Did you know the national average kitchen remodel cost is between $12,567 to $34,962?
Based on these numbers, it’s easy to figure out remodeling a kitchen does not come cheap. If you’re in the process of remodeling your kitchen, we’re here to help.
Read on to learn how to budget for your next kitchen remodel project.
- What is the Extent of Your Project?
Before you start planning a budget for your kitchen renovation, you need to determine your project’s extent. Do you plan to gut the entire kitchen? Do you want to do the work yourself?
Are you simply replacing old appliances and painting the cabinets? Your budget will be significantly different if you plan to paint the cabinets than if you plan to change the kitchen layout.
- Decide Where Your Budget Will Go
Remodeling a kitchen is a big undertaking because there are many things you need to budget for. Besides picking out kitchen cabinets, you also need to think about the floors, lighting, paint, etc.
To get an idea of what you will have to spend on each thing, follow this sample breakdown:
- Labor = 20 to 35 percent
- Cabinets = 35 percent
- Appliances = 20 percent
- Fixtures = 5 percent
- Fittings = 3 percent
- Misc = 7 percent
Depending on your needs, you might choose to adjust this breakdown to fit your plans.
- How Much Can You Spend
Before you start picking backsplashes, sit down, and take a look at your finances. The last thing you want is to go into debt in the process.
Make sure you settle on a budget that you’re comfortable with, and that won’t make a significant dent on your savings account.
- Break Down the Materials
The better prepared you are before you start your kitchen remodeling project, you will lower your chances of unexpected surprises.
As we mention before, there are plenty of moving pieces when it comes to kitchen upgrades. Start by creating a spreadsheet and list all of the items you need to remodel your kitchen.
Make a list of every single item you can think of, such as appliances, flooring, light fixtures, garbage disposal, countertops, upper and base cabinets, kitchen faucets, etc.
Next to each item, you should add a range of price points that fit within your budget. Try not to add items that you cannot afford to the list.
Once you get a breakdown of every item’s cost, you can decide where you can splurge. For example, if state of the art appliances a more important for you, then you can settle for more affordable cabinets.
- Set Aside Money for the Unexpected
No matter how much planning you do, there’s a big chance you will encounter a few unexpected things. If you have an older home, you never know what you will encounter once you rip off the cabinets.
In the worst-case scenario, you will discover the pipes are rusted, water damage, and electrical wiring is outdated. If this happens, you might have to say goodbye to your marble countertops.
It’s essential you set aside at least 20 percent to handle any unexpected surprises.
- List of Priorities
When it comes to kitchen renovations, owners have different priorities. If your spouse wants the latest appliances, but you want granite countertops, chances are someone will have to compromise.
Before you start the kitchen renovation process, write down your must-haves in order of priority. Getting garbage disposal might be higher on your list than a built-in wine rack.
Your list of priorities will look different if you’re looking for function rather than only aesthetics.
- Contractor Process
Most kitchen renovations will require a contractor’s services, especially if you plan on taking down walls. Although you might want to call contractors to get quotes as soon as possible, it’s important you know what you want before you do so.
A contractor will give you a more accurate quote when you’re able to tell them about your vision.
Once you are ready to tell a contractor what you want, you’re ready to pick up the phone. To find the best contractor for the job, start by asking your friends and family for the names of any contractors they’ve worked with before.
You can also conduct online research to get a few contractor options in the area. Before you settle for a contractor, make sure you talk to a few of them and get several quotes.
- Look for Ways to Reduce Your Costs
If you want to stay within or under your budget, start to looks for ways to cut costs. For example, if your kitchen cabinets are in excellent condition, they might only need a new coat of paint.
Rather than replacing all of the cabinets, try sanding them and changing the color. Similar, if your appliances are in good shape, you might be able to leave them and simply replace the cabinets.
You might also be able to save a few hundred if you paint the walls yourself.
- Don’t Add Last Minute Extras
When you’re in the middle of remodeling your kitchen, it might be tempting to deviate from the plan. Let’s say you are half-way through the remodeling, and you see a chandelier that’s $200 over your budget, but it will match better with the backsplash.
While it might make your kitchen look better, changing things at the last minute can really mess up your budget.
- Plan For Your Meals
During the kitchen remodel process, chances are you won’t be able to prepare home-cooked meals. Because you could end up getting takeout for a few weeks, you should also budget for this extra expense.
Getting takeout for multiple people every night could add up, so it’s important you add it to your budget.
This is the Average Kitchen Remodel Cost
Now that you know more about the average kitchen remodel cost and how to budget for one, you’re ready to get the kitchen of your dreams.
Before you start the process, start by deciding how much you can afford, make a list of items you need, get quotes from contractors, and set a list of priorities.
If you enjoyed this article and would like to read more helpful tips, check out the rest of our blog.
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