The decision to remodel a kitchen is a big one. Aside from the financial aspect, it is a disruption in a homeowners daily life, and depending on the extent of the remodel, can last weeks or even months. That’s why, when discussing a kitchen remodel, it is important that homeowners are aware of all of the elements involved. But not just what they’re putting into their remodel – what they’re gaining from it. Kitchen remodels have the potential to drastically increase a home’s resale value, and give the homeowner a great return on their investment.
It’s also important to keep in mind the cost of the house in the context of the kitchen remodel. According to an article on Home Guide Remodeling Costs, it’s recommended to budget a maximum of 15-20% of the value of the home for a kitchen remodel. So if the home is worth $250,000, the budget should be between $37,000 and $50,000 for a kitchen remodel, putting it in the category of a minor remodel. If the home is worth $500,000, the budget should be between $75,000 to $100,000, putting it in the category of a mid-range major kitchen remodel.