If you are considering putting your home on the market and want to do some major updates, a kitchen remodel is the place to start. HomeAdvisor estimates the national average of a kitchen remodel at $21,751 with a range of $12,751 to $33,156 and a high of $50,000. Remodeling Magazine estimates a major kitchen remodel at a significantly higher price tag of $62,000. So, is it all worth it?
If you are remodeling a kitchen in a custom or semi-custom home in the North Scottsdale market, those figures may be low and you should be prepared to sink some additional dollars into the project. A seller in a luxury market should expect to plunk down six-figures for a major kitchen remodel. A word of caution, if you hire a designer, select granite countertops and backsplash, travertine flooring, a combination of Sub-Zero, Viking, Wolf, Miele and Fisher Paykel appliances, custom wood cabinetry and custom paint and don’t go in with a budget, you’ll likely tip the scales on estimates and projected costs.
The good news about a well-done kitchen remodel is the large payoff in a home’s resale value. It’s statistically proven that a remodeled kitchen is one of the best investments a buyer or seller can make. In addition, women buyers will typically have an updated kitchen as part of their amenities and home features they are looking for in their next home.
If those dollar figures look high, don’t panic! There are ways to reduce the cost and the first one is to get more than one quote. At Homeadvisor.com, you can get up to four estimates by answering a few questions. The questions help direct you in what to expect with regard to an initial layout of funds for your specific project. Some of the contractors give an immediate online quote, while others will want to contact you directly.
If you are looking for places to cut costs you will first want to know where the allocation of dollars go in a typical kitchen remodel. A standard project allocates 30% for cabinets, 10% for countertops, 7% for flooring, 14% for appliances and 17-20% for labor/installation and 4% for design. For a complete breakdown of costs check out the National Kitchen and Bath Association.
If you can’t pull off a total remodel of the most lived in space of the home, there are ways around it. Instead of buying new cabinetry, reface or restain the existing cabinets and add some new hardware. Instead of installing travertine, select a porcelain look-a-like and look for a less expensive counter top choice. A few pendant lights and under-cabinet lighting goes a long way in presentation. There are design centers and online support for homeowners that want to do their own design work to alleviate the need for dollars spent on a designer.
Whether it’s a major remodel or minor update, you don’t want to be a miser when it comes to smart appliances and gadgets. For around $600 you can add a tablet stand, a smart scale, a smart frying pan or a hands-free virtual assistant blue tooth speaker to counter tops for a high-tech appearance that will attract a buyer’s attention.
If you were to only add one smart appliance, your best choice would be a fridge that functions as the home’s command center. In addition to communicating with the entire family, it has an internal camera that can be accessed by your smart phone to see what you need while you are out shopping. An app on your phone lets you control temperatures from anywhere in the world and some smart refrigerators are even connected to the oven.
The hub of the home is the kitchen and this is the best place to allocate funds for a return on your investment.
