What is the Average Cost for a Kitchen Remodel?
Are you thinking of remodeling your kitchen space? Then you must be wondering what the average cost would be. It makes sense to renovate and remodel your kitchen as it is one of the most important rooms in your home. If you are looking for precise estimates on what the average cost will be when restoring your kitchen, read on to find out.
Kitchen renovation and refurbishment is not a simple task, as some might assume. In fact, according to home-advisor, the national average cost for kitchen remodels has been estimated to be $23,166, which equals to $150/square foot.
But obviously, there is a range when it comes to a kitchen remodel project which stands at $12,545 to $34,423 depending on size and materials needed. Other factors that affect the average cost of kitchen restoration are the level of finishes, cost of required materials, the level of your kitchen’s deterioration, and purchase of kitchen appliances. Averagely, the materials needed are what account a large part of the budget.
If you plan to have a complete makeover for your kitchen, which includes knocking out walls, installing new cabinets, and finally splurging on a high-end Viking range, you should then expect to spend big bucks on your project.
Major Costs to Account for:
Home Remodeling Contractor
Regardless of your level of kitchen renovation, the following costs should be accounted for. You have to account for your home refurbishment contractor unless you are doing the job by yourself. It is advisable to use the services of a reputable home restoration contractor as they are experienced in such tasks. They will help you design your project, plan, and they will do all the dirty work, which includes supplying the materials necessary from start to finish.
A home refurbishment contractor will reduce the cost needed as they will take less time to complete the project. They also have the experience required to avoid a lot of waste from the materials bought.
Unless you have hired a home refurbishment contractor, you should take into consideration the cost of supplies needed for your project. The supplies will depend on the level of renovation needed. If it is just part of the kitchen, then it will cost less. If you want to do a major remodel for your kitchen, then it is advisable to avoid the hassle and hire a kitchen to remodel company to do the job for you.
Other supplies might include kitchen supplies, cabinetry, hardware, flooring tiles, custom vent, and other kitchen accessories needed.
The cost of Hiring
Unless you are a technician yourself, you should consider the cost of hiring experts in kitchen make-over to work on the project. You might need to hire an architect if you plan on adding space to your kitchen. If there will be demolition of walls involved, you have to hire a handyman to work on that.
Other experts to consider depending on the work involved could be plumbers, electricians, and carpentry installers. To avoid all these hassles and also to save money on your project, it is advisable to hire an experienced home refurbishment company like Palm Beach Premier Remodeling.
Tips to budget for your kitchen remodel
Research ROI and Resale Value
Before you begin your kitchen refurbishment project, be sure you have done the necessary research needed. One of the most important inquiries is the ROI and resale value of your home. After all, everyone wants to get a return on their investment at the end of the day. The ROI is an essential consideration because the cost of renovating your kitchen should reflect on the overall property value.
At Palm Beach Premier Remodeling, we suggest that homeowners spend between 5 to 15% of their overall property value on their kitchen renovation and refurbishment. This ensures you don’t negatively impact the selling value of your property. We are dedicated to ensuring you get the greatest potential for ROI on your renovation investment.
Other ways to research on ROI include consulting a real estate agent in your area. Real estate agents are informed on the selling value of properties in your areas. They also understand the best type of kitchen renovations that will fetch a great deal of ROI. One could also research on property magazines to find the best features and upgrades that make a home sale.
At Palm Beach Premier Remodeling, we ensure our customers get the best information on budgeting, funding, and the features that will guarantee a high ROI after their kitchen refurbishment is done.
Set a Budget
Before you begin to plan for a kitchen refurbishment project, the best advisable thing to do is to set a budget. When you start a project without having a set budget, there is a high likelihood that cost overruns will inevitably pop up, thereby delaying your project. Professional kitchen refurbishment experts like Palm Beach Premier Remodeling can help you set a budget for your kitchen remodel depending on the type of changes you need done.
Even before you hire a home refurbishment contractor, setting a budget of how much you’d like to spend is stress-relieving. Let’s assume your home is worth $400,000. A good and reliable budget to set for your kitchen renovation would be $40,000.
The next step after setting your preferred budget is to decide how you will fund the project. Funding the project could be from your cash flow, on credit, savings, or from a charity sweeps tick.
It is important to consider that if you hire a contractor, you will have to pay a commitment fee of about 30% upfront and the remainder after the project has been completed. That is why it is important to set aside the funds necessary and ensure they are accessible before beginning the project.
As a professional kitchen restoration company, we are dedicated to ensuring that all the products and materials we use for your kitchen renovation are the best for your investment. Hire us today to get an accurate and proper estimate for your kitchen renovation project.