The kitchen is one of the most popular rooms to renovate because it yields a high return on investment. Any money you spend on a kitchen renovation is money you can expect to see back in higher resale values. So, whether you're building a new kitchen, renovating an existing kitchen or making a few updates, you're making a sound decision. The average cost for a kitchen renovation depends on many factors -- including the size of the kitchen, the quality of the materials and the complexity of the job. 

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The 5 to 15% rule is widely held as the gold standard in helping homeowners estimate and budget the correct amount for remodels. This rule holds that the entire remodel should cost no less than 5% of the current value of the home -- and no more than 15%. This is because spending less than 5% may result in a lesser home value, while a homeowner is unlikely to recoup an investment of more than 15% in a resale.