Trying to decide on an appropriate budget for your renovation project is one of the most stressful, mind-boggling pieces of remodeling for many homeowners. It’s difficult, if not impossible, to predict the exact cost of a renovation due to the fact that every single project involves unique features, needs, quirks, and problems. Base materials range broadly from the basic to the luxurious and installers may sometimes charge different rates for similar services.
While it may not be the most pleasant part of your project, considering your budget early on is the smartest way to tackle your renovation. Knowing what you have to work with will inform every decision you make, from your building materials to the overall layout of your kitchen. We’re happy to offer the following info to help get you started.
Where To Begin
The average, medium-sized kitchen remodel project costs between $20,000-$50,000. A low-budget remodel may run closer to $5,000, whereas a high remodeling budget is anything upwards of $30,000.
Several factors come into play when determining how much a kitchen renovation costs, including your location, the materials you use, the amount of construction needed, and your budget. For example, renovating an entire kitchen – which might involve gutting it and taking down walls – will cost more than simply changing out cabinets and adding an island. Generally speaking, cabinets will take up a little more than a quarter of your budget, followed by new appliances at just under 20%, and countertops at about 15%. If your redesign involves totally replacing one of these three pieces, be sure to budget accordingly.
Once you’ve determined how much money you’re willing to spend on your kitchen remodel, it’s time to start planning. If you’re working with a limited budget, you’ll need to be more strategic in your choices; however, even with a limited budget, there are still a number of ways to make your kitchen look and feel more luxurious.
It’s also a good rule to set aside about 10-20% of your total budget for unexpected expenses. Home remodels often reveal all sorts of strange surprises; if you’re ready for them before they come up, your renovation will be able to move along smoothly in the face of adversity.
But what should you do if your home renovation project uncovers some unexpected costs? Here are a few tips:
- Talk to your contractor: If you have a good relationship with your contractor, they may be willing to work with you on finding ways to cut costs. They may be able to offer suggestions for alternative materials or methods that can save you money.
- Get creative: If you’re a DIYer, there may be some ways you can save money by doing some of the work yourself. For example, if you’re handy with a paintbrush, you might be able to save on labor costs by painting your own walls.
- Shop around: Don’t be afraid to compare prices from different vendors. You may be able to find a better deal on materials if you take the time to shop around.
- Be flexible: If you’re willing to be flexible on your renovation plans, you may be able to save money. For example, if you’re willing to wait a few extra weeks for a particular item to come back in stock, you may be able to get it at a lower price.
Whatever project you have in mind, we’d love to help! JC Smith is highly experienced in home renovations and additions of virtually every type. Contact us HERE for a free consultation plus to get more info on how we could work together!