Remodeling your kitchen adds significant resale value to your home; and one of the most important, yet challenging aspects of a kitchen remodel is figuring out your overall budget.
Today, homeowners have many options to determine the appropriate kitchen remodel or renovation budget. You might know you want new cabinetry, but are not sure how to budget in the cabinetry with new flooring. Should you spend more on lighting or appliances? What about plumbing and electric? These answers all vary depending on the final goals and functionality you want your new kitchen to serve.
Talk to an Expert
Whether you are doing a complete makeover (floors, cabinets, electric, plumbing, accents and appliances) or starting slowly with a few elements (cabinets and flooring), the best method for determining your budget is to talk to an expert – a certified kitchen design professional who can help you establish your priorities within the budget you have in mind. This will help you avoid spending an inappropriate amount in one area or on one item, and not having enough to complete the job.
For example, most kitchen design experts would advise that you spend more on cabinetry than you do on flooring. Chosen well, your cabinets can last for decades. Spending money on quality cabinetry construction with thicker, stronger backs and shelves, wood boxes and dovetailed drawers will benefit you in the long run.
Budget Guidelines
Overall, experts advise that your kitchen remodeling budget shouldn’t exceed 15% of your home’s value. Of this budget, at least one half of the cost should be designated for cabinetry. Another 15% can be expected for appliances, flooring and other goods like lighting, plumbing, fixtures, etc. The remaining 35% includes the costs of labor, design, contracting services, permit fees, etc.
Self-Service Tools
Should you prefer to budget your project without the help of an expert, there are a number of kitchen budget tools and calculators available for your use. We particularly like Fine Homebuilding’s new calculator. Here you can estimate your dream kitchen upgrade by selecting from different countertop and cabinetry choices, and mix and match by price and material. Another good source for kitchen remodeling information and tips is The National Kitchen & Bath Association (NKBA).
Planning is Key
To sum it up, planning ahead is crucial to a successful kitchen remodel. You should know exactly what you want and how much you want to spend before the project begins. Being very specific in your planning is the best way to avoid blowing your budget and enjoy the kitchen of your dreams.
Tags: kitchen budget, kitchen cabinets, Kitchen Design, kitchen planning, kitchen remodel, kitchen remodeling, merillat, merillat cabinets