If you ask homeowners the biggest hurdle or problem in home remodeling, chances are that many, if not most of them, will answer with cost. Remodeling projects can be very expensive, especially when they are extensive. One remodel that always seems to have a high price tag is kitchens.
In terms of pure monetary investment, a kitchen is likely the most expensive room in the house to remodel. This fact often deters homeowners from launching a project, as the funds it takes to properly remodel a kitchen are often high. Many homeowners will find their projects easily climbing in the $15k-20k, with many remodels costing much more.
Why do kitchen remodels require so much capital to complete, and why is there such a range of total costs? Costs for kitchen remodels come in two forms: installation and finished products and furnishings.
It is typical for the company that provides finished products, like countertops, refrigerators, sinks, etc., to install them for the homeowner. Accompanied by this installation are fees, but they are only a small piece of the overall cost of remodeling.
The bulk of a kitchen remodel’s budget is poured into finished products. These products, especially those that are top quality, are very expensive. Countertops alone can cost several thousand dollars, and cabinetry is the costliest product, with even the lower-end stock costing over $10,000.
A complete kitchen remodel is a very costly project. However, partial remodels or remodeling the kitchen over time can make the entire process more cost-effective. While a kitchen remodel is very expensive, it also adds significant value to a home. Over time, the remodel can pay for itself, especially if it is improved over an extended period.