How much should you spend on a new kitchen in 2024? (2024)

FAQs

How much is the average kitchen remodel in 2024? ›

The average kitchen redo can cost $26,214, according to HomeAdvisor, with the price tag often ranging between $14,586 and $40,484 for a small to moderate project versus $70,000 to $130,000 or more for a major kitchen remodel with higher-end materials.

HomeAdvisor puts the average 2023 kitchen remodel price in the $14,611-$41,432 range with the median cost at $26,790. A small kitchen remodel can cost as little as $10,000-$15,000 and a lavish remodel can cost as much as $130,000+.

Absolutely! Smaller kitchens can see remodels ranging from $5,634 to $12,000. However, it's crucial to grasp the variables influencing a remodel's budgetary confines.

Depending on the size of your kitchen and whether you're remodelling some cabinets or having a complete renovation, the price can vary widely. On average, a kitchen renovation should only cost between 5-10% of the value of your home.

Believe it or not, the most expensive part of a kitchen remodel are the cabinets and by a large margin. Depending on the project, cabinets take up as much as 29% of the overall project cost.

Is $30,000 enough for a kitchen remodel? Yes, $30,000 is a reasonable budget for a standard, mid-range kitchen remodel that includes new flooring, cabinetry, and appliances—particularly if your kitchen is small.

"A full kitchen renovation is almost never less than $20,000 and can easily evolve into a $200,000 project based on the level of work required, the finishes you're looking for, and more," Steckel says.

A credit card can be a versatile option, allowing you to spread the cost of large purchases over a few months, or the chance for multiple expenses to accumulate over time. You can repay the balance each month over are payment period of your choice, so long as you make at least the minimum repayments each month.

Experts say that, as a rule of thumb, plan to spend between 5% to 15% of your home value on a kitchen renovation. If your home costs $300,000, your kitchen renovation budget range should fall between $15,000 and $45,000.

While cabinets are the clear winner, some elements are next in line, too. Other expensive aspects of a kitchen remodel include appliances like the refrigerator, microwave, oven, and dishwasher that cost $7000 – $12,000 on average. Next are kitchen countertops for $6000 (including installation).

What adds value to a kitchen remodel? ›

Update, Paint, or Replace Cabinets

Another one of Olhausen's favorite ways to increase the value of a kitchen is to update the cabinets. "Whether painting cabinets, updating hardware, or completely changing them out, this is a sure way to completely change the look of a kitchen," explains Olhausen.

Get at least three estimates to ensure you get the best possible bid. Be friendly, but not aggressive. Respect the authority and skills of your contractor. If you have accurate information and a realistic time frame, you should be able to negotiate on your own.

The cost to remodel a small kitchen can range from $10,500 to $50,000, depending on the scope of the project, the materials used, and labor costs. A minor kitchen remodel, which includes refinishing cabinets, updating hardware, replacing countertops or flooring, and painting, can cost between $7,000 and $20,000.

Expensive kitchens offer a range of benefits, from aesthetic appeal to functionality and increased home value. However, they also come with high costs and maintenance considerations. Whether an expensive kitchen is worth it depends on your personal preferences, lifestyle, and financial situation.

However, each kitchen renovation budget varies based on kitchen size, types of materials used and your personal budget. Average kitchen remodel budget breakdowns from low to high. Low range is $5,000 - $15,000, the medium range is $15,000 - $30,000, and the high range is $30,000+.

Bathroom Renovation Costs Per Square Foot

The national average for bathroom remodeling costs in 2024 is $135 per square foot. Therefore, a 5×8 bathroom remodel costs about $5,400.

-> In Short Answer: The time it takes to complete a kitchen remodel project varies depending on the scope and complexity of the project. On average, a simple kitchen renovation may take around 1-2 months, while a full-scale remodel that involves structural changes and custom features could take 3-6 months or longer.