Ever since people began to stay at home more due to the pandemic, the number of renovation projects skyrocketed. In fact, a recent analysis found that there was a 58% increase compared to other years! The most common renovation is that of the kitchen and living room.
The cost of a kitchen renovation can differ, as it depends on the extent of the renovation. There are three ranges: low-range, mid-range, and high-end kitchen renovations. Read on to learn the average cost of a kitchen renovation for each range.
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Low-End Cost of a Kitchen Renovation
The average cost of a small kitchen renovation is in the $10,000 to $15,000 range. With a low-end renovation, you won’t be renovating your entire kitchen. Instead, you’ll be strategically updating specific areas of it.
Typically, people in this price range will renovate all of their kitchen cabinets. They do this by replacing the outdated cabinet material with a newer one. Of course, depending on the material you choose, it’ll raise the price by quite a lot.
Another option is changing the kitchen tiles and backsplash (if your kitchen has them). You can choose more neutral colors like white for a more new kitchen look. By renovating the cabinets or tiles, your kitchen will look brand new and a lot more modern.
Mid-End Cost of a Kitchen Renovation
A mid-end cost of a kitchen renovation is between $25,000 to $40,000. With a mid-range budget, you’ll be able to renovate your kitchen however you want! You can also select fancier materials for the renovation, like marble or real wood.
Most people use professional tradespeople to help in the renovation. Of course, hiring a specialist doesn’t come cheap, so you will need to add up the cost of a kitchen renovation before making a decision. Be sure to plan the renovation well, as adding something you don’t like will be costly.
High-End Cost of a Kitchen Renovation
Often referred to as luxury kitchens, a high-end price range gives you unlimited renovation planning. The price range usually falls between $90,000 to $120,000, surely a costly renovation. A high-end renovation allows changing all of the kitchen appliances as well.
Popular kitchen designs like Hamptons or French Provincial often fall into this price range. They have intricate designs that feature corbels and glass that will require a specialized tradesperson. In reality, it’s sometimes cheaper to buy a new home that already has a high-end kitchen.
If you are thinking of purchasing a new home with your dream kitchen but need help getting a loan, look for a mortgage broker with a low rejection rate, such as Hunter Galloway.
Make Your Dream Kitchen Come True
As you can see, the cost of a kitchen renovation is quite varied, making it possible for anyone to do it. As long as you plan out your budget well, nothing stops you from having the kitchen of your dreams! So don’t hesitate any longer and start planning your kitchen renovation today.
If you enjoyed this piece, then be sure to check out our other house-related posts. Without a doubt, you’ll find them as informative as this one!