Along with building an addition or a garage onto your home, a kitchen remodel is among most expensive remodeling projects you can undertake, costing on average $56,611. Why does a new kitchen cost so much?
For one, the kitchen is generally a large room that serves many functions. It’s not only a place where you cook meals, but it’s where you dine as a family, gather to do homework and pay bills, entertain friends and spend much of your time when at home. It’s the heart of the home.
Remodeling magazine’s annual “Cost vs. Value” report for 2008-2009 averages the cost of a major kitchen remodel at $56,611, based on a 200-square-foot plan, including 30 linear feet of semi-custom wood cabinets, a 3-by-5 foot island, laminate countertops, custom lighting, new flooring and energy efficient appliances. A “minor” remodel, based on the same footprint, averages $21,246, according to Remodeling. The cost difference lies in choosing to save money by refacing cabinets, eliminating custom lighting and only to replacing the cooktop and wall oven with energy efficient models, rather than all appliances.
The finishes you choose, including fixtures, window treatments and flooring – not to mention the addition or omission of gourmet-level appliances – can dramatically lower or elevate the overall price tag.
While the weakened economy hasn’t necessarily lowered the cost of a kitchen remodel, it has made hiring a good contractor easier; and if you’re willing to shop around, there are good deals to be had on reduced-priced appliances, flooring and lighting sales, as well as special financing deals.