There are several elements in your kitchen with storage capabilities. Most homeowners start with their cabinets. If you need new cabinets, now is the time to update storage capacity with drawer inserts, roll-out trays or more shelves. You can also choose a closed cabinet design, a glass face to display the items in the cabinets, or even have open shelving.
Installing new appliances costs between $100 to $300 per appliance on average. By installing higher quality appliances, you can instantly improve your home's value. If you’ve been thinking of keeping your older appliances, keep in mind that most kitchen appliances only last 10-12 years and can cost $250-$500 to repair; and you might end up saving more money by replacing them with warrantied, newer models now. Newer stainless steel appliances are smudge free, and there are many options available, including:
If you decide to go with a major remodel and spend upwards of $50,000, you should consider consulting a kitchen designer. A professional designer has the experience, connections and examples to suggest what fits with your plan. He or she can also help you save where possible, so you don't spend needlessly while still getting the final product you want.
Keeping your existing kitchen appliances can save you money in the short-term. If your stove, oven, dishwasher or fridge isn't Energy Star-certified, however, you should consider upgrading them. Energy-efficient appliances pay for themselves over time by lowering your utility bills, and they help to preserve the environment, too. Additional electrical rewiring may be required to accommodate Energy Star appliances.
Major remodels involve a larger overhaul of the existing kitchen than minor remodels. Key fixtures—lighting, appliances and flooring—are replaced with new versions, while extra touches are added such as a high-end sink with matching faucet and semi-custom cabinetry. Semi-custom cabinets are customizable, with versatile sizing and door front options.
Once you have an idea of your kitchen remodel budget, play around with a loan calculator to figure out your next move. Determine how much your monthly payment may be considering your credit score, how much you borrow and how long you are willing to pay your loan. Also consider how your new monthly payment will affect your monthly cash flow and personal finances overall.