How To Budget For a Kitchen Remodel

Kitchen Remodeling Charlotte, NC

Why budget for a kitchen remodel? In every country, and every culture, the kitchen is the heart and hub of the home. It’s where family and friends come together to eat, socialize, and express their love for those that are important to them.

Given its importance and prominence, it shouldn’t be surprising that kitchen remodels are easily the most expensive home remodeling project. There are a number of things to account for when budgeting for a kitchen remodeling project.

Budgeting For a Kitchen Remodel

First and foremost, come up with a feasible budget. No one knows your finances, and what you can, or can’t afford better than you. Figure out what’s most critical for you in terms of what you’d like to accomplish with your remodel; do you want to upgrade your appliances? Do you want more counter space that you could achieve by adding an island to your layout? Do you want to replace your cabinets, or repaint them? Once you have a clear idea of what’s most important to you, then creating a budget will be much more manageable.

Kitchen Renovation Costs

There’s a ton of variability when it comes to how much a kitchen remodel will cost, and it all depends on what you’re aiming to accomplish. On the low end, something in the neighborhood of $5,000-10,000 could be expected, but spending $30,000 to upwards $80,000+ is not uncommon. How much you spend will be determined in large part based on your intentionality. Many homeowners are interested in remodeling their kitchen as a selling point, and view it as a way to increase the value of your home. It’s important when considering a kitchen remodel to contemplate: how long do you intend on staying in your home? If it feels like you’ll be leaving in five years or less, then your approach will differ from someone who’s planning on starting and raising a family in their current home.

Considerations Of Remodeling Your Kitchen

Those that plan on staying in their home should naturally cater their remodel to what they feel are their most pressing needs/desires, and what they want out of their kitchen, both in the long and short term. Those that feel the sale of their home is somewhere in their not so distant future, will want to approach their remodel in the most effective way to maximize their investment in the value of their home, i.e., what could be a key selling point for your home that will catch potential buyers’ eyes, provide value, and set your home apart from dozens of others?

When figuring out your budget, the two most common factors that will either drive costs up or down will be: are you going to replace, or fix and refurbish your current kitchen amenities? And secondly, when looking over your remodeling plans, are there any areas that pop out to you as things that you could potentially do yourself?

Cabinets are typically the most expensive part of a kitchen remodel, so when approaching your project, think about whether you want to entirely get rid of existing cabinets, or give a facelift to the cabinets that you have by either painting, or re-facing them. Additionally, consider whether or not your current appliances need to be swapped out for new devices, or if they can be worked on, fixed or upgraded.

Kitchen Budgeting Steps

  • Decide how much you want to spend, and stick to it
  • Know how the costs will break down
  • Set aside 20 percent of your budget to handle the unexpected
  • Make a list of your renovation priorities

When possible, figure out what elements of your kitchen remodel you could potentially work on yourself. If you are able to eliminate professional help and services for one, or multiple portions of your remodel, then your costs could significantly drop. If you aren't an avid DIY'er though, consider calling our kitchen remodeling contractors for the job.

Aldo's Restoration & Construction provides high-quality kitchen and home remodeling services throughout Charlotte, NC. We offer a one-of-a-kind experience and free estimates. Contact us today to get started or call us directly at (704) 607-9783.