Kitchen Remodeling: Is It Really Worth The Cost?
When deciding on whether to remodel your kitchen you should look at the Return on Investment (ROI) potential. This will help you determine how extensive of a remodel you should do. The Average cost of a minor remodel is $20,800 with a ROI of 74.7%. The average cost of a major remodel is $61,400 with a ROI of 62.1%. This is according to the 2016 data compiled by Remodeling Magazine. Remodeling can definitely be expensive, but there are a lot of benefits that come with it. However, here are just a few things to look into to find out if remodeling is really worth the cost.
Given the higher ROI for a minor remodel, consider doing this if you intend to sell your home in the near future. Some things you will want to address in this kind of project are:
- Upgraded appliances
- Better countertop material
- Upgraded plumbing fixtures
- Cabinet refacing or refinishing
- Cabinet hardware upgrades
- Replacement of light fixtures
- Floor refinishing, regrouting, or resealing
- Backsplash regrouting or replacement
Leaving the cabinets in place will save you a good deal of money. Any floor and wall surfaces that are in good shape can be refinished to spruce them up. Appliances, fixtures, and countertops are a good investment. Also, a fresh coat of paint is always worth the money.
A major kitchen remodel is worth it if you have the money to spare and you are looking for the ideal kitchen for you and your family to enjoy. This would involve pretty much ripping everything out and starting anew. You still want to think about the ROI, so also consider using timeless materials that will remain of value over the long term if you do decide to sell. Here is what you will want to do:
- Upgrade the plumbing and electrical systems
- New cabinets
- New countertops, such as granite or quartz
- New appliances and plumbing fixture, such as stainless steel
- New backsplash
- New flooring
- All new energy efficient lighting
- Possible relocation of HVAC
Make sure to add any features that you might personally find useful that still have a good value, such as a built-in convection/microwave, and an industrial style faucet. It is a good idea to have a plumber, like those with places like A Bailey Plumbing, an electrician, and a builder or engineer check to your mechanical and electrical systems and the structure of your floor and walls. There can be hidden costs in these areas when doing a major remodel.
As with any remodeling project, plan your budget well in advance and always consult with professionals, such as a kitchen designer, an appliance specialist, and a general contractor who works with licensed plumbers and electricians. That way you can be sure to get the quality that you want for the right price. Remodeling can definitely be expensive, but it is well worth the cost.