How Much Do Kitchen Renovations Cost in 2024?
If you follow this blog, you’re likely aware that the kitchen is not only the most renovated room in a home but also the most expensive to update. As I recently completed my own kitchen renovation, I realized just how important it is to understand the true costs involved—especially in today’s market.
When I renovated my kitchen in 2020, I quickly learned how crucial it is to have an accurate understanding of costs. Now, in 2024, I’ve revisited the kitchen renovation landscape to see how things have changed. What I’ve found is both surprising and essential for anyone planning a renovation this year. Whether you’re just starting out or re-evaluating your budget, having up-to-date information is key to making informed decisions.
The average cost of a kitchen renovation in 2024
Kitchen renovations continue to be a significant investment for homeowners, and the costs have steadily increased over the years. According to Houzz’s ‘2023 Houzz & Home AUSTRALIA‘ study, kitchen projects remain a top priority during home renovations, with 33% of homeowners focusing on upgrading their kitchens. The study also highlights that the median spend for kitchen renovations has now reached $30,000, reflecting the growing demand for modern, functional, and aesthetically pleasing kitchens.
For those looking to undertake a kitchen renovation, it’s essential to understand that costs can vary widely depending on the scope of the project, the quality of materials chosen, and the size of the kitchen. According to hipages.com.au, you can expect to spend anywhere from $10,000 to $45,000 or more on a kitchen renovation in 2024. The lower end of this range typically covers more basic updates, such as new countertops or cabinet refacing, while the higher end includes complete remodels with high-end appliances, custom cabinetry, and premium finishes.
Given these figures, it’s clear that kitchen renovation costs have continued to rise, reflecting both inflation and the increasing value placed on well-designed, functional kitchens. Whether you’re planning a minor refresh or a full-scale remodel, it’s wise to budget accordingly and consider the long-term value that a renovated kitchen can add to your home.
Can You Get a $10,000 Kitchen in 2024?
In a time when the cost of kitchen renovations can easily soar, the idea of getting a high-quality, modern kitchen for $10,000 might seem impossible. However, with careful planning and the right supplier, it is VERY achievable in 2024.
At Ross’s Discount Home Centre, we believe that everyone deserves a beautiful and functional kitchen without breaking the bank. With our wide range of affordable kitchen products, from cabinetry to benchtops and appliances, you can create a stylish kitchen that meets your needs and budget.
By opting for quality yet budget-friendly materials and taking advantage of our exclusive deals, you can stretch your dollars further. Whether you’re looking to update an existing space or build a brand-new kitchen, Ross’s Discount Home Centre offers everything you need to achieve your dream kitchen for as little as $10,000.
So, while the average kitchen renovation may cost more, with the right approach and resources, a $10,000 kitchen in 2024 is not just a possibility—it’s a reality.
How to determine your kitchen renovation budget?
There estimate above really isn’t accurate enough to set in stone as to how much a kitchen renovation will cost in 2024 as it is only the median cost. Important elements to take into account include the size of the kitchen and the quality of finishes.
As a rule of thumb, a kitchen renovation budget should be around 3-8% of a home’s value. Therefore, if your home is worth $900,000, you can safely spend between $27,000 and $72,000 without overcapitalising. For those preferring to budget on a per square metre basis, allocate between $2,300 and $4,600 per square metre, as suggested by hipages.com.au.
Read our blog post “How to Calculate Kitchen Renovation Costs” for helpful advice on setting your budget.
Breaking down kitchen renovation costs for 2024
When planning a kitchen renovation budget, it is best to break it down into categories to better asses the costings. The main areas to consider in your budget include the design, materials, and labour.
In the design costs, consider costs for:
- Architect (if you are looking to make a dramatic layout change)
- Kitchen Designer
- Council permit application
The design costs should account for around 5-10% of your kitchen budget depending on whether you require an architect or not.
In the material costs, consider costs for:
- Cabinetry
- Benchtop
- Splashback Tiles
- Flooring
- Tapware
- Appliances
- Windows and Doors
- Walls and Ceilings
The material costs should account for around 65-70% of your kitchen budget.
It’s important to know that the materials are the only aspect of a kitchen renovation where you can save some serious money. Kitchen cabinets will be the most expensive items, generally consuming around 30% of a total kitchen renovation budget, respectively. However, you can significantly reduce this by choosing Ross’s Discount Home Centre’s pre-assembled kitchen cabinets, which you can view on our website.
In the labour costs, consider costs for:
- Demolition and removal of existing kitchen
- Skip bin hire
- Plumbing work
- Electrical work
The labour costs should account for around 20% of your kitchen budget.
Conclusion
The cost of a kitchen renovation continues to rise, and the increases are far from insignificant. As we’ve seen, kitchen renovations have become more expensive over the years, with a median spend of $30,000 in recent studies. While these rising costs may seem daunting, it’s essential to remember that the final price can vary significantly depending on the size of your kitchen and the quality of finishes you choose.
However, with smart planning and the right choices, it’s still possible to achieve a beautiful and functional kitchen within your budget. Whether you’re looking to invest in a high-end remodel or seeking more affordable options like the pre-assembled kitchen cabinets offered by Ross’s Discount Home Centre, there are ways to manage costs while still creating the kitchen of your dreams.
As you plan your renovation, consider your needs, budget, and the long-term value of your investment. With the right approach, you can create a space that not only enhances your home but also offers lasting satisfaction and enjoyment.
