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?
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
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!
Giveaway: One (1) eBook copy, available Globally, and One (1) Print copy, available to the US and Canada Only. Leave a comment with your name and email and if you are USA/CAN or INTERNATIONAL, thank you very much for stopping by!
Thank you for sharing this wonderful post! It is always good to have a realistic plan of what your project will cost