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Around 1.5 million homeowners will redo their kitchen this year; here is a quick look at what various remodel budgets will get you:
- Do it yourself: Costs around $5,000 and takes around 1 month to complete. This would mainly include painting the cabinets and walls yourself, installing a vinyl floor, laminate countertop, basic appliances, top mount sink and a two-handled faucet. The return on this investment would vary upon what your time is worth.
- Minor midrange: $19,000 and takes about 3 months. This job would consist of professionally installed wall oven and cooktop, vinyl floors, laminate counters, median priced sink and faucet, refaced cabinets and painted walls. ROI is about 83%.
- Major midrange: Investment of about $55,000 and would take approximately 6 months. This remodel would include professionally installed semi-custom cabinets, standard appliances, vinyl floors, laminate counters, stainless steel double tub sink, single-lever faucet, and painted walls. ROI=73%
- Major upscale: Costs about $110,000 and can take 6 months or more to complete. This remodel would include professionally installed custom cabinets, stone countertops, professional appliances, cork flooring, backsplash, undermount sink complete with a designer faucet, and new lighting. The approximate ROI for this project would be 64%.