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Cabinetry as a percentage of the home price1/7
What range do you fall into if you build custom cabinetry as a percentage of the final home price?
Running a dozen jobs numbers today that I knew the sale price on, we tend to fall between 2-3% of the final home price on new homes.
That is without installation, no tops- just cabinets delivered to site.
Does anybody else track this and if so, what are your numbers if you'd be willing to share?
What's the price of a new home.
Can you tell me how long the string is?
Does it matter?
We do probably 40 homes year, but i simply don't know the price on many of them so I ran the ones I did. Best data I had, although very incomplete.
I wanted to run some numbers to see where we are versus our competition in our area at our price point of home. Thanks-
Sorry Leo, part of my message dissappeared with the data I used.
I ran two homes at 320,000. two homes at 400,000. eight homes in the 750-800,000 rnage. one each at 1.8, 2.3, 3.1 million. Those where the only homes I had data on.
We don't do entire kitchens, or a house full of cabinetry.
But we do parts of some kitchens, and parts of some houses, so we get sorta close to what you are looking for. But we work with the top 2-3% of all housing, so.....
House at $5M may have a $120-150K kitchen, complete with stone, appliances, installed, etc. Bathrooms (5-7), basement bar, two laundry rooms, mud room, craft room, pantry, and now even garage cabinets will exceed over $250K, for 5%. Note that most secondary cabinets are stock units.
A house at $2.5M will still have a $100-120K kitchen, but no garage cabs and maybe not the basement bar (those all go in later, months after move-in). Dramatically downscaled laundry cabs, secondary bath cabs, etc.
Kitchen and master baths seem to have no upper limit. I just saw a single shower with $18K worth of German Chromed exposed plumbing fittings for a shower head and hand shower, with shut offs, etc.
On the 3.2 I had data on, I don't know what the stone ran throughout or the install of the cabinets ran. But the whole house around 65k of our cabinets throughout (we very rarely get cherry picked for just the kitchen). Off the top of my head I'd say $14k of that was in the kitchen. I think the appliances ran 35k if I remember seeing the invoice right months ago.
I'm getting more call for the 1+ million dollar home and trying to collect data on the jump up in cabinet prices from the 1 million and below market.
Thanks for the input.
Family Man - I forgot to mention that most homebuilders use conventional estimating programs that can generate 'budgets' for everything from footers to carpeting. You might approach a better customer/builder and see if they can share some of the basics for cabinetry. It is to your mutual advantage to be able to supply within budget - they like it, and it should be an easier sell for you.
We run into the "Our budget will not cover this so we will have to think about it...." I spent years wondering where and who came up with the budgets for a 'custom' house. Back then, it was shoot from the hip, lowball stuff at every step, with pissed off homeowners by the time they got to realizing the the $2.12 a yd carpet just was not going to hack it.
Today, it is a bit more sophisticated, with a printed spread sheet with hundreds of line items with a budget price. But they do like to keep that info private.
I don't build houses so I really wouldn't know. Plus, most of the kitchens I build are put in a home that had a previous kitchen, ie: not new.
The homes around my area, new, are probably in the 200-300,000 range and my kitchens run 20-30,000 for the cabinets, not including counters, appliances or gadgets.
So From my calculations I'm at 10%
It's important to not mix new construction with remodel in this conversation. It will almost always be more expensive to build a new home than the current market value of a similar size and quality used home. Therefore percentages of value of cabinets vs home value are pretty meaningless when you include both new and remodel projects.
Remodeling Magazine has published its 2016 Cost vs Value report, which contains the costs of 3 different replacement kitchens broken out in over 100 local markets. They began this annual report about 2002. It includes the costs to renovate kitchens then also shows the percentage of the project cost that is added to the home.
This year's Upscale Major Kitchen Remodel project has a national average cost of $119,909 and is described as follows:
Update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic- or glass -tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; built-in warming drawer, trash compactor, and built-in combination microwave and convection oven. Install high-end undermount sink with designer faucets and built-in water filtration system. Add new general and task lighting including low-voltage undercabinet lights. Install cork flooring, cherry trim.
You can download the report free at the link below to see the values for your market.
2016 Cost vs Value Report