Kitchen remodel only 15% of home value?!?
We have received a few quotes from kitchen remodeling companies, and the prices are not on target with what I've read (that the remodeling cost should be no more than 15% of the home's value). We know that the appliances, wood floor, tile floor, glass tile backsplash, copper sink, light fixture, etc. will cost approximately 18,000, and the cabinet quotes have ranged from 15,000 to 23,000. The labor is about 18,000. That is somewhere around 55,000 total cost (or more), but the current value of our house is 280,000. I haven't picked out crazy expensive appliances or cabinets, either: GE Profile and Haas, Merillat Masterpiece, and a few other semi-custom maple cabinet manufacturers. I live in Michigan - does anyone know if this is normal?