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A recent report finds that the minor and mid-range kitchen remodel's relatively low cost can bring high returns at selling time, making this a smart home improvement.

Kitchen Remodel Cost: A Good Investment

The kitchen remodel has long been considered the home improvement with the best return on investment. And although the current market for remodeling is pretty soft, they still make good sense.

According to Remodeling magazine's 2009-2010 Cost Vs. Value report, smaller-scale, lower-cost renovations are the best investments. So while upscale kitchen remodels fared among the worst improvements (recouping only 63.2 percent of costs), the mid-range kitchen remodel brings 72.1 percent returns, and minor kitchen remodels recouped 78.3 percent, putting them among the top ten home improvements.

What Buyers Want

While buyers are using unimproved homes' prices as bargaining chips, reports show that homes with remodeled kitchens sell faster. It isn't top-of-the-line appliances that buyers want anymore. Across the board, they want good stoves with microwave hoods, dishwashers, and granite countertops.

What You Can Expect to Pay

The average kitchen remodel cost is $26,888, according to the National Kitchen & Bath Association. However, prices range from $15,000 all the way up to $45,000 or higher. Roughly half the cost is generated from kitchen cabinets: stock cabinets range from $50-$200/linear foot. The rest of the cost is generally comprised of the sink, specialty cabinet features, appliances, and countertops.

Additional costs come from several places: relocating or fixing plumbing, electrical work, and unplanned structural issues, particularly in older homes. On average, you can expect to pay about 12 percent more than what you've budgeted.

Remodeling Your Kitchen on a Budget

The following low-cost improvements can make a big impact:

  • Clean out cabinets. Make sure they're clean and clutter-free. It costs nothing.
  • Use granite tile. Slab can run up to $5,000, while 12-inch tiles run about $300.
  • Add or replace a tile backsplash. You can find tile for $1-$2 apiece, and the impact is huge.
  • Reface kitchen cabinets. Replace or refinish doors and cabinet boxes and replace the hardware. It looks like new cabinetry, at a fraction of the cost.

As trends toward smaller homes and more modest remodels continue, small but smart upgrades to your kitchen remain good investments.

Looking for a Kitchen Remodeling Contractor? Try our Free, no obligation service. Let local Kitchen Remodelers contact you and give a free quote on your Kitchen Remodeling.
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