Following on the heels of last week’s post, I thought it might be time for a refresher. Below is a reprint of an earlier post, first published August 8, 2012. I hope you find it helpful in making the decisions that will affect you in the years to come. –Kent
HOW MUCH SHOULD MY KITCHEN RENOVATION COST –JK, Forest Hills NY
In a new home, purchased in the last 3 years where you are gutting the entire space, you can use the following guideline based on a medium or slightly above medium level project in the Metropolitan area:
Figure 30-40% of your purchase price for over-all design, demolition, construction and materials costs. 20% of that figure should be allotted for your kitchen.
In a home that you have lived in for more than 5 years and for which you are only renovating the kitchen, use the following guideline based on a medium or slightly above medium level project in the Metropolitan area:
Figure $600-$900 per square foot including the costs for an interior designer or kitchen and bath specialist, a registered architect, appliances & materials and all filing and contractors fees.
Materials can run in the following ranges, depending on your choices:
Appliances – $10,000-$30,000
Counters – $8000-$15,000 ($50-$150 per square foot)
Custom Cabinetry – $15,000-$50,000
Flooring – $10-$30 per square foot
Hardware – $1000-$3500
Lighting – $2000-$5000
Tile or Stone – $15-$80 per square foot
These guidelines are based on kitchens 80-150 square feet located in the Metropolitan area. Additional costs may apply for Asbestos and Lead removal in buildings constructed through 1977 as well as any previously undetected and necessary mold removal in all construction. In NYC many buildings require piping replacement to the branch line. Requests for electrical upgrades must be cleared with building management and are likely to add significantly to the cost of your project.
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