Remodeling a kitchen is a great way to add value to a home. On average a kitchen remodel will have around a 70 percent return on investment. While remodeling the kitchen can be a great way to improve the resale value of the home, it can also be easy to go over budget. The average kitchen remodel costs $21,637. With high end appliances and upscale finishes, the cost of a kitchen remodel can easily be tens of thousands of dollars more than the average cost. There are plenty of ways to save when it comes to remodeling a kitchen. Here are three things homeowners should consider.
Refinish Cabinets Instead Of Replacing
When it comes to kitchen remodels, the cabinetry often ends up taking up a large portion of the budget. Kitchen cabinets can cost as little as $60 to $200 per linear foot for stock cabinets to up to $500 to $1,200 per linear foot for custom cabinets. Even stock cabinets can be pricey, especially for large kitchens. One way to save money is to refinish the existing cabinets instead of replacing them with a service like Renew Your Cabinets. This is a great option for cabinets that are in good shape but are simply out of date. The average cost to refinish kitchen cabinets is $2,456.
Keep The Floor Plan The Same
For many people, the idea of moving the sink or stove around is very attractive. While changing up the floor plan may make the kitchen more functional, it's something that homeowners on a budget should consider very carefully. Re-routing plumbing and electrical systems can become expensive. Simply moving a sink more than three feet can cost between $500 and $1,000. In most cases, it's cheaper to keep the floor plan as is during a kitchen remodel.
Use Less Expensive Countertops
Countertops are an integral part of the kitchen. However, they can also be a budget buster. While granite is a popular choice, it may not be right for every kitchen. Granite countertops cost on average between $3,100 and $4,500, which may be out of budget for many remodels. Laminate, tile, and butcher block countertops are often more budget-friendly and can help keep a kitchen remodel stay on budget. Homeowners should look at other kitchens in their neighborhood in order to determine which types of countertops are most common. If other listings do not have granite, then it may be a good idea to use a different material for the countertops to avoid pricing your home above the value of the neighborhood.
Kitchen remodels can add a lot of value to a home. However, it's easy to go overboard and end up with a kitchen remodel that cannot be supported by the home's value. For those on a budget, refinishing cabinets, keeping the floor plan the same, and using less expensive countertops can save a lot of money on a kitchen remodel.