By ,
Published January 31, 2017
If your oven heats up to only 300 degrees and your linoleum floor is peeling at the edges, it's a good bet that your kitchen is long overdue for a renovation. But how much does a kitchen remodel cost?
According to Remodeling magazine, the average price of a minor kitchen renovation is $20,122, while a major overhaul will drain $60,000 from your bank account.
Here's more of what you can expect to pay -- and, even more important, some ways to save.
Cost breakdown of a kitchen remodel
The biggest line items on a kitchen makeover are cabinetry (29% of a typical budget), appliances (14%), and countertops (10%). John Bodrozi, co-founder of the digital home management app HomeZada, breaks down the type of remodel you can expect in three price ranges:
How to save on kitchen remodel costs
An unwritten home improvement rule is to spend 5% to 15% of your home's total value on updating your kitchen. But that doesn't mean you can't use your ingenuity to save more than a couple of dollars.
Cheryl Kees Clendenon, owner of In Details Interiors, which is based in Pensacola, FL, offers these tips:
If you're tempted to splurge anywhere, countertops are a worthwhile investment, because they can radically change "the complexion of the space, improve function, and add value," says Clendenon. Her go-to is the nonporous Silestone, which comes in multiple color options. Midrange countertops should cost between $2,100 to $4,100.
What's the return on investment on a kitchen remodel?
None of these expenses can be considered pocket change, of course. But you will get some of that money back later whenever you decide to sell your home, because buyers will willingly pay for your new look. In fact, you'll earn back an average of 83% of the money you spend on a minor upgrade, or 65% for a major overhaul.
In other words: You've got to spend money to make money on a home. And besides, who doesn't want a brand-new fridge and sleek new countertop?
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Watch: 3 Sneaky Ways to Make Your Kitchen Look More Expensive
https://www.foxnews.com/real-estate/how-much-does-a-kitchen-remodel-cost-enough-to-make-you-lose-your-lunch