Open up the room! I can see from the picture you like that you don't like the peninsula side of your exisiting layout and how it separates the one room from the other. Ideally there is nothing in that soffitt and you could open up the layout and flow of the space.

Re: budget, I do agree with Emily. There are so many variables to consider. Your best best is to do some research and get some ideas of cost. There is a very old and very general rule of thumb that suggests up to 10% of homes value should be spent on a kitchen remodel. I don't know how well that applies in today's world, but it gives you a roughl ballpark to start in. If you don't see yourself in the home for a long time you may be under that but if this is the home you plan to spend quite a bit of time in you may go above that. Research will make all the difference! Good luck!

Thanks Emily and Reico Kitchen and Bath! Very helpful!
Makes sense that too many variables to even try to guess. The rule of thumb of 10% of house value will help guide for considerations. So long term can budget for that. Also - for re-sale value.

Short term - posted another set of this on Houzz in different section - more focused on what could do now -- and the suggestions were to take out the upper cabinets between the 2 rooms if there is enough storage space in what remains. Like that idea a lot as would open up the room - and at least in the short term - have a flow/feel like.

Thank you again!!! Tom

When you decide to tackle a large scale reno, consider repositioning the sink so that is is centered on that great window.

Cheers Tom! Agree again on consideration of storage so you can talk out those upper cabinets. Good luck!

Thanks michammemom! Never would have thought of that! Learning a LOT!!!

Thanks Recio K& B for your ideas and support!