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Feb 14

Estimating the Cost of Remodeling Your Kitchen

Kitchen-RemodelingThe first question that is always asked is: How much is it going to cost? What you end up paying on the three things that you can choose and one that you can not.
First, the material you choose for your kitchen plan will have the biggest impact on price; it is also where you have many choices.

Then there is the cost of installation of the material you have chosen. For this, you can take the lowest bid. Finally, how much you pay will vary by where you live. You can not do much about it!

Construction costs vary across the country so that the geographical location you are in will pretty much dictate the price. When doing a renovation project to find out how much to spend can be a big question.

Some things to consider are:
How is the condition of the home and whether the style is currently showing and what you want to be?

What is the current market value of your home before the renovation and what the average market value of a comparable sized homes in the neighborhood? How long do you really plan to stay at home? Are you planning to stay there for 2-4 years? 10 years? Forever?

Whatever amount you feel comfortable spending or your budget will allow, you should keep in mind that your home is an investment, probably your biggest investment and you want to have the highest return on your investment, especially if you turn around time sooner rather than later.

You do not want to remodel all the equity you go. Some projects add value to the home and others just gnaw your capital with no back at all. Fortunately remodel the kitchen is something that recaptures almost 100% back if you live in a maximum of 15% of the market value of the house at this time.
It is always a good thing to check other houses in your neighborhood and see what the competition with comparable homes so you can stay in the game and even had the edge when it comes time to sell. You want to make sure you compare the best to others in the same price range, your net profit is the end game.

But on the other hand, if this is the home you plan to be for many years to come, you will receive the pleasure of having your dream kitchen is perfect, experience joy and appreciation every day, should not be underestimated either.

Basically, the rule states:
The entire project kitchens (including cabinets, appliances, countertops, flooring, lighting, trim molding, and wall coverings) should cost no less than 5% and not more than 15% of the current value of your home with about 50% of the total cost of the allocated for kitchen cabinets (including accessories and trim)