Return on Investment
The cost of Kitchen remodeling in Denver can be extremely varied. However, on average, you will get a return of 66 percent on your investment. This is because the kitchen is one of the first and most important things potential homebuyers look at when touring homes to buy.
The cost of a kitchen remodel varies widely depending on the region. It is imperative not to go overboard, however, as you don’t want to invest so much that you price the home out of your local market. For example, if you’re in a neighborhood where the average home value is $200,000 and you put in a $50,000 kitchen, you’re out-pricing your house. It is suggested that you keep in the range of spending 6 to 10 percent of your home’s value.
Minor Kitchen Remodel, Mid-Range
The national average price of a mid-range minor kitchen remodel is approximately $21,000, averaging a return of 72%. A minor kitchen remodel can be considered as an approximately 200-square-foot kitchen with 30 linear feet of cabinetry and counter space. The remodel would include refacing the kitchen cabinets with new raised-panel wood doors, drawers and hardware, while the boxes stay. Laminate countertops and vinyl flooring would be removed and replaced with the same material, but in updated colors and patterns. Old appliances would be replaced with new energy-efficient appliances such as refrigerator, dishwasher, oven and cooktop. A new mid-priced sink and faucet would be installed along with new paint and any wood trim that needs repaired.
Major Kitchen Remodel, Mid-Range
A major kitchen remodel at a mid-range price will run an average of $58,000, averaging a return of 68%. This remodel of a 200-square-foot kitchen may include a 3’x5′ island, 30 linear feet of semi-custom wood cabinets, new flooring, laminate countertops, a double bowl stainless steel sink, new energy-efficient appliances, custom lighting and new paint for the walls, trim and ceiling.
Major Kitchen Remodel, Upscale
A major kitchen remodel in an upscale home can run over $110,000, averaging a return of 59%. It’s an easy bill to run up with complete set of custom cabinets and interior accessories, natural stone countertops, and an imported ceramic or glass tile backsplash. Appliances would include a built-in refrigerator, cooktop, 36-inch commercial-grade range and vent hood, built-in warming drawer, trash compactor and built-in microwave/convection oven. A high-end undermount sink, designer faucet, possibly a built-in water filtration system and general, task and under-cabinet lighting would typically also be included.
A major kitchen remodel may not be a good decision if the space only requires a facelift. Don’t completely gut your kitchen if it’s in good working shape. In many cases, less-drastic updates like refinishing surfaces, upgrading appliances, and installing new light fixtures will cut it.
But making the mistake of opting for a facelift when the space does, in fact, need a full-scale remodel will cost you. You need to ask yourself questions like, ‘Are the cabinets structurally sound enough that if I spend a significant amount of money refacing them, are they going to just fall apart anyway?’
A knowledgeable and reliable kitchen contractor can help you make these decisions to get the most out of your kitchen remodel. Starwood Renovation can help you decide what can be kept and what should be replaced in your renovation. We take into consideration the value of your home, the area of your home and or course your budget.
Modern Kitchen Remodel with Subway Tile & Open Shelving
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