Do you dream of cooking your favorite meal in a state-of-the-art kitchen? If so, you can make that dream a reality. But first find out what a kitchen remodel costs.
With the kitchen being the most popular room, remodeling it can transform the look and feel of your home. It could also increase the value of your home.
But before you start tearing off cabinets and picking a new color scheme, you have to know how much it’s going to cost.
According to HomeAdvisor’s Chief Economist Brad Hunter, the total cost of kitchen renovations varies widely. “The average cost nationally to remodel a kitchen is $21,668, with most homeowners spending between $12,589 to $33,067.”
He adds, “While replacing new appliances, adding granite countertops, and building custom cabinets can lead to a remodel upwards of $30,000, a luxury custom home remodel can run $100,000 to $150,000.”
Kitchen remodel cost breakdown
The total cost of a kitchen remodel varies widely because of the wide range of components that can be included.
“The most expensive kitchen remodel elements are the aesthetic ones,” says Tonya Bruin, CEO of To Do Done Handyman Services. “These elements include upgrading to stone countertops and new stainless steel appliances.”
The most expensive components of a kitchen remodel
The following four kitchen features tend to cost the most money during a remodel. Below are the average costs, according to HomeAdvisor.
Let’s add some detail to those rough estimates.
The average cost for cabinet installation is $4,788. It can cost as little as $450 or as high as $15,000. However, most homeowners spend between $1,956 and $7,640. Installing new, custom cabinets is more expensive than refinishing or re-facing older cabinets.
As with cabinet installation, the cost of countertops depends on the materials used. Laminate is the least expensive. According to HomeAdvisor, there are the costs of commonly used materials for an average kitchen with 30 feet of countertop:
Ceramic Tile: $1,850
Recycled Glass: $2,040
Solid Surface: $3,690
Granite Slab: $4,440
Carrera Marble: $4,620
The cost of new flooring typically ranges from $1,514-$4,285. However, it can be as low as $200 or as high as $10,000. It depends widely on the square footage and material you choose.
Ceramic or porcelain tile: $1,588
Vinyl or linoleum: $357
Natural stone tile: $1,830
The average cost of appliance installation is $114-$271. There are many factors that determine the cost: where you bought the appliance, where you want to install it, and how you install it. Below are average labor costs.
Refrigerator with an ice maker: $116 to $200; an extra $65 to $150 to install water and plumbing hookup if you don’t already have it
Microwave: $115 to $200 to be mounted over the stove
New dishwasher: $171 to $517; most homeowners spend $346
Existing dishwasher: $150 to $463; most homeowners spend $313
Electric stove: $98 to $182; additional $50-$100 per hour if electrical changes are needed
Gas stove: $100 to $125; can go up to $200 if new supply lines need to be installed
Stove hood or vent: $166 to $284
Possible Cost-Cutting Measures
If the kitchen features add up to more than your budget, there are ways to cut costs, says Jason Larson, president and founder of Lars Remodel & Design. “Create a list of your pain points, such as a growing family, but not enough space. Also list your wishes, like marble countertops,” he says. “Next, narrow the list down to create a workable budget.”
Avoid moving appliances that require water, like dishwashers and faucets. Moving plumbing means installing additional pipes. That costs about $1,100, and can be problematic.”
Brad Hunter of HomeAdvisor suggests refinishing or upgrading expensive items like appliances and cabinets, rather than installing new ones. And don’t change the layout of the kitchen.
Hunter says, “Avoid moving appliances that require water, like dishwashers and faucets. Moving plumbing means installing additional pipes. That costs about $1,100, and can be problematic.”
Cushion Your Budget
“You never know when a pipe could break, a contractor could discover mold or other problems could arise,” says Hunter. He suggests adding 20% of the estimated project costs, or $3,000 to $5,000, to your budget. This should cover any situations that arise.
FAQ on Kitchen Remodel
How much money should you spend on a kitchen remodel?
When you’re calculating the budget for your home remodel, the general rule of thumb is that you should spend 10 percent of the value of your home. Spending this much on your remodeling project will allow you to make important upgrades to your kitchen and will also provide you with an impressive return on investment.
How much does it cost to replace kitchen cabinets?
A professional cabinet refacing for a typical 10-foot-by-12-foot kitchen starts at around $1,000 to $3,000 for laminate. Expect to pay $2,500 to $6,000 for real wood veneer. Costs can rise to $7,000 to $9,000 or more for a large project with high-quality wood veneer.
Does kitchen remodel add value to home?
Realtors also believe that kitchen renovations are the most likely to increase your home’s value—but that doesn’t guarantee that you’ll make back every penny you spend. Remodelers project that a kitchen upgrade will cost an average of $35,000, while only adding an average value increase of $20,000 to your home.
What is the most expensive part of a kitchen remodel?
The most expensive element of any kitchen remodel is usually the cabinets, which on average cost upwards of $15,000. In second place are new appliances, costing on average around $8,200. The countertops are the next greatest expense, generally costing just under $6,000.
Can you put renovation costs into your mortgage?
You can borrow more than the home is worth, as long as the repairs will increase its appraised value. The most you can borrow is 110% of what an appraiser estimates it will be worth after renovations, or the cost of the home plus the estimated renovation cost, whichever is less, minus your down payment.
How to Finance your Kitchen Remodel
Considering the high cost of a kitchen remodel, you might not have sufficient savings to cover the costs. If that’s the case, think about using a personal loan to help you fund this expensive project.
Lenders such as Avant, LightStream, and Prosper offer personal loans you can use to pay for your kitchen remodel. The application process is quick, and you could get approval within 24 hours. Qualifying for a personal loan to pay for your kitchen remodel is based on your credit.
If you want to find out if you qualify for a personal loan without hurting your credit, use SuperMoney’s loan offer engine. All you have to do is answer a few simple questions to receive personalized quotes from various lenders.
You can look at even more options on SuperMoney’s Personal Loans Review Page.
Having your kitchen remodeled is an exciting project for you and your family. But it might not come with an exciting price tag. Consider using a personal loan to ease the pain of sticker shock. You’ll be one step closer to cooking your favorite meal in the kitchen of your dreams.