When it comes to pricing, it is important to understand where the costs come from. The general rule of thumb is a kitchen renovation should be 10-20% of the home's value, so for a $200,000 home that would be $20,000 - $40,000. For a bathroom, it's 5 - 10% of the homes value, so for the same home that would be a $10,000 - $20,000 renovation.
The best ways to keep the cost down include
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Don't relocate fixtures, keep the sink and appliances in the same location. Moving fixtures means more expensive plumbing and electrical costs, which can easily add up to $2000 or more.
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Stay with simple cabinet and tile designs. The more detailed and complicated the design gets, the more it's going to cost. But this is also a double edged sword, as you probably don't want an institutional look to your home, so be selective on what you choose and pick a focal point and stay with it.
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Do demolition yourself. This often saves at least a day's labour charges, and if you tear out and dispose of them yourself that's more time we can spend on the final product. But it is best to leave the prep work to the professionals so we know it has been done right.
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Get out the paint rollers and do the painting yourself. You will need to be flexible with your time, and the drywallers should do the prime coat themselves so they can check their work, but if you have an evening that you can get the paint on between the drywall and install times, that again saves the installers to do the other things, like level out the cabinets, that you can't do yourself.
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Here are some basic numbers, which are to reflect the various expenditures related to a kitchen remodel. At the low end, we would be looking at a small – average sized kitchen where we aren’t totally reinventing the wheel, keeping appliance and plumbing locations where they are, and being somewhat frugal on our choices. As we move to average to mid-high pricing, we are generally getting into larger spaces where things are being relocated, walls are moving, and we are adding on more bells and whistles into the cabinets, and things like granite countertops. As you move downwards to the bottom column, which is for those dreamers out there that want their ultimate kitchen…isn’t it nice to think of what we would with an unlimited budget??
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Based on the NKBA survey, the average Kitchen Remodel Price is $31,250 USD. (approx. $42,185 Cdn) Here is a breakdown on what people tend to spend on their renovations. Remember, that the "renovation" could be a new countertop and backsplash, or a complete tear out and remodel. All amounts are in US dollars.
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Amount spent Percentage
$0 - $10,000 9%
$10 - 15,000 17%
$15 - 20,000 24%
$20-35,000 24%
$35 - 50,000 13%
$50,000 + 13%
Similarily, for a bathroom remodel, the low price point would likely mean a new vanity, and the mid range would be an entire renovation.
Based on the NKBA survey, the average Bathroom Remodel Price is $15,248 USD. (approx. $20,584 Cdn) Here is a breakdown on what people tend to spend on their renovations. All amounts are in US dollars.
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Amount spent Percentage
$0 - $2,500 11%
$2,500 - 5,000 17%
$5 - 10,000 21%
$10 - 15,000 13%
$15 - 20,000 12%
$20 - 35,000 18%
$35,000 + 8%