How to Set and Keep to Your Kitchen Remodel Cost and Budget !
How much should my kitchen remodel cost/budget be? The costs will depend on what sort of renovation you are doing. This is determined by your motivation:
Are you renovating to have the dream kitchen you have always wanted? This would mean that you are prepared to accept a larger kitchen remodel cost to spend more on the elements and materials that you have decided you would like to have in your ideal kitchen. However, there will still be a ceiling on what you are prepared to spend, so you ought to cost your kitchen to get an idea of what your remodeling budget will be. There are 2 ways to go: to steps in working with a designer.
Are you remodeling to update the kitchen because you are selling the house? If this is your motivation, you will be doing a different sort of renovation. First decide whether you will be completely gutting and reconstructing the kitchen, or doing a 'cosmetic makeover'. If you don't absolutely have to change the construction of the kitchen, then you should opt for the cosmetic makeover as this will be far less expensive. Here, you can consider leaving the cabinets in place and refacing or painting them, perhaps redoing the flooring and giving your kitchen a sparkling new backsplash. Go and price the new hardware you will be needing and compare the prices of different materials. Then ask contractors to come and look at the kitchen space and discuss any changes you want to make, giving you approximate quotes for their work. Now you'll have some figures to work with, giving you a cost for the different sorts of remodeling that you are thinking about. You may decide that after all, you will be able to afford to pull out the old kitchen and install a glorious new one!
Some pitfalls of which to be aware: Keep the kitchen expenditure in line with the house value, and make sure that it keeps the renovation at a level consistent with the rest of your home. It is often said that your kitchen should represent about 15% - 20% of the value of your house... therefore if your home is worth about $300 000, then your kitchen remodeling budget should be about $45 000 - $60 000. It will be worth it. Get all the prices and quotes you can. Ask estate agents and realtors to give you an idea of what your home's value will be after you've done the work you plan to do. If repainting and refacing cabinets is enough, and you aren't going to recoup the money spent on a more complex remodeling, then don't spend the extra money. So, set your budget, then add 20% for unforeseen extras, and keep within this range. |
