What budget should homeowners have in mind for an everyday, average kitchen renovation?
Setting a budget for a kitchen renovation is one of the toughest parts of the whole process and one that is top of mind for everyone whether their budget is modest or generous. But it’s a very difficult question to answer if not impossible!
Instead of a kitchen, imagine we’re talking about a car and ask the same question: What budget should a consumer have in mind for an everyday, average car?
First, the words,” average” and “everyday” are very subjective. They mean so many things to different people. For a car, you may need an average 4 wheel drive SUV, whereas to someone else, average might mean a sub compact without power windows or CD player. The same goes for a kitchen. Except with a kitchen, there are many other factors to consider. These include:
What can you actually afford to spend right now?
Is your job secure?
Are you planning to stay in your house less than or more than five years?
Does the neighborhood have amenities and conveniences that you are happy with?
Would a potential buyer consider your neighborhood a good one?
Will you need financing? And are you likely to get it if you do and how much do you think you’ll qualify for?
Is there any other part of the house in desperate need of repair before the kitchen is done?
These are all the questions you should ask yourself before you even start looking at kitchen cabinets and materials. You need to use the items above to come up with at least a ball-park budget and THEN start shopping around for products and services to get it done.
Start with a list of things you think you need. This might include new things like:
*Flooring *Lighting (ceiling, decorative and undercabinet)
*Appliances * Cabinets
*Cabinet knobs/handles *Counter top
*Backsplash tile *Sink and faucet
*Window coverings *Table and chairs
*Construction and installation labor *Deliveries
Start with a kitchen showroom that you’ve seen and like the look of and ask them how much an average job with THEIR company would cost including as many items from the list above as you think you’ll need. If their number is in your ballpark, you may want to make an appointment with them to go into more detail. At that point, you should share your budget with them so they will not “over-design” your room. You don’t want to fall in love with something you can’t afford. If their price is marginally too high, work with them to see what you can remove from their offering without making major compromises to the design.
Coming up with a budget is not easy, but it’s the homework that you must do before you begin. Starting a kitchen renovation without a budget is like trying to get to Kansas by clicking your heels three times. And there’s only one person in history who was able to do that, and it wasn’t you!
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