The value of cabinet refacing is definitely considerable. It is possible to save 40% - 60% versus the cost of a complete replacement
However, refacing (popular term) or resurfacing (proper English term) your kitchen cabinets is worth it if you are certain about two factors:
1. Your cabinet boxes (European style) or frame (traditional style) are not falling apart and do not have serious water damage.
2. The kitchen layout works for you. Minor adjustments to the layout and functionality of the kitchen are still very possible with refacing.
If this is the situation with your kitchen, the only factor that would make refacing more valuable is if you have a granite or quartz countertop already installed. That is right...! Being able to save your granite or quartz countertop is one of the more appealing advantages about refacing your kitchen cabinets. This concept alone defines how great the value of cabinet refacing is.
Many homeowners install granite or quartz countertops hoping that it will spruce up the kitchen, but many find that it makes the cabinets look even more dated than before. If you are one of those homeowners don't worry, you should feel smart! ;) You are now stuck with the refacing option. You will be saving thousands of dollars and your kitchen will be just as beautiful as someone who spent twice what you did on a complete replacement.
In my quoting career as a cabinet refacer I have heard many people say that the cost of refacing was not less than what they were quoted for the price of a new kitchen from Home Depot, Lowes, Ikea, etc. Of course that could be absolutely true, but only if we are comparing different materials and door styles.
I have quoted a refacing job with a Walnut (premium wood), raised panel door recently and the total amount of the refacing job was 10% higher than the quote they received from Home Depot for a complete replacement...in a white thermofoil or pvc door. In conclusion, it is very important that if you are comparing refacing vs a complete replacement, you are comparing the similar materials and door style.
Another main factor that determines whether you are saving 40%, 50% or even 60% is definitely the size of the kitchen itself. Larger is the size of the kitchen, larger are the savings due to the greater influence that the fixed costs (such as consultation, design, tools, set up, etc.) would have on a smaller job.