To invest in real estate is one thing. But, to think of renovating any part of the house takes an extensive and exhaustive amount of time and calculation to ascertain the kind of cash you’ll be putting into it.
More often than not people end up having to spend way more than what they had wanted to simply because there are only a few who actually know about the cost breakdown of a remodeling venture.
A significant area demanding great financial buffers is that of the kitchen. For all who know how much it takes to remodel the heart of the home, the average cost breakdown is always the essential guide that helps significantly in the process.
To find out more on the subject, go through the following extensive read on an average kitchen remodel cost breakdown.
What is the Average Kitchen Remodel Cost Breakdown?
What to keep in mind?
The average cost that could be incurred in remodeling a kitchen will entirely depend on the dimensions of the space and the kind of materials and options you opt for.
One-third of the cost will most certainly go into plumbing, electricals, mechanicals, plaster, and framing. Finishes would claim another third of the budget while the last or final third would go into installing these finishes.
It’s not for nothing that the national average cost incurred last year on a minor or mid-range kitchen, according to the Remodeling 2022 Cost vs. Value Report, was calculated to show a whopping $21,198 on the sheets.
And for what it’s worth this statement further goes on to add another $63,829 for a major, midrange renovation and an average of an astonishing $125,721 for an upscale kitchen renovation! And this doesn’t even include any layout alterations, electrical or plumbing!
These stats will only increase if you happen to live in an expensive city like New York so whatever “average” we’re talking over here right now, is still going to be a lot of money.
The other important thing to keep in mind is how long you’re actually planning to stay in the house. This is one of the major things to consider when it comes to long-term investments such as this one. Whether or not you’re planning to stay or sell your house within the next 5 years should be considered while deciding on the budget for your kitchen remodeling at all costs (no pun intended there)!
Do keep in mind to invest only the amount of money that you would get back when you sell the house. And if you plan to stay for more than 5 years (long term), then, by all means, you should invest in ensuring the comfort of your family.
An investment in kitchen remodeling should be an improvement and upgrade for a substantial return and not a liability incurring devastating losses.
The real challenging feat is to decide from a wide range of the latest, most incredible materials of finishes, styles, and functions that topple the moderate budget chart for all. Also, with newer and newer models of literally everything coming out by the day, it is getting exceedingly difficult to stick to the initially planned budget for all.
The average kitchen remodel cost breakdown
So what we’re gonna do right now is to provide you with an estimate for all kinds of costs that will be incurred in a basic kitchen remodeling undertaking.
And here are three kinds of kitchens that we’re gonna be discussing the estimates for!
- Basic Kitchen Remodel
- Mid-Range Kitchen Remodel
- Deluxe Kitchen Remodel
Remodeling a Basic Kitchen
An estimated price for remodeling a basic, smaller kitchen could cost you anywhere between $1000-$12,000. This will include all professional repairs and installations. The lower limit could even shoot up to $5000 depending on the current market price for the latest finishes. While the upper limit shouldn’t fluctuate all that much given everything else is regulated strictly under budget with no extravagant purchase in any category.
However, no matter what kind of space you’re working with, the best way to cut the estimate is to supervise everything yourself or to hire a professional who could ascertain the amount accurately down to the last penny.
The primary things to focus on in this department are items such as hardware changes, cabinet repairs, smaller appliances, and faucets.
The costs for these could be:
Hardware Updates. The costs for these could vary substantially. Fortunately enough for all, you could get numerous types and styles of hardware at cheaper ranges which can still transform your kitchen in the most beautiful way possible. However, it’s always a wise idea to go for quality in this regard, especially when it’s a long-term investment.
Cabinet Repairs. Even the most durable cabinets could get damaged over time due to prolonged exposure to fumes, damps, kids’ activities or even from getting slammed shut all the time. Cabinets require servicing and repairs ever so often for many reasons. The average cost of cabinet repair could usually come down to $364 which isn’t a lot and could be easily managed.
Appliance Replacement. Well, evidently there are a million options available when it comes to kitchen appliances such as a thousand different models of refrigerator, dishwasher, or stove. The average cost of replacement and installation of kitchen appliances could come to approximately $471 for that matter.
Faucet Installation. The cost of installing faucets or a kitchen sink, fortunately, won’t be that exorbitant coming down to approximately $250. If that dirty kitchen sink and faucet are sticking out like a sore thumb right now in your remodeled space, then the low costs should be more than an incentive for you to change them right away!
Mid-Range Kitchen Remodel
A mid-range kitchen renovation can cost you anywhere between $12,000 and $20,000 and will include all high-end finishes. Since you will have the privilege to spend a substantial amount, do consider hiring a professional to get updated on all of the latest trends and their respective costs so that you can have your preferred models.
A pro in this field will also help you to decrease the total cost while still having the best.
To start off with:
Counters. This can be one of the costliest affairs for bigger spaces. But if you do have the cash, go ahead and replace your old countertops with laminate ones. These are great for a mid-range renovation.
And if you want to take it up a notch, then you do have all the beautiful Granite, Corian, and Quartz at your disposal to choose from. The effect of these is unmatched and timeless in every way apart from the substance itself being exceptionally durable.
Paintwork. Repainting your kitchen will claim one of the major portions in the remodeling budget and would come down to a substantial sum for mid-range space and the kind of colors you go for. The interior decor arena is going bonkers and teeming with new kitchen wall colors by the day.
But the safest and most beautiful ones you could go for are light colors. These will play with the natural lights to visually expand the dimensions of the room, creating the illusion of a bigger space.
Lighting. And finally, the other significant cut in the overall budget will be the lights. Regarding this aspect, we would always advise for you to select energy-efficient lighting as these will go a long way in hacking those power bills off.
LEDs are really the way to go in this era that opens up an incredibly wide range of stunning lighting for all the spaces in the house at an equally amazing cost. Along with being cost-effective, these come with the necessary installation setup as well that dispenses the need to cut unsightly grooves into the walls.
You could easily install them anywhere you want- in the cabinets, under the counters, as footlights or grand chandeliers. These are environment-friendly and look marvelous in any space, lasting for a considerable period of time.
High-End or Deluxe Kitchen Remodel
Well, if you can’t spend $20,000 to remodel a kitchen, then you might as well spend beyond that to get yourself a spectacular deluxe kitchen! The list of new styles for models and finishes would be literally endless at that kind of investment.
You can choose to replace anything and everything from installing new cabinets and backsplash to brand new floorings and kitchen island.
If you lack a kitchen island, then find an expert who could get you the perfect one at a reasonable cost, as these are becoming one of the raging kitchen trends of recent times. A very functional purpose of the kitchen island is that along with looking absolutely stunning, it increases the seating arrangements and expands the storage facility in the kitchen.
Certain high-end updates for deluxe kitchen remodeling encompass:
- Installations of custom cabinets
- Installations of high-end kitchen appliances
- Installing additional lights for ceilings and other places
- Installing additional high-tech features such as Bluetooth devices and automatic lighting.
- Adding “recessed lighting” and upgradation of wirework as required.
Do remember that the above prices and estimates are based on average costs calculated across the country. It is advisable for you to consult with a kitchen remodeling expert who can get you the exact estimate for your remodeling budget.