For anyone considering a kitchen renovation, cost is of primary concern. How much is your kitchen renovation going to cost? It’s a big question, and the answer is always, “It depends.”
Maybe you’ve already decided on a budget for your kitchen remodel, but you know you need to prioritize. What costs the most in a kitchen remodel? Where should you focus your budget, and where can you compromise?
Let’s look at the factors that affect the cost of a kitchen renovation to help you plan, budget, and prepare for your remodel project.
10 Factors that Affect the Cost of a Kitchen Renovation
These 10 factors determine how much your kitchen renovation will cost. Some components of a kitchen cost more than others, and some are easier to change if you need to decrease your renovation costs.
1. Home Value
Experts recommend spending between 10-15% of the market value of your home on your kitchen renovation. Use this as a guide for deciding on your kitchen renovation budget. This ensures a better return on your investment. If you spend too much, it might not increase the resale value of your home enough to recover your costs.
The location of your home will impact many of your renovation expenses. Labour costs vary from one province or city to another. Shipping costs can vary depending on where you live. And even material costs may differ by location. The best way to get an accurate estimate of these costs is to consult industry professionals in your area for comprehensive quotes, including a price breakdown.
Naturally, the larger your kitchen, the higher the costs will be. Thirty cabinets will cost more than ten cabinets. Many materials are priced per square foot, so size matters. Even the height of your ceiling can affect the price.
4. Degree of Change
How extensive is your kitchen renovation? If you’re changing the floor plan and require additional plumbing and electrical work, or if you’ll need to reconfigure the flooring, walls, windows, or doors, the cost of your project will be significantly higher than a renovation using the existing floor plan and kitchen layout.
Even though reconfiguring your kitchen can be costly, if your current layout isn’t functional, it’s worth the investment for your own enjoyment and quality of life, and for the resale value of your home.
The quality of your new kitchen appliances, and the quantity or type of appliances you need will affect the cost of your renovation. High-end, commercial grade appliances will cost more than standard appliances. And if you want to go beyond the standard fridge/oven/dishwasher combo, you’ll pay extra for additional appliances like a microwave, separate full-size freezer, wine cooler, garbage disposal, etc.
Your new cabinets will account for much of your kitchen renovation. The cost of cabinets is determined by several factors, including:
- Type (stock vs. custom)
The main factor that affects the cost of your countertops is the material. Granite countertops cost significantly more than laminate countertops, for example. Naturally, the size of your countertops will affect the cost, too. Find out How to Choose the Best Countertop for Your Kitchen.
Most standard light fixtures won’t vary much in cost, but if you decide to upgrade to smart lighting you can control with home automation, or variable colour temperature lighting, or designer fixtures, you’ll pay more for those features. Find out How to Choose the Best Lighting for Your Kitchen.
With kitchen hardware, you get what you pay for. Cheap knobs and pulls look cheap, and lower cost hardware finishes can wear off over time. Paying a little more for kitchen hardware is a simple way to upgrade the look of your kitchen and improve its durability.
The amount of knobs and pulls you require will affect your hardware costs. Also, the size, style, and material are all factors. Find out How to Choose the Right Kitchen Cabinet Hardware.
10. Project management
A poorly managed kitchen renovation can be painfully expensive. If contractors are scheduled before the materials arrive, for example, you’ll end up paying extra charges for the time they wasted showing up to your house before it’s ready for them. It pays to hire an experienced renovation project manager to ensure a smoother, more efficient kitchen renovation.
What adds the most value to a kitchen remodel?
With so many factors contributing to the cost of a kitchen renovation, it’s easy to see why there’s no simple answer to the question of “How much does a new kitchen cost?”
In addition to the above factors, consider the values of attention to detail, experience and expertise, and a supplier’s relationship with the manufacturer of your kitchen cabinets. These are important parts of your remodeling project. These are also values Riverstone Kitchens & Renovations prioritizes. Contact us today for a free consultation about your kitchen renovation.