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How to Make $5,000 Stretch in a Kitchen Remodel

By Melissa Dittmann Tracey, REALTOR® Magazine

A “minor” kitchen remodel will cost home owners, on average, $21,695, according to the Cost vs. Value survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.

So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?

Check out this video below from AOL Real Estate with Jeff Lewis, star of Bravo’s “Flipping Out,” sharing how he transformed a kitchen for less than $5,000. He painted the cabinets, added new countertops, replaced the faucet, added a stainless steel kitchen island, and accessorized to give the kitchen an updated, fresh look. What are your best ideas for remodeling a kitchen on a tight budget? Get more ideas at REALTOR Magazine online: Easy Solutions for Kitchens & Baths.

Comments
  1. Sometimes It is the right choice to only do a partial remodel or ‘freshen up” your kitchen. On the other hand ..lets say your opt for new countertops but save the cabinets. An awesome looking granite top can have a negative effect on old or worn out cabinets. I was guilty of this on my own place!
    I saved maybe 10 grand by not replacing the cabinets but at resale time I think it really hurt. Anyway…my 2 cents

  2. it depends on the size of the kitchen, 5 grand can go a long way. I may even be able to put together an entire kitchen for 5 grand with granite tops. Alot of my rehabs are done with this.

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