Budgeting for Your Kitchen Remodel

October 1, 2022 Published by Leave your thoughts

The spring and summer seasons are the best time to start thinking about that kitchen remodeling project. A significant consideration you need to make is to determine how much your project costs.

When you go through magazines and online sites like Pinterest showing kitchen and remodeling pictures, one of the most common questions that rings in your mind is how much each project costs and whether you can afford it. However, managing the amount you spend on your kitchen remodel can help you run the project smoothly without spending too much.

How Much Should a Kitchen Renovation Cost?

When it comes to kitchen remodeling, every project is different. That means the cost can differ based on the features and ideas. Experts estimate a kitchen renovation costs around 15% of your home’s value. So, if your home is valued at $200,000, your budget for renovating your kitchen is approximately $30,000.

Here is how you can allocate money for different elements in the kitchen remodeling project.

  • Cabinets: 29%
  • Countertops: 11%
  • Appliances: 17%
  • Electrical and Lighting: 10%
  • Plumbing: 6%
  • Wall covering: 5%
  • Floor covering: 5%
  • Labor and installation: 13%
  • Miscellaneous: 4%

How to Budget for Your Kitchen Renovation

Kitchen renovations differ from one home to another as each has unique details. It also boils down to the nature of the renovation. For instance, if you want to add space to the current kitchen, you will likely have a bigger budget than someone looking to change cabinets or flooring.

How you budget also depends on what you intend to achieve at the end of the project. For instance, if you want to add more storage through cabinets, you’ll likely want to spend more on cabinetry and other storage ideas. If you’re passionate about cooking, then the countertops, appliances, and overall working space will probably be your priority.

In other cases, you may be renovating your kitchen because you intend to sell your home soon, which typically helps increase the resale value by up to 45%.

Overall, you want to consider the project details, including the main reason for remodeling your kitchen and budget appropriately. If you need help, you can always consult your remodeling contractor.

How to Save Money on Kitchen Remodeling

Modern kitchens are not just functional; they’re bigger and fancier. While it’s possible to specialize on a small budget, it’s always critical to find ways to cut costs on such a massive project. You can:

Start Shopping Early

Shop for appliances when they’re on offer. Take time to find outlets with significant discounts and place your order. If the discounts are welcoming enough, get all your appliances from the same outlet and strike a deal that allows you to cut down your cost. For instance, you can get free delivery or get one appliance for free.

Get Professional Services

It will cost you more if you hire an unskilled contractor. A professional contractor has experience handling such projects and will likely see faults even before they happen, which saves you money in the long term.

Help When You Need It

Instead of hiring an extra person to handle tasks that you can do, why not do it yourself? Managing your own project from inception to competition can be fulfilling, but it depends on whether you have the time, right skills, and tools.

Why not hire a pro to remodel your kitchen? For all your kitchen remodeling services in Midland, MI, contact our experts today!

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