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Many homeowners view the kitchen as the heart of their homes. If your kitchen looks a little less stunning than you would like, a remodeling project can turn a boring or outdated cooking and entertaining space into the room of your dreams. One of the most important steps as you get started is determining how much you will need to budget for this major project.
Average Kitchen Remodeling Costs
The average cost of a kitchen remodel currently stands at $25,438 or an average of $150 per square foot. Kitchens are among the most expensive rooms to remodel because of the plumbing and electrical fixtures, cabinets, countertops, and all the little extras that turn this room into a magical space. However, while minor upgrades may cost as little as $10,000, an upscale remodel could top $50,000.
Benefits of Kitchen Remodeling
Although the most obvious benefit of remodeling your kitchen is an updated space for your cooking, baking and entertaining needs, you will reap a variety of other benefits as well. For example, the return on investment can be well over 100% in certain top housing markets, and the updated look can make your home more attractive to future buyers. In addition, updated appliances can save you money on your energy bills, and a completely new kitchen design can improve the functionality of your existing space.
Budgeting for a Kitchen Remodel
Because kitchen remodeling cost thousands of dollars, you will want to create a budget before beginning. Be sure to leave plenty of wiggle room to cover unexpected expenses that are sure to arise. Also, you should be aware of where the most money is going to be spent. Cabinets, appliances and countertops are the most expensive pieces and should be planned for accordingly.
Tips for Decreasing Kitchen Remodeling Costs
Once you work through your budget, you may find that you simply cannot cover the amount needed for your dream kitchen. Fortunately, there are ways to cut costs without reducing the impact of the results. For example, consider refacing your cabinets rather than replacing them altogether, and keep the same general layout you already have. Do as much of the work yourself as possible because labor could eat up 20% or more of your budget.
It is not surprising that kitchen remodels are one of the most popular home updating projects today. A kitchen remodel not only can help you feel more at ease in one of the most-used spaces of your home but also can increase the future selling price of your home. By following a budget and looking for smart ways to decrease some of the top costs of the project, you can enjoy a dream kitchen without any lingering guilt about how much you spent.
Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on Twitter and Facebook: @RachelleWilber.
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