Set the Budget
Guidelines for Your Kitchen Remodeling Budget
Before looking at line items, determine how much to spend overall.
Your goals for the project will help determine your budget. You’ll want to spend less, for example, if you’re just refreshing your kitchen before selling your home. But if you want a dream kitchen in a house where you plan to live for a while, you’ll want to invest more.
Many experts suggest that your kitchen should represent 10 to 20 percent of the fair-market value of your home. So if your home would sell for about $300,000, then spend between $30,000 and $60,000 on your kitchen improvements.
If you spend less than 10 percent, the kitchen may not meet potential buyers’ expectations. If you spend more than 20 percent, you’re less likely to make your money back at resale.