How to Budget for A Kitchen Remodel
Kitchen remodels are exciting but are often highly anticipated. The weight of the total cost worries you just from the thought of beginning the month(s)-long project. Our customers often hesitate to begin creating their dream home due to the financial stress and not knowing where to begin. Well, ease your mind and let us do the planning for your home renovation! Follow these easy steps on how to budget for your next kitchen remodel to alleviate the stress.
1. Create the budget
The first step in creating a budget is … to simply do that! You need to set a foundation and structure of how much you, not only, would like to spend but how much you are eligible to spend. Here’s a few tips we suggest considering to reach your end goal of creating a well-planned budget:
- Consider how you are going to shop for your remodel
- Are you contracting your own remodel? In other words, will you have someone hired to do the labor, purchase materials and plan the design of your space?
- Consider a contingency fund
- If you plan to hire a respective party to assist in the remodel, we suggest you plan to spend an additional 20 percent on a contingency fund. This is a safe bet to take to secure your project and the actions taken during the process. Often times, many surprises arise during renovations and you will highly appreciate when you have this security under your belt!
2. Decide what takes priority
Is your kitchen in desperate need of a remodel? Are your renovations planned around the fact that your kitchen is worn out and is simply limited to functioning properly? If so, then functionality needs to precede over style! Visit our showroom to discuss with a highly experienced professional regarding what materials you should incorporate into your new home.
If your goal is to modernize your home and re-arrange the whole aesthetic and feel of your place, it is important to do your research! Find the colors, patterns and materials that speak to you and your design preference. Remember – sometimes the more expensive items resemble high quality upgrades that may be beneficial in the long run! Consider spending a few extra bucks on durable and valuable pieces.
3. Break it down
The next step is to break down the budget into categories. How much will be spent on what? We like to suggest following The National Kitchen & Bath Association‘s budget break down list. Here it is below:
- 30 % for cabinets
- 14% for appliances
- 10% for countertops
- 5% for lighting
- 4% for plumbing fixtures
- 2% for paint
- 1-2% for tiles
The remainder of the budget will need to be allocated towards contractors and disposal costs.
4. Find the best supplies
This is our favorite part! We love browsing through the collections of sinks, countertops, mirrors and flooring to find unique styles that speak to us. It is important when re-designing a home that you find pieces that you will like for years to come. If you are overwhelmed by the various options provided, speak to a showroom representative to better assist and organize your thoughts. Our trained professionals are eligible to narrow down your options that best fit in line with your budget, priorities and design style.
5. Don’t forget hidden costs
Last but not least, don’t forget about the hidden costs! These costs include things such as removing the food, appliances, furniture, and other items within your household prior to the renovation process. Most people like to be assisted with this to get the ball moving on the exciting remodel.