Kitchen remodeling prices has to be one of the most neblulous areas when considering making improvement. There are so many variables…. how do you know how much it is going to cost? Oakbridge Construction has done their best to answer that question.
Bullet Points (my commentary is in red):
- You should never invest more than 15% of the current value of your home on a kitchen project
- Home values are determined by recent home sales in your area. This is NOT your current tax appraisal. This is called a comparative market analysis, and most local real estate agents or appraisers do them.
- Materials you select will have the biggest impact on the total remodel price.
- The area you live in will play a major roll in how much construction costs. This is why most cost calculators have no real bearing.
Excerpts from the article
“You don’t want to remodel all of your equity away. Some projects add value to the home and others just eat away your equity with no return at all.
Fortunately a kitchen remodel is something that recaptures nearly 100% return if you stay within the maximum 15% of the home’s current market value.”
“Some things to consider would be:
What condition is the house in and what era does the current style suggest and what would you like it to be?
What is the current market value of your house before remodeling and what is the average market value of comparable sized homes in the neighborhood?”
“The entire kitchen project (including cabinets, appliances, Countertops, flooring, lighting, trim molding, & wall coverings) should cost no less than 5% and no more than 15% of the current value of your home … with approximately 50% of the total cost allocated for kitchen cabinets (including accessories and trim).”