Written by Peak Improvements in Edmonton.
What Is the Cost of a Kitchen Renovation in Edmonton?
A kitchen serves as the heart of a home, becoming a place where time is spent with family members and friends preparing meals, doing homework, and catching up on the latest gossip. However, there are times when a current kitchen setup fails to check off all the boxes for a homeowner. Whether it is the traffic flow, poor storage, outdated cabinetry or something more, there are plenty of practical reasons people are looking to update their kitchen.
You are in excellent company if you are thinking of renovating your kitchen. Kitchen renovations are among the most popular home renovation projects. Those looking to list their home soon may also benefit from the highest ROI from this type of home renovation project. Understand more about the expenses associated with a kitchen renovation today.
Which Factors Influence Renovation Costs
All kitchen renovations are not the same. Square footage, material selection and custom features can easily add to the costs of a renovation. Budget-minded homeowners making a handful of updates may only spend around $5,000 while the average kitchen renovation runs around $45,000. Those considering an entirely new kitchen can spend upwards of $80,000. This is quite a range when it comes to a potential spend. Homeowners interested in a high ROI may want to check recent comps in Edmonton and speak with an agent to find out which kitchen projects attract the most interest from potential buyers.
Where Money Goes in a Renovation
Without planning ahead of time, it is often surprising how much money can go into renovating a kitchen. How are costs generally allocated and where might a homeowner spend the majority of their budget? The most money is typically spent on cabinetry and hardware (29%). Those that want to keep costs low and have quality cabinets may simply want to resurface existing cabinets and get new hardware. In North America, other significant costs include:
- Installation (17%)
- Appliances and Ventilation (14%)
- Countertops (10%)
Less money needs to be allocated for projects involving flooring (7%), lighting (5%), walls and ceilings (5%), doors and windows (4%), faucets and plumbing (4%), and design fees (4%). Not every homeowner will need to address each of these areas in their renovation. In addition, there are many ways to cut costs without impacting the quality of the end project.
How About Homeowners on a Budget
Homeowners looking to reduce the expenses of their kitchen renovation are in luck. Much depends on the extent of a project but those who can use existing cabinetry and flooring may only need to have professional resurfacing done. This can significantly reduce overall costs and update the appearance of a kitchen. Other areas offering flexibility for mid-range or low-cost options include:
Fixtures. With the range of faucet and fixture options, homeowners can go all out, get a mid-range option or look for a classic and complimentary faucet and fixture on clearance.
Surfaces. From countertops to flooring, there are high-end choices like natural stone, but also more affordable laminates that can do the job well.
Lighting. LED lighting is a good way to introduce energy-efficient lighting in a home. However, a design firm can help a homeowner find accent lighting, task-lighting and other types of lighting to improve the look and functionality of a kitchen.
Appliances. Choosing average or lower end appliances may also help cut costs. Those that do not need an extravagant kitchen can save money on their kitchen appliances.
Consider some local financial incentives and rebates for homeowners renovating in Edmonton. Check out the Home Energy Plan to find out more about rebates and incentives to help stretch those dollars and reduce utility bills. This may help those thinking about ENERGY STAR® appliances, new windows, additional insulation and more.
Work with an Experienced Design Build Firm
Few homeowners think about how much time they spend in their kitchen. Improvements to increase storage, flow, lighting and overall look can do much to make that time more enjoyable. Avoid cutting costs that will negatively impact quality. Partner with an established design build contractor to sit down and take in the results of a high-quality kitchen renovation that will pay off now and in the future.
Go to https://blog.peakimprovements.com/renovationfind to learn more