When it comes to home renovation, kitchens and bathrooms are the two most expensive rooms to remodel. If you factor in square footage and the price of kitchen appliances, the kitchen is easily the costliest room in the homes of “regular” middle-class folks.
According to Remodeling magazine’s 2014 “Cost vs. Value” report, a survey of 101 U.S. cities found that the average cost for an upscale kitchen renovation is $54,909. Of course, that number can vary widely depending on one’s choice of kitchen cabinetry, flooring, appliances, and contractor, but it still should give you a good idea about the kind of financial commitment you are looking at. After all, paying even half that prices is a substantial investment for most of us.
In the event that you are an entrepreneur shopping around for a good commercial kitchen design firm, you will obviously be looking at spending considerably more than $54,909. However, assuming that you have the financial resources necessary to go forward with a major kitchen renovation, the return-on-investment of a contemporary kitchen remodel can exceed 90%.
If you own a restaurant or hotel and are currently weighing the benefits of a commercial kitchen installation, you need to spend a lot of time planning. This is not only because commercial appliances are more costly, but commercial kitchen maintenance is needed on a more routine basis than residential kitchen repair. This is true whether you are talking about commercial refrigeration equipment or commercial dishwasher repairs.
Kitchen flooring might be one of the furthest things from you mind, but there are newer flooring options that are cheaper than conventional tiles. At the same time, alternative kitchen flooring materials can often last longer than traditional tiles. In the long run, choosing eco-friendly flooring materials that are cheaper than conventional tiles can cut remodeling costs by several thousand dollars.
Whether you are a regular homeowner planning to remodel your kitchen, or an entrepreneur about to open a new restaurant, the kitchen is the most important and costly part of your dwelling. But whatever you decide to do, you stand to gain more from renovating your kitchen than any other room.