Kitchen Remodel Or Bust

If your kitchen is like most others across America, it's the place where good food is made, where family and guests congregate, and where memories are born. So it stands to reason that kitchen remodels are very popular. Many homeowners recoup most of the investment price on a kitchen remodel. In 2006, the average cost vs. value of a minor kitchen remodel was 85.2%.

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Kitchen Renovation Checklist

But before you fork out the cash for your kitchen remodel, consider whether the cost is really worth the upgrade. If you're contemplating a renovated kitchen, you might want to ask yourself a few important questions first:

  1. Is the roof falling in? A renovation might be necessary for safety reasons. Or, it might be a critical to protecting your home from threats such as termites or water damage. If this is the case, you'll want to begin the kitchen remodel as soon as possible.
  2. Are your finances in order? There's more to deciding whether you can afford the renovation than finding the funds. Your decision should take into account your total financial security. Do you have adequate life and disability insurance, health insurance, retirement savings, and well-funded college accounts? It's important to have these finances secure before embarking on renovation projects such as a kitchen remodel.
  3. Would you be better off moving instead? Kitchen remodels should be worth the cost and inconvenience. Many high-end renovations can cost in excess of $250,000 and take up to a year to complete. In addition, it is entirely possible that your fantasy project could price your home right out of the neighborhood market, a bad idea if you plan to sell your home anytime soon.

If a kitchen remodel makes sense for you, consult and obtain quotes from multiple contractors. Verify credentials, obtain references, and set a budget. Be realistic about expenses and time frames.

With this peace of mind, you can look forward to the great meals and good times you'll enjoy in your newly remodeled kitchen.

Source:
Cost vs. Value Report 2006, Remodeling Online