Early in the process of designing your kitchen remodel, you must determine how much you plan to spend on the project.
While you won’t nail down a specific price until later down the road—after you’ve finished schematic drawings and picked your desired features, fixtures, and finishes—you need to start with a ballpark range to help guide the planning process. Setting this number early on enables you to manage your expectations and also implement cost-saving solutions so you still create the kitchen you desire in Greensboro, North Carolina, without arriving at a project price you never intended.
Budgeting for any home improvement project typically requires balancing what you want with what you can afford. You want to be realistic about the cost of your kitchen makeover or renovation and the value it will add to your home in the Greensboro area.
At the end of the day, your overall kitchen remodeling cost depends on a variety of factors, including the scope and size of the project, whether you buy all new appliances or reuse your existing ones, and the type and quality of materials you select for cabinets, countertops, flooring, and other fixtures.
To help you start developing a preliminary budget for your project, research recent remodels of comparable scope and size in your area. According to 2020 data from Remodeling magazine for the South Atlantic region, which includes western North Carolina and Eastern Tennessee, here are the average costs for various types of kitchen remodels:
A minor kitchen remodel, which involves working within the footprint of your existing space, typically costs about $20,000 to $25,000. This scope of project tends to include taking a functional but dated space and giving it a thorough makeover, from replacing laminate countertops and installing a new mid-priced sink and faucet to adding new midrange flooring. At this rate, you would retain your cabinet boxes but replace the fronts with new wood panels, drawer fronts, and hardware. Also, the cost doesn’t cover layout changes or moving plumbing and electrical. Key kitchen appliances, such as your cooktop/oven range and refrigerator, can be switched out for newer, energy efficient models. Finally, the kitchen is finished off with a fresh coat of paint and new trims. The estimated return on investment (ROI) in North Carolina for a midrange kitchen makeover tends to be fairly high. You can expect to recoup about 76% of your costs in resale value.
For a major remodel at the midrange level in the Greensboro area, you should expect to pay closer to $60,000 to $65,000, with an estimated ROI of about 59%. The extra cost involved in this level of project covers completely tearing out your cabinetry and replacing it with semi-custom wood cabinets, including a standard-sized kitchen island. Other new features include an energy efficient range, vented range hood, dishwasher, built-in microwave, and garbage disposal. You also can install a standard double-tub sink and custom lighting fixtures. While the size of your kitchen remains the same, you can tweak the floorplan to relocate various kitchen components, which leads to higher costs to reroute or enhance your electrical and mechanical systems, including plumbing and HVAC.
If you want to take your kitchen remodel to the next level, opt for adding upscale finishes and high-end features, including stone countertops, an imported ceramic- or glass-tile backsplash, lavish tile or hardwood flooring, and a high-end undermount sink with designer faucets and a water-filtration system. The scope of an upscale remodel also encompasses top-of-the-line custom cabinets with built-in sliding shelves and other interior accessories to streamline the efficiency of your kitchen. Other components to consider include a built-refrigerator and a commercial-grade cooktop, vent hood, and wall oven. Complete your upscale kitchen with custom task and general lighting and a new wall treatment. For a major upscale kitchen remodel, you can expect to pay between $80,000 and $90,000.
If you want to invest closer to $130,000 into your project, your design can include reconfiguring the space, implementing a new floorplan, and removing walls to completely transform the space and make it feel brand new.
How to Allocate Your Kitchen Remodeling Budget
To get a better sense of where your kitchen remodeling budget goes, it helps to break down the project into individual parts. According to the National Kitchen and Bath Association, here’s a look at roughly what percentage of your budget will go toward what kitchen component:
Labor costs tend to account for about 20% of your overall project cost, which also depends on how you go about designing your kitchen remodel: whether you hire separate architectural and construction firms or utilize a design-build remodeler.
If you want to stick close to a specific budget, your kitchen remodel designer can work with you on cost-saving solutions. Ultimately, the choices you make in terms of materials, features, and finishes drive the overall price of your project. For a smaller investment, choose basic, economy grade cabinets, flooring, countertops, and appliances. The more customized and/or imported products you incorporate into your design plan, the greater increase to your bottom line.
Additionally, you should avoid making changes to your remodeling plan after materials are ordered and construction is underway. Unnecessary change orders cost you not only money, but also time, as they can delay your project.
Ultimately, the materials and finishes you choose drive your kitchen remodeling budget. You should go into the project with a rough estimate of what you want to spend, along with your absolute maximum. Based on those numbers and your original ideas, Wood Construction and Remodeling can help you design a plan that captures a majority of, if not all, you project priorities. For each Greensboro kitchen remodel we undertake, large or small, we work with our clients to meet and exceed their expectations for budget, schedule and quality.