Average cost to renovate your kitchen in 2020
With new 2020 design trends, the kitchen outgrows its importance as a pure food area and becomes a family and guest meeting space. Apart from preparing food, homeowners are spending time with their loved ones in the kitchen, doing their homework, cleaning kitchen cabinets or sharing a glass of wine with their friends or neighbors.
For a ballpark figure, kitchen renovation costs in Montreal range from $5,000 to $50,000+, with an average of $20,000. Both homeowners and real estate agents agree that when it comes to home renovation, the kitchen is among the top three most important parts of the house as a home’s value increases significantly with a kitchen renovation. On average, for a medium-sized house ROI (return on investment) accounts for around 70% which puts the kitchen at the first-place sellers consider when investing their money. When it comes to kitchen renovation projects, the first thing that will save you money is to know exactly how much you should expect to spend. And that is determined with financial planning and budgeting.
Over the years, we have found that our customers invest in their kitchen these amounts:
A smaller project that includes painting ceilings & walls, tiling, refurbishing or refacing kitchen cabinets and ameliorating a hand basin can cost between $5,000 and $12,000. Cabinetry stands for the biggest expense in kitchen renovation projects because the entire kitchen layout and function is built on them. Anything beyond $25,000 projects include more elaborate renovation processes like installing custom kitchen cabinets, top-notch appliances, timber flooring or granite/quartz/dekton countertops.
You should also reserve 10-15% of your budget for the unforeseen issues or last minute extra wishes. People choose kitchen renovations for various reasons, from increasing home’s value to changing the appeal of their living spaces. According to one’s study, around 50% of homeowners choose to renovate their kitchen because they could not ‘’longer stand the old look’’. Truth to be told, when you spend most of your day in an old, obsolete, old-fashioned and boring space, you start to feel unwell and bored. Why not give your life an injection of new, different and attractive look ? It makes sense that most homeowners like the idea of renovation but fear that the costs will be out of their reach. It is true that some kitchen renovations do not come cheap but the returns are much bigger, especially if you have trustworthy renovation contractors who will help you during the whole process.
Kitchen renovation cost factors in Montreal
On average kitchen renovation costs between $75 and $250 per square foot, while most mid-sized projects cost around $150 per square foot. That means that most of the homeowners spend between $18,000 and $35,000 for the total remodeling of their kitchen space.
The expenses vary depending on various factors such as:
Kitchen renovation return on investment
According to the annual CIBC Home Renovations Poll, almost 50% of Canadians plan some kind of renovations for their home. Moreover, the percentage of costs that you may recover when you sell your home is 75-100% when it comes to kitchen renovations particularly if it was well thought out by your Designer/Contractor; which makes it a great investment. It is no wonder why out of that 50 %, almost 90% of Canadians think about giving their kitchen a brand-new look. When it comes to the financial budget, you may be stuck in the beginning not knowing how much you should invest and how much it is going to cost in the end.
There are lots of factors you should include, from the size of the kitchen, countertops, cabinetry, structural, layout & relocation modifications, final finishes you choose, even the contractor you hire for the job. Therefore, prices vary so much since it is not the same scope of work if you are only changing cabinets versus an entire renovation which will include many trades such as carpentry, plumbing, painting and electrical work. Still, investing more into a piece of high-quality equipment is much better than trying to pass with lower costs and ending up with a second-rate and inadequate kitchen that will request frequent repairs, therefore costing you more in the long run. As they say ‘’cheap is expensive’’!
How much should you invest in your new kitchen?
People may be confused on how much exactly they should spend on a kitchen renovation, especially if they do not have any desire in relocating anytime soon. We advise you to invest 5-10% of your property’s value in your kitchen, which means if your home’s worth is $250,000, you can safely invest $12,500-$25,000 without feeling like you lost your money. Still, at the end it will come to materials, products, installations and additional fixtures when the final price will be estimated on.
Renovation costs by kitchen size
When you break down the expenses in detail, you can realize that you would need approximately 10%-20% of the value of your budget if you hire an experienced Designer.
The average budget breakdown would look like the following:
-50% on cabinetry and countertops
-15% on lighting
-10% on plumbing
-15% on flooring
-10% painting, adjustments & various
To renovate a small kitchen (less than 70 square feet), you may have to invest between $5,000 and $20,000. For mid-sized projects, which is usually a standard industry size of 150-175 square feet, renovations costs vary from $20,000 to $40,000 all depending if there will be major modifications or not. The bigger (kitchen sizes 200 square feet and more) or more complex projects may easily cost more than $40,000. With larger places homeowners usually include special areas like recycling & butlers stations, seating islands and built-in kitchen gadgets. When it comes to high-end kitchen space, options include sensors, Bluetooth appliances, smart devices and energy certified built-ins, with the price between $500 and $5,000+ per item.
The cost of tradesmen for your kitchen renovation project
To get a kitchen from your dreams, you will have to get professional help from workers who are specialized and experienced in occupations related to kitchen upgrades and makeovers. Some can seem expensive but the renovation industry is not immune to the market trends and offer-and-demand. However, We will offer you a fair price and still be backed up with required knowledge, craftsmanship and experience.
Here are the most common trades you will need:
Bear in mind that flooring materials such as basic ceramics, vinyl and linoleum are the most affordable ones ($500-$2,500 for a mid-size kitchen). Granite and hardwood are more expensive but will add value to your kitchen ($1,500-$3,000). The most expensive ones go up to $4,500+ and are usually materials like marble, terrazzo and concrete.
As long as you take your time to plan the kitchen renovation according to your wishes, needs, and budget, you can make some great upgrades to your kitchen space without going into debt. And it is always easier if you have experts right by your side. We offer cost-effective kitchen solutions for every pocket, always having your satisfaction on our mind. Contact us with trust via (514) 900-5517 and let’s start planning together your new kitchen. Your new kitchen starts with our creative experts. Do not hesitate and contact us immediately! You have nothing to lose, all our experience to gain… speak to you soon !