Deciding to remodel any room of your home is a major undertaking–but deciding to remodel the kitchen is an even more intimidating project because many families spend so much time in the kitchen every single day. But, that’s why its important to make this room all that you want it to be. If you’re going to spend a lot of time there, it might as well be an enjoyable and pleasant space. How can you create a kitchen remodel budget that includes everything you want? More importantly, how can you stick to this budget?
Not everyone has thousands of dollars to throw at a remodeling project, so most homeowners want to do all that they can to pick a kitchen remodeling budget and stay within that budget throughout the remodeling process. This can often prove tricky, especially if surprise expenses come up or if homeowners decide they want to splurge with more expensive items further along in the remodeling process.
However, creating a budget and sticking with it is not impossible; it just takes a little research, planning, and discipline.
Consider the following steps when trying to come up with a kitchen remodel budget and when you’re struggling to stick with that budget.
1. Do Extensive Research On All of Your Remodeling Options.
There are many options out there when it comes to cabinets, flooring, light fixtures, tile, and appliances. That’s why it’s important to become well-versed in what is available on the market and what items you’d like to employ in your own kitchen.
It helps to come up with a sort of “wish list” to determine what styles, models, and colors you like. Even if the items on this list are more expensive than your budget allows, keep them on the list–you can always find something similar but more affordable down the line.
2. Consider What Items You Care About the Most.
This goes along with the first step; when doing your research, carefully consider what areas of the kitchen need remodeling the most.
Perhaps you’re okay with the light fixtures but can’t stand the cabinets anymore; in that case, you may decide that the light fixtures can stay as they are–or you can go with a cheaper option–and devote more money to replacing the cabinets.
Be honest with what you can live with and what areas of your kitchen you really, really want to see changed.
3. Decide on a Kitchen Remodel Budget for the Whole Project.
You will eventually need to decide on a number that will be your working budget; it will take careful planning and discipline to stay within this number, but it’s certainly possible.
Be careful, also, to come up with a kitchen remodel budget that will allow you to spend money on the project that is proportionate to the worth of your home.
Many experts recommend 6-10% of the home’s overall cost should go to any major remodel like the kitchen. Otherwise, you may under-remodel your kitchen and it won’t add to the value of your home, which will be of great concern should you ever decide to sell your home.
4. Plan for Unexpected Costs
Owning a home can be full of surprises; so when you’re remodeling your kitchen, you should plan for unexpected costs by budgeting a bit of money towards any unforeseen costs that may arise.
This will be one of the best ways to avoid going over your budget. You never know when there will be an unexpected electrical or plumbing problem that needs fixing, or when labor costs will be a bit more than expected.
5. Know What Items Will Cost You the Most
Different parts of your kitchen remodel will take up varying percentages of your budget. Know what will require the most money and keep this in mind as you plan accordingly. HGTV published a helpful list of average percentages that various items will take up in a kitchen remodel budget, which is as follows:
- Cabinets: 35 percent
- Labor: 20 percent
- Appliances: 20 percent
- Windows: 10 percent
- Fixtures: 5 percent
- Fittings: 3 percent
- Other: 7 percent
Keeping this breakdown in mind when planning your remodel will help you know what parts of a project will take up the most of your kitchen remodel budget. This will in turn help you be more disciplined about how much to spend in each area.
6. Complete Projects On Your Own, If Possible
Another way to keep your kitchen remodel budget lower is to complete certain parts of the job on your own. This is only if you feel you are competent in certain areas; trying to contribute to the remodeling process without proper skill or knowledge may only slow up the process and cause professionals to have to fix your mistakes.
However, you could certainly help with taking out old fixtures like cabinets, which would save on labor costs. Further, you may be able to complete your own backsplash or install your own light fixtures, saving you money on labor costs.
Though it may seem like a daunting task at the beginning of your remodeling project, it is entirely possible to stay within your budget as you work to remodel your kitchen. It takes a bit of research and discipline, but doing so will give you more financial peace of mind as you complete this project.
Remember to do a great deal of research beforehand to become familiar with the materials, styles, appliances, and colors you like and want to use; you will also be able to determine what parts of the kitchen need the most attention during this phase.
Set one budget and be firm in staying at or below that number, and remember to plan for unexpected costs as you’ll likely face at least a few. Lastly, consider completing parts of the remodel on your own, such as installing fixtures or tiling, as this can save a great deal on labor costs.
Following a kitchen remodel budget closely may prove challenging throughout the remodeling process, but once you step back and appreciate the finished project without having spent more than you intended, the effort will have been more than worth it.