I had a client who was going to sell her townhome and she wanted to update it. Someone advised her that her bathroom needed updating, so she spent $6,000 completely re-doing it.
By the time I found her she was very frustrated. The home had been on the market, had not sold. I evaluated her property. She need (in order of importance), new carpet, new interior paint, update kitchen - cabinets, counter tops...but she'd spent all of her available money on the bathroom because she had read that is where she'd make the best return.
Have a Realtor analyze your property. Go look at homes that are on the market right now like yours.
Then return to your property and compare. Buyers buy VALUE.
There are additional factors that should be considered: location of the home, its ovarall condition, value of neighboring homes etc.
Our recommendation is to rely on the advice of a local real estate professional that has the answers to these questions and who can best provide you with possible options.
The best response to your question is one that considers much more than to renovate the kitchen or not.......