How Much Does It Really Cost to Remodel Your Kitchen?

Big or small, the kitchen brings people together like no other room can. It's where the family flocks at the end of the day, the kids do their homework on weekends, and the party guests congregate with cocktails. As much use as the kitchen gets, it's no surprise that this room can benefit from upgrades more than most.

Beyond the beauty of new countertops and upgraded appliances, remodeling your kitchen can greatly increase the value of your home. Even with a hefty price tag — the average cost of a kitchen remodel is $20,556 — renovating this oh-so important space can attract potential buyers and make you money in the long run (so long as you know what you’re doing).

From the ideal budget to estimated costs and money-saving tips, here's what you need to know if you're considering remodeling your kitchen.

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The Budget Breakdown

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There are tons of homeowners out there with horror stories when it comes to renovating a room in their house. But there's a way to set yourself up for success when it comes to making money from all your awesome improvements.

If you're considering a remodel, do this math to determine your budget before anything else: Calculate 5 percent of the current value of your home — that's your minimum budget. Then calculate 15 percent of the current value of your home — that's your max. If you respect those two numbers, you’re more likely to gain back your money when you decide to sell, no matter what type of upgrades you do.

With your ideal budget in mind, now you can start to get an idea of how much you should be spending on the smaller projects that go into a kitchen remodel. According to the National Kitchen & Bath Association, here's how the top costs typically break down:

• Cabinets: 30% of budget
• Appliances: 14% of budget
• Countertops: 10% of budget
• Electrical Work: 5% of budget
• Plumbing: 4-5% of budget
• Flooring: 2-5% of budget (depending on material)

You should start by comparing quotes from local kitchen remodelers to get an idea of your labor costs, because these can take up to 20 percent to 35 percent of a project budget. It's also wise to set aside 20 percent of your budget for unexpected costs.

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What to Expect

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Small Kitchen Remodel: $5,000 to $15,000

While a teeny kitchen has its drawbacks, smaller spaces are much more manageable when it comes to remodeling; you can save big by opting to do projects yourself.

Here are projects typically included in a small kitchen remodel:

• Installing storage gadgets like lazy susans, roll-out trays, double pull-out shelves and other tiered racks
• Adding countertop extensions
• Downgrading appliances to maximize space
• Painting your walls and ceilings
• Resurfacing cabinetry yourself by sanding and painting

If you want to go big, consult a contractor to see if tearing down a wall or expanding your kitchen space is possible. It may give you space to install more cabinets or add an island.

Find a Local Pro for a Small Kitchen Remodel

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Mid-Range Kitchen Remodel: $10,000 to $15,000

When tackling a remodel in this budget, remember you don't have to replace everything at once. For example, you can reface or refinish your cabinets instead of replacing them if you’d like to be sure you have money for another project.

Here are projects typically included in a mid-range kitchen remodel:

• Upgrading your kitchen sink and faucet
• Installing or replacing your countertops with inexpensive materials (laminate, vinyl, tile)
• Adding a tile backsplash
• Refacing or refinishing your cabinets
• Installing stock cabinets
• Upgrading your appliances
• Painting your walls and ceilings
• Installing energy-efficient lighting in the ceiling and under the cabinet

Find a Local Pro for a Mid-Range Kitchen Remodel

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Large Kitchen Remodel: $15,000 to $30,000

Leave more to the pros when you're working within a budget of this size. You can also look at more high-grade materials like stone (granite, Corian, Formica).

Here are projects typically included in a large-range kitchen remodel:

• Replacing your countertops with high-quality materials (stone, wood, metal)
• Installing custom cabinets
• Building a kitchen island
• Installing high-end kitchen appliances
• Adding recessed lighting and rewiring as necessary
• Replacing your floor

Find a Local Pro for a Large Kitchen Remodel

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Major Kitchen Remodel: $30,000+

If you're planning to spend over $30,000, consider hiring a professional designer to help you reimagine your new kitchen.

Here are projects you should include a major kitchen remodel:

• Installing high-end appliances with the EnergyStar rating
• Adding granite, quartz or marble countertops
• Installing a new sink and faucet
• Having custom cabinets built
• Opting for additional overhead lighting
• Adding hardwood flooring

Find a local kitchen remodeler to get a custom estimate.

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Photo credit: Designcycle via Pixabay