I don't want to get off on a real estate derail in the cooking thread, but the money return on remodels has a lot to do with what part of the country you are in.
A full kitchen gut/remodel with all new appliances, if hired completely out, can easily cost in the $30,000 - $40,000 range without even getting too crazy on the finishes or appliances. And that cost is going to be somewhat similar no matter where are you are in the US(short of being in a Manhattan high-rise or somewhere incredibly remote that makes work unusually difficult) Appliances cost the same everywhere, granite and tiling costs pretty much the same everywhere, etc. That makes a lot more sense in a 2000 sq foot house that will sell for $1.2 mil on the West Coast, then that same sized house that sells for $150k in the midwest. Thats a drop in the bucket of the total house cost in large cities on the coasts, but its a huge, huge % of the total house value in the middle of the country.
Take my house for instance. As it stands right now, the kitchen is outdated from the 80s, and my house would sell for ~$140k right now (about a 1500sq foot house). We could spend $25,000 on a new kitchen and our house might sell for $150k. Just doesn't make sense where we are currently at. You could barely do all the work yourself and even come out ahead. But if its the difference in your house selling for $700,000 or $800,000, go for it.
If you ever watch HGTV or DIY network, you'll notice that the vast majority of those remodel/flip shows are in expensive housing markets like Toronto or LA. There's a lot more room for profit margins in those market when dealing with million dollar properties than there is dealing with $100,000 properties.
