The general consensus is that you will recoup around 90% of the money spent on a kitchen remodel. While this may be a significant factor if you are planning to sell your house in the near future, it should also factor any time you decide to remodel your kitchen. Kitchen remodeling will also give you a great return in the satisfaction and pleasure that you will get from living with a new kitchen. This should be the main factor in deciding on whether not to remodel your kitchen.
While Remodeling Magazine's report is very helpful, it is still a very one size fits all approach to establishing a budget. Keep reading if you'd like to try to hone your numbers a bit.
A word of caution: I spent several hours researching kitchen remodeling cost and budgeting on the internet to gather data for this article. I ran into a couple websites that gave square footage pricing for kitchen remodeling. Although I commiserate with their attempt to find a simple method to figure out remodeling pricing, this type of advice is not based in reality. Remodeling jobs in general are so specific to the conditions of the building and tastes of the homeowner that no square footage pricing will ever be realistic. I also ran into many sites that did not give you any real information about establishing a budget but basically interpreted Hanley Wood's Remodeling Cost vs. Value report which is published each year. You are much better off visiting the Cost vs. Value report online and evaluating the results for yourself.
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