.