by Liviu G. owner of Kre-Art kitchens & bathrooms.
Designing your new kitchen will add substantial value to your home. One of the most important elements to determine when beginning your project is your budget. Communicating this to your designer allows them to quickly determine the appropriate products for your project. Cabinetry from Omega or Dynasty will fit into practically any budget. This worksheet will help you to arrive at a project estimate.
When planning your project, keep in mind that the cost of installing a new kitchen can be recovered when the home is sold – it’s an investment in your home’s equity. After 10 years, a new car may be worth very little, but a kitchen is often worth much more than the original investment.
According to the latest studies and recommendations, the national average for a kitchen remodel was 10% of the current house value.
Example : Current Home Value – $375,000
- To determine a total kitchen-remodeling budget choose a 10% percentage of your home value.
- 10% of house value at $37,500
- Breakdown of suggested remodeling investment.
- 40% Cabinets $15000
- 9% Counter tops $3375
- 10% Appliances $3750
- 10% Lighting/Electrical $3750
- 3% Wall Covering / Painting $1125
- 8% Floor Covering $3000
- 20% Labor (including plumbing) $7500
Of course this numbers are just a suggestion of how much you are expected to spent on your renovation. The reality is it also depends on the materials, appliances, type of counters and floor. Also age of the house and taking down a wall or adding a pony panel, etc.