If you’re thinking that kitchen remodeling is going to increase the value of your home, that’s true. However, if you’re hoping to get back at least what you put into it when you sell, that’s not likely. In fact, according to the Cost vs. Value Report of 2019, for the Tampa Bay area, the average return when kitchen remodeling varies from about 58% – 74% depending on the type of remodel. We’re going to break down what you can expect as far as ROI for three different types of kitchen remodels.
Midrange Minor Kitchen Remodel
A minor kitchen remodel keeps everything in the same location and even reuses the cabinet structure but replaces the drawers and doors. This remodel is based on about 30 linear feet of countertop and cabinets. Of course, it does include new energy-efficient appliances and new flooring. Surprisingly, this doesn’t include natural stone countertops but still uses laminate. Overall this type of remodel is about 200 square feet which isn’t a very large kitchen for today’s standards. Of course, this is the least expensive of the types of remodels evaluated and brings in the most as far as ROI at 74.1%. You’ll need to plan on spending $15,000 -20,000.
Midrange Major Kitchen Remodel
If you have a significantly larger budget, you may choose a midrange kitchen remodel for $38,000 – $64,000. This includes re-configuring the kitchen and adding an island. New semi-custom cabinets made of wood are key to this remodel and are a significant portion of the increased budget necessary. Again, all new energy-efficient appliances, including custom lighting are part of this style remodel. You’ll also add a new double-tub sink and resilient flooring. The average ROI on this type of remodel is 60.1% in Tampa.
Upscale Major Kitchen Remodel
The word upscale should clue you in that this is the biggest budget item. You’ll want at least $75,000 but may spend as much as $125,000 depending on your taste. What may surprise you the most is that the upscale major kitchen remodel has the worst ROI of the three evaluated with only a 57.9% return. Just like the other two examples, this is based on approximately a 200 square foot kitchen. However, this does include natural stone countertops and wood-look or hardwood flooring. Another difference is that although you’ll want custom lighting, you also need undercabinet lighting and task lighting. The backsplash should be a ceramic or glass tile and the sink needs to be a high-end undermount style with specialty faucets. Another significant difference is the commercial-grade cooktop and wall oven rather than a stove.
Whether you’re looking at a minor or major kitchen remodel that’s basic or upscale, the kitchen remodeling magicians at Jamco Unlimited is ready to help. We offer many cabinet lines to suit many budgets and our goal is to help you create a kitchen that works for your family and fits in your budget. Call us today at (727) 412-8524 to schedule your free consultation.