New cabinets are an easy way to give your home an instant facelift and improve a home’s value. Unlike other home renovations, new cabinets are a quick, easy, and affordable way to instantly boost property value in a way that the whole family can enjoy.
Things can get expensive quickly, however. It’s easy for costs to balloon out of control unintentionally, so knowing what to look for and how to buy is an integral part of the home renovation process.
Average cost of new cabinets
The price of new cabinets for an average kitchen can range anywhere from $4,000 to $13,000 depending on the options and services you use. The per linear foot rate can range from $100 to $1,200. Hardware is an additional expense, and with all of the pulls and handles available, there is room for flexibility, with prices running from $2 to over $50.
Replacing cabinets costs between $2,000 and $20,000 on average, with an additional $300 to $500 in removal costs.
Average cabinet installation cost
Up to 70 sq. ft.
Up to 120 sq. ft.
200 sq. ft. and more
Based on average costs, expect to spend about $4,991 for installation, although prices range from $1,863 to $8,278. If using custom cabinets, expect costs to balloon up to 100% more than stock or semi-custom models.
How to plan for new cabinets
There are other items to plan for when you are buying new cabinets. Installation adds a hefty expense to the bottom line, but there are other costs that will surface on your invoice, too. The removal of your old cabinets can cost up to $500 for removal and disposal.
It is also possible that you will need to adjust the placement of your existing kitchen cabinets before your new ones can be installed. This is no simple process, as it can involve the moving of outlets and plumbing, and you may need to repair drywall and paint.
Sometimes, you don’t need new cabinets at all because you can save your existing ones. Refacing cabinets costs an average of $6,800, but refinishing them only averages $2,700. With no installation costs to worry about, this can present an economical solution for the cabinets you already have.
Tips to save on cabinets
The cabinets you choose have a real impact on price. Custom cabinets can easily top $1,200 per linear foot, but you can save hundreds of dollars by choosing stock cabinets. Stock cabinets are far more affordable, generally running between $100 and $300 per linear foot. Installation is far more affordable, too, with stock cabinets costing an average of $4,991, while custom cabinets can cost more than $30,000.
A professional installation company or interior designer might be able to help you find the look and feel you want at a fraction of the price. With wholesale discounts and insider access, they could have access to liquidation sales with excellent deals.
Some larger companies will inflate costs, charging up to 3 times the cost of materials. They often outsource the installation to local contractors, serving as a middleman and driving prices up. There is an undeniable convenience of an all-in-one shopping experience at places like Ikea and Home Depot, but you will pay for the added service.
When replacing existing cabinets, you can gift the old ones to a local organization and receive a tax break for your donation. You can also save money by removing or disposing of them yourself, as installation professionals will most certainly charge you for this service.
How do new cabinets impact your home’s value
Replacing your cabinets is one home renovation that can greatly improve the value of your home. Your new cabinets can offer up to an 80% return on your investment, significantly increasing your home’s value overnight.
Forbes shows the greatest return on investment from updating your kitchen and bathrooms, and the research from Zillow backs it up. The Zillow Group Consumer Housing Trends Report 2018 shows that 58% of homebuyers prioritize a home’s kitchen layout in their home buying decision. That means your home can sell faster and for more money.
When deciding whether a renovation is a good investment for your home, ask these three questions:
Will your remodel increase your home’s value?
Are remodeled kitchens a draw for buyers in your local area?
How much will it cost?
Taking these items into consideration will help you determine whether replacing your cabinets is the right move for your home.
New cabinet financing options
Home renovations are never an inexpensive venture, but financing can help you get cash upfront to start the project. With a loan, you can break your renovation down into more manageable payments spread over time.
It’s just a matter of which loan is right for you.
A personal loan can offer a great solution if you are looking for a loan with fixed terms. You can enjoy a set monthly payment with no collateral necessary.
Home equity loan
A home equity loan gives you access to cash upfront via one lump sum, but you use your home as collateral to guarantee the loan.
Home equity line of credit
Also known as a HELOC, a home equity line of credit is much like a credit card, allowing you an open line of credit that you can reuse as you pay it off. This loan also uses your home as collateral, but it is subject to a fluctuating interest rate that can change the cost of your monthly payments throughout the life of the loan.
With all the costs of new cabinets, it can be tempting to try to go it alone and explore the DIY route. However, with electricity and plumbing involved, it can be hazardous for inexperienced users to try to navigate on their own.
Renovating your cabinets can be an expensive venture, but it can pay off in the long run with an enormous return on investment and greater market appeal.