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ROI on a Kitchen Remodel

From kitchens.com

The numbers reported below are national averages; in general, the Pacific states region outperformed the rest of the nation despite higher costs. For example, in Los Angeles, a minor kitchen remodel averages a cost of $23,135, with a return of 97.9 percent. In Detroit, however, the same project costs $22,784, with a return of just 53 percent.

Minor Kitchen Remodel, Mid-Range

The 2008-09 report puts the national average price of a mid-range minor kitchen remodel at $21,246, averaging a return of 79.5 percent (down from last year's 83 percent) a year later. What is a minor kitchen remodel? According to Remodeling, it's a 200-square-foot kitchen with 30 linear feet of cabinetry and countertops. The cabinets get refaced with new raised-panel wood doors, drawers and hardware, but the boxes stay. Laminate countertops and vinyl flooring are removed and replaced with the same material, but in updated colors and patterns. You also get a new, energy-efficient wall oven and cooktop, a new mid-priced sink and faucet, wall covering, and a new paint job on your trim.

Major Kitchen Remodel, Mid-Range

A major kitchen remodel at a mid-range price will run an average of $56,611, according to the report. A year later, you can expect to recoup 76 percent (down from 78.1 percent) of that. This 200-square-foot kitchen features a 3-by-5-foot island, 30 linear feet of semi-custom wood cabinets, laminate countertops, and a double-bowl stainless-steel sink with single-lever faucet. Add new energy-efficient appliances: wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Finish up with new vinyl flooring and paint for the walls, trim and ceiling.

Major Kitchen Remodel, Upscale

Price tag: $110,964, according to the report, with an ROI of 70.7 percent (down from 74.1 percent). It's an easy bill to run up in a 200-square-foot kitchen with 30 linear feet of custom cherry cabinets with interior accessories, natural stone countertops, and an imported ceramic or glass tile backsplash. Appliances include a built-in refrigerator, cooktop, 36-inch commercial-grade range and vent hood, built-in warming drawer, trash compactor and built-in microwave/convection oven. Then add a high-end undermount sink; designer faucets; built-in water filtration system; general, task and under-cabinet lighting; cork flooring; and cherry trim.