Embarking on a remodeling journey is an exciting endeavor, but it’s essential to understand the associated costs to ensure a successful project. The total cost of remodeling can vary significantly depending on factors such as the size of the space, the extent of the renovation, and the quality of materials and finishes chosen.
- Average kitchen remodeling costs
- Average bathroom remodeling costs
- How to save money on a remodel
- How to prepare for unforeseen costs
- The ROI of kitchen and bathroom remodeling
The Cost of Remodeling a Kitchen or Bathroom
It’s easy to dream about a kitchen upgrade or luxurious bathroom remodel. Maybe you can already see yourself whipping up delectable dishes on your commercial-grade range. Or perhaps you’ve spent hours envisioning yourself in a spa-like bathroom, relaxing in a deep soaking tub. If only remodeling was as free as it is to daydream about the spaces.
While cost considerations are like a harsh awakening, it’s vital to understand how much the average kitchen or bathroom remodel costs. Doing so will keep your project on track and within budget.
On average, a typical kitchen remodel project with professional home contractors ranges from $45,000 to $75,000. Rather, a high-end renovation can exceed $100,000. For bathrooms, you can expect to spend between $26,000 and $51,000 on average.
Major installation expenses typically include the following:
- Cabinetry
- Countertops
- Tile
- Flooring
- Lighting
- Fixtures
- Framing And Painting
- Plumbing
- Electrical
No two remodel projects are the same. To help with your planning, here are some notional examples that you can use to see where you might land on project cost (pre-tax, includes labor costs, excludes design and permitting):
Kitchen Remodel
| Site Preparation (including disposal) | 3,000 | 5% |
| Lighting (ceiling, cabinet) | 5,500 | 10% |
| Plumbing | 2,000 | 4% |
| Framing | 5,000 | 8% |
| Painting | 4,000 | 8% |
| Cabinets | 21,000 | 38% |
| Flooring | 6,000 | 11% |
| Appliance preparation (only) | 1,000 | 2% |
| Countertops and backsplash | 9,500 | 16% |
| 57,000 |
Bathroom Remodel
| Site Preparation (including disposal) | 2,000 | 7% |
| Plumbing | 2,000 | 7% |
| Framing | 1,000 | 3% |
| Tile | 12,000 | 40% |
| Bathroom Fixtures (shower glass, bath etc.) | 5,000 | 17% |
| Plumbing Fixtures | 3,500 | 12% |
| Painting and drywall | 3,000 | 10% |
| Countertops | 1,500 | 5% |
| 30,000 |
Finding Room for Savings
A trustworthy home remodeling service, like Benish Home Services, will always strive to help you manage costs effectively. Here are three strategies we recommend that save our clients money:
Keep existing cabinetry.
Refinishing existing cabinetry instead of replacing it will save you a lot of money. The cabinets can be refaced or painted, and new hardware usually helps elevate the look and feel of a kitchen.
Think mid-range for appliances.
We all want a kitchen worthy of Martha Stewart, but not all of us have her budget. Opting for mid-range appliances instead of top-of-the-line models can save you thousands while still giving your kitchen a sleek look.
Materials matter in the bottom line.
Marble is gorgeous, but it’s also pricey and requires a lot of maintenance and care. If our clients want to save money, we recommend they select durable yet affordable materials for countertops and flooring.
Factoring in Unforeseen Costs
You never know what could be unearthed during a remodeling project. So, it is crucial to be prepared for unforeseen expenses. We recommend setting aside a contingency fund of 10-20% of your total budget. Unforeseen issues like plumbing or electrical complications often arise during the remodeling process, requiring additional expenditures to address effectively.
The ROI of Kitchen and Bathroom Remodeling
While it’s tempting to focus solely on upfront costs, it’s crucial to consider the long-term value of your investment. Quality materials and craftsmanship may require a higher initial investment but can ultimately save you money on repairs and replacements down the line.
So, kitchen remodels offer the highest ROIs among home improvement projects, with estimates ranging from 60% to 120% or more. This percentage varies depending on the extent of the remodel and local real estate market conditions.
While bathroom remodels don’t offer as high a return as kitchens, you can still expect an average a 60-80% ROI.
Trust Benish Home Services to Keep your Project on Budget
Understanding the costs of remodeling is essential for planning a successful renovation project. By carefully budgeting, prioritizing expenses, and exploring cost-saving options, you can create beautiful and functional spaces that enhance your home’s value and meet your lifestyle needs.
So, roll up your sleeves, crunch those numbers, and embark with Benish Home Services on the journey to your dream remodel! Book a project consultation with us now to turn your dream space into a reality.