How Much Will It Cost to Remodel My Kitchen?
Cost to remodel a kitchen
If you’re like most people, your kitchen is the heart and soul of your home. But when it no longer functions effectively—or you’re just tired of looking at outdated cabinets and countertops—what do you do with this workhorse of a room? You remodel it!
The first question on the mind of anyone considering this path is probably “How much does a kitchen remodel cost?” And the answer is—it depends. On average, the cost of a basic kitchen remodel can range from $14,000 to $40,000, depending on a few different factors. For upscale remodels, the cost could skyrocket, surpassing $100,000. Of course, the more you want to update, the higher your costs will be.
Factors that affect kitchen remodel costs
The cost to renovate a kitchen depends on several factors, including the type of remodel, how extensive the remodel is, which materials are used and how much work you outsource.
Type of kitchen renovation
Kitchen remodels can be broken down into three types, each with its own cost structure:
Minor remodel—This type of remodel keeps the kitchen’s existing layout and usually involves refinishing cabinets, purchasing new appliances, updating countertops, applying new paint or installing new flooring. A minor remodel could cost between $14,000 and $24,000.
Major remodel—A major remodel also typically keeps the same layout but aims to add more counter space, often through the addition of an island. Other updates in this remodel category could include semi-custom cabinetry, new countertops, upgraded sinks and faucets, new appliances, custom lighting, upgraded floors, new paint and a new or upgraded backsplash. A major remodel could cost between $25,000 and $70,000.
Upscale remodel—This type of remodel pulls out all the stops. It usually involves changing the layout of the space and using upgraded materials and finishes. It could include brand-new custom cabinets, high-end countertops, a glass or ceramic backsplash, high-tech appliances, a water filtration system, custom lighting, upscale flooring and more. An upscale remodel could cost between $75,000 and $136,000.
Size of remodel
The size of your kitchen plays an important role in the cost of your remodel. Smaller kitchens—even with several upgrades—will likely cost less to remodel, while larger kitchens have more opportunities for enhancements, which drive up the overall cost.
Kitchen remodel materials
Regardless of whether you’re doing a minor, major or upscale kitchen renovation, the costs will vary widely based on the specific materials you use. Here are some examples:
Cabinets (per linear foot)
- Stock cabinets (cheapest)—$60 to $200
- Semi-custom cabinets (mid-range)—$100 to $650
- Custom cabinets (most expensive)—$500 to $1,200
Countertops (per square foot)
- Marble—$75 to $250
- Granite—$45 to $200
- Quartz—$55 to $155
- Travertine—$50 to $100
- Concrete—$75 to $125
Appliances
- Stove and oven—$515 to $7,625
- Dishwasher—$400 to $2,150
- Refrigerator—$515 to $11,100
- Microwave—$120 to $2,430
DIY vs. contractor
The benefits of doing a remodel yourself include working on your own timeline, building new skills and putting in the sweat equity to reduce the cost. If you can complete projects yourself (and do them correctly the first time!), the overall cost will likely be less. However, if a project goes awry, costs can quickly spiral out of control. Before you know it, you could be paying the same—or more— as it would have cost using a contractor.
With a contractor, you receive an estimated cost upfront, which helps you plan for the expenses of your kitchen remodel. However, contractors aren’t error-proof, and costly problems can still arise. But a contractor can usually get the job done faster and stay mindful of your budget, so you may decide it’s worth it to hire one.
Either way, it pays to consider the pros and cons of either doing the work yourself or hiring a contractor based on time, cost, effort and ability.
Affording your kitchen remodel
A kitchen renovation is a major expense for most homeowners, and many people question how they are going to pay for it. Typically, there are two options: save up for it or get a home improvement loan or home equity line of credit.
Save for the remodel
Many people prefer to save up for the cost of a kitchen remodel. This is a great option, but it does have a few drawbacks. It can take a long time to save up the thousands of dollars needed for a kitchen renovation, and most homeowners don’t want to put it off for that long.
Additionally, the amount you’ve saved may force you to settle for lower-cost options instead of getting to choose what you really want.
Finance the remodel
Many people choose to finance their kitchen remodel with a home equity line of credit (HELOC) or a home equity loan to potentially quicken the renovation process. Interest rates on home equity loans and lines of credit are typically lower than a standard credit card, which helps you save money in the long run. They may also offer potential tax advantages on interest paid.*
Covering the cost of a kitchen remodel
There are lots of decisions that go into renovating a kitchen, and how you're going to pay for it should be one of the first considerations. Whether you’re looking for a high-yield savings account or want to learn more about home improvement loans, Mountain America Credit Union is here to help.
Planning a kitchen remodel?
For additional guidance on how to save and plan for your kitchen remodel, contact Mountain America today.
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