Establishing a renovation budget will define the scope of the kitchen renovation. The average cost of renovating a kitchen in California is approximately $17,000 to $25,000 for minor remodeling jobs and between $60,000 to over $100,000 for extensive renovations. Most homeowners see a 93 percent return on their investment, with regard to increased property values. The whole renovation should not cost less than 5 percent and no more than 15 percent of the total value of the home. The price of a kitchen remodel is generally based on these features: room layout, the size of the space, amount of cabinets and whether they are stock, custom, or semi-custom, professional grade or standard appliances, type of countertops materials, additional features and the cost of the construction materials.
Remodeling a kitchen can be extremely costly or very reasonable depending on what the customer can afford and the extent of the remodeling they want done. The key to any kitchen remodeling is to make a list of the renovations necessary to upgrade the room and estimate the amount of money needed to accomplish that goal. Minor kitchen remodels can be done, if the electrical wiring and the plumbing are up to code and do not need to be replaced and the floor plan for the kitchen does not require alterations. Often in this type of scenario, all that may be required is to update cabinet finishes and replace countertops. The price can increase dramatically depending on the choice of countertop materials and whether or not the cabinets are completely replaced. In the case of a high-end remodel of a kitchen, the homeowner may spend more than 15 percent of the home’s value. A high-end remodel may include stone countertops, butler’s pantry, professional grade appliances, custom cabinetry and a catering style kitchen for large gatherings. Even in the case of a high-end renovation, the homeowner should not spend more than 20 percent of the homes total value or they will not see a return on their investment. It is important to plan on spending 80 percent of the budgeted amount and leave 20 percent to cover any additional costs. Most renovations usually go over the originally projected amount, so this will keep the client within their means. Work closely with the contractor to make sure they are using the specified materials and adhering to the budget guidelines. Also, look into possible material replacements. Choosing wood countertops over stone can have noticeable cost savings.
An updated kitchen will boost the value of a home and it will provide years of enjoyment. Remember to take the time to research what features are needed to upgrade the kitchen. Locate a contractor, who has a good reputation and can show samples of their work. Determine a manageable budget to meet those renovation goals. A home is a sizable asset, so be knowledgeable about the economic issues, with regard to renovation costs and eventual investment returns. A kitchen is the heart of most homes, a place where the family gathers; an upgraded kitchen makes life better.
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