17 May 2017
Simple Tips to Help You Create and Stick to Your Kitchen Remodel Budget
You’ve finally decided to take the leap and remodel your drab, outdated kitchen. If this is your first time taking on a major home renovation project, chances are you aren’t quite sure where to begin.
In most cases, creating a renovation budget is the best way to start because a budget will help you not only understand how much you can spend on each part of the project but also avoid breaking the bank. Here are a few simple tips to help you create a budget for your kitchen remodel and stick to that budget throughout the entire project.
Learning About the Average Cost Breakdown
Every renovation project is different, but there are average percentages for how much of your budget you can expect to spend on each aspect of your kitchen project. To start with, set aside at least 20 percent of your budget for unexpected and incidental expenses.
Leaving a substantial chunk of your budget set aside for unexpected costs will help ensure that you won’t run out of money if you find water damage from a leaky pipe or discover mold behind your existing appliances.
With the remaining chunk of your budget, you will likely spend your money in line with the following cost projections:
- Cabinets: 30 to 35 percent
- Appliances: 15 to 20 percent
- Windows and doors: 4 to 5 percent
- Countertops: 10 percent
- Ceiling and walls: 5 percent
- Flooring: 7 percent
- Labor: 20 percent
Where within the pricing range you’ll fall for each aspect of your kitchen remodel will depend on which aspects of your kitchen are most important to you.
Splurging on What Matters
The above-mentioned breakdown is the average amount you can expect to spend. Another aspect of the budget you must keep in mind is where you 10 want to splurge and where you want to save. This can make a substantial difference in how you create and maintain your budget.
For example, unless you are professional chef, or at least seriously into cooking, it’s best to save money on your appliances. However, keep in mind that you shouldn’t sacrifice your home’s energy efficiency to save money on your budget. Instead, choose appliances that are affordable, work with your design scheme, and are energy efficient.
There are two places where you will want to splurge because the items involved are functional and in most cases are the two main focal points in your kitchen: the countertops and the cabinets. Splurging for custom cabinets and high-end countertops, such as marble or granite, is a smart choice because these items will take the brunt of the wear in your kitchen.
Additionally, unlike with several of the other aspects of the remodel, including the appliances, fixtures, and fittings, purchasing inexpensive countertops and cabinets now with the intention of replacing them in the future is significantly labor intensive and wasteful.
Sticking With Your Budget
You’ve created a realistic budget and are ready to start your renovation. As the remodel continues, it can be difficult to remain on budget. Luckily, there are several simple ways for you to remain as true to your budget as possible:
- Use your extra money wisely. As the renovation continues, if you don’t encounter any problems, you might be tempted to dip into the money you set aside for any unexpected issues. Avoid doing this. Even if something unplanned doesn’t happen today, there’s nothing to prevent the unexpected from happening tomorrow.
- Don’t skimp on quality. To ensure the job is always done right the first time, always hire quality contractors and laborers and spend your money on quality merchandise that will stand the test of time.
- Stick to the original plan. The renovation process doesn’t always go as planned, so you need to try to stick to your original budget and vision as much as possible. Don’t rearrange things because one particular aspect of your project looks like it might not cost as much as you thought it would.
Creating a budget for your kitchen remodel can be a difficult experience. If you have any questions about creating the kitchen of your dreams, don’t hesitate to contact the professionals at Luxcucina.