How Much is a Kitchen Remodel Going to Cost Me in 2022-2023?
One of the first concerns that comes to mind when considering a kitchen redesign is “how much will this cost me?” Getting a ballpark estimate for the cost of a home remodel can be difficult and unreliable. We’re here today to answer some of the common hot questions. How much does a typical kitchen renovation cost? What is included in those prices, and how much value can you expect to add to your home by remodeling your kitchen?
How Much is an Average Kitchen Remodel?
Because no two kitchens are alike, remodeling costs vary depending on the size of the space, the quality of the materials used, the intended use, and the desired layout. Remodeling Magazine puts together a Cost vs. Value Report each year. These are the reported national numbers that will hopefully give you a better understanding of what to expect for your project. Here are some of the highlights from 2022’s report:
According to Remodeling Magazine, the national average cost for a minor kitchen remodel is $28,279. A homeowner’s typical range for kitchen renovations is around $13,468- $38,245. These projected ranges factor in aspects like labor, materials, lighting, and plumbing fixtures.
Expenses to Expect with my Kitchen Remodel.
The 2022 Cost vs. Value Report by Remodeling Magazine shows the average “minor kitchen remodel” is $28,279 and the average “major kitchen remodel” (mid-range) is $80,809. Another great resource to look at would be HomeAdvisor’s True Cost Guide for Kitchen Remodels. Here they break down the costs of specific parts of the project and the average amount you can expect to pay for each. The average $28,279 expense will primarily go to the cost of cabinets, appliances, and installation. Below is a breakdown of which parts of the remodel the funds can be expected to go towards:
What is the Return on Investment for a Kitchen Remodel?
These costs, in relation to HomeAdvisor’s average kitchen remodel, encompass complementing investment ranges despite varying definitions of minor and major kitchen remodels. With the cost vs. value report, homeowners can understand what their average expected return on investment will be for a kitchen remodel. For homeowners who remodel with the intention of increasing market price, the expected values of those renovations in U.S. markets are listed below:
|Minor Kitchen Remodel with Cabinet Refacing||Major Kitchen Remodel with New Cabinetry|
|Countertops & Cabinetry (Linear Footage)||30 (refaced cabinets with shaker-style wood panels, drawer fronts, laminate countertops)||30 new cabinets including 3×5 island (semi-wood cabinets, laminate countertops)|
|Flooring||Resilient flooring||Resilient flooring|
|Sink||Mid-priced sink and faucet||Standard double-tub stainless sink with a single-lever faucet|
|Appliances||Oven, stovetop, fridge (energy-efficient)||Oven, stovetop, fridge, vented hood range, built-in microwave, dishwasher, garbage disposal, custom lighting (energy-efficient)
|Newly Painted||Walls, trim, ceiling||Walls, trim, ceiling|
Similar to last year’s report, the minor kitchen remodel had a greater percentage of the cost recouped than the major kitchen remodel. Putting sizable amounts of money into a renovation does not always translate to a greater return for the homeowner. This technique is used to help ensure homeowners are getting the most out of their money. Additionally, minor remodels are a good route to go if you plan to sell since not everyone has the same taste in kitchen finishes. If you put in the money for a minor remodel, shoppers will be willing to put in the extra costs to make those final decisions on their own since it will be their kitchen after all, not yours.
Each kitchen makeover is distinct. It’s difficult to estimate the cost of a new kitchen without having an expert come to your house. However, if you’re thinking about remodeling your kitchen, maybe the above information has clarified what a kitchen renovation budget and cost should contain.