According to the real estate market, kitchen remodeling is one of the best ways to increase the overall value of a home. In fact, many property owners tend to advertise the kitchen, bedroom, and living room more than the others. This is because these spaces have the greatest impact on home buyers. In other words, a home buyer will be more likely to make a decision based on the living room, bedroom, and kitchen.
The million dollar question, however, is what the cost is remodel your kitchen? Well the truth is that the cost varies depending on many factors such as:
- material costs
- Personal taste and so on.
Even so, the national median cost has been estimated at around $ 18,000, with many homeowners spending between $ 10,000 and $ 25,000, which a can make possible Home improvement loans. The only problem with these numbers is that they are only national estimates. To estimate exactly how much it will cost to renovate your kitchen, read on.
The basics of the kitchen budget
Of course, before you decide on a budget, there are a few things that you need to consider that will affect your overall budget. For example, the style of remodeling will affect your budget. Hence, you must first decide what you want to remodel. Sometimes you may not have the time or resources to remodel the entire kitchen. Because of this, you can choose a few areas to update.
It’s important to remember that smaller details can sometimes have a big impact. For example, improving kitchen lighting and cabinets can have as big an impact as renovating the entire kitchen.
Likewise, you want to know where every dollar is going. This simply means appreciating places where your budget is being used. Although kitchen renovation projects vary, there are often common patterns or trends that many people follow. This pattern has enabled the National Kitchen and Bath Association to break down the cost of kitchen remodeling.
The percentage cost of installing and replacing the kitchen is as follows:
- 29% furniture and hardware
- 14% equipment and ventilation
- 10% countertops
- 7% flooring
- 5% lighting
- 5% walls and ceiling
- 4% doors and windows
- 4% faucets and plumbing
Other additional costs are:
- 17% work
- 4% design fees
- 1% others
NOTE: – The above figures are percentage averages only. Just because many homeowners spent 29% on furniture and hardware doesn’t mean you have to. If you think your floors are in bad shape then you should spend more money there. In other words, spend your money where renovation or remodeling is needed most.
Cost factors for kitchen remodeling
There are certainly many factors that affect the total cost of a kitchen remodeling project. These factors include:
- material costs
- The cost of hiring a professional
- ROI (Return of Investment)
- Personal taste
- Reshaping trends
With the above information, you can know how much it will cost to remodel your kitchen. It is always a good idea to start with the most urgent or important ones. Also, don’t forget that small changes have big effects.