A kitchen remodel in Salt Lake City may cost as low as $7,700 up to $38,600 depending on the features and inclusions. Most homeowners, however, spend around $23,200 on average.
When asking for quotes from contractors, you should be aware of the distinct differences between a remodel and renovation. The latter often entails restoration and repairs for the kitchen, while remodeling usually involves changes to its layout and design.
What to Expect from Your Budget
While a larger budget provides you with more freedom to make changes for your kitchen, try to limit your expenses by knowing which finished products contribute the most to the actual cost of remodeling. In most cases, you could spend up to 70% of your budget on finished products and certain appliances.
The remainder goes to labor fees and miscellaneous expenses. If you hire a general contractor in Salt Lake City, the total price may increase by almost $3,500 because of an additional contractor’s fee. Those who want a full-kitchen remodel should expect to spend from $15,000 to $60,000 just for the finished products alone.
Your choice of cabinets will affect the overall expenses more than any other fixtures in the kitchen. Choose stock cabinetry to save up to $20,000 on the total cost of remodeling a kitchen. That figure doesn’t include the cost of installing it.
You should consider seeking advice from a property broker in Salt Lake City if you plan to sell your house after a kitchen remodel. Most buyers are very particular with the style of a home’s kitchen. In 2018, almost 60% of closed deals predominantly hinged on a well-designed kitchen. Don’t spend a fortune without cranking the numbers on how much you can recover from your investment.
Return on Investment
The average return on investment from a minor kitchen remodel in the U.S. reaches up to 81%. If you spent around $22,000, you could regain approximately $17,200 upon reselling the house. Minor remodels generally don’t involve changes to the kitchen’s layout. Some of the usual tasks include replacements for cabinet fronts and upgrading kitchen countertops.
A minor kitchen remodel also has a bigger ROI than mid- and high-end remodels. For instance, you could only recover up to 59% of a mid-range project worth around $63,800. Those who spend more than $125,000 may only recover up to 53.5% of their investment. Based on these figures, a bigger budget doesn’t always translate to a higher resale value.
You should consider the appraised value of your property before making certain upgrades. Does it make sense to add smart appliances to a kitchen if your house is worth below $250,000?
You could spend less than $7,000 for a kitchen remodel in Salt Lake City, although you’ll have limited options with a smaller budget. Ask for quotes from at least three different contractors to know the best rates, even if prices in Salt Lake County remain mostly the same among service providers. Remember to ask for an itemized quote instead of an estimate, as the former already includes all of the foreseeable expenses.
