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The cost will always be your determining factor for the extent of your complete kitchen renovation on a budget. However, our crew will be your best partner in making the most out of your money in making minor and major upgrades inside your kitchen.
Without any delays, let’s check out these simple ways on how to properly budget your kitchen renovations.
Understand what you want to include in your full kitchen remodel
Indeed, there are more than a hundred ways to splurge beauty and upgrade the functionality of your little kitchen. Before you call your nearest local remodeling contractor, make sure that you have done your homework for your modern kitchen remodel.
By doing this, you can save time and cost for consulting with contractors on what you can do in your pantry. Nevertheless, our interior designers and consultant will be at your disposal to give free advice on what we can do for your projected budget.
Determine how do you plan to finance your kitchen makeover
Planning what to include in your full kitchen remodeling and its possible cost is your first step. After, you need to explore the various ways of financing your renovation. Some of the common financing methods include getting a loan (which is tax-deductible), personal savings, and refinancing.
You can combine different financing options such as getting a loan for a certain percentage of the overall estimated cost, while the rest will be sourced from your personal savings. Likewise, be sure to ask your contractor what are their preferred payment modes and if they can help get you a good financing option.
Further, always look at the loan fees and interests when planning to get a loan or refinancing, so you won’t be a victim of very expensive rates.
Determine your cost breakdown
It is also wise to have good knowledge about the cost breakdown for your fast kitchen remodeling. Why? So, you will know which part you need to cut down and which one to raise and prioritize. Below is an estimated breakdown for a standard kitchen remodeling.
- 1-3% Permits and licenses
- 2-5% Demolition
- 5-7% Piping works
- 6-8% kitchen and sink countertops
- 7-9% of Electrical works
- 8-10% Kitchen flooring
- 10-15% New appliances
- 20-25% Labor
- 30-35% Kitchen cabinetry
Prepare an extra 15%-20% of your total cost for unexpected works
It is quite unavoidable that you will slightly go over your budget for upgrading your kitchen. Therefore, it is wise to prepare an extra budget of 15%-20% based on your total project cost for home kitchen remodeling.
In line, this additional cash will be allocated for unexpected repairs and price increments. There will be instances when the contractors find out that your electrical wirings are all worn out, or the water tank of your dishwasher is rotten.
All these problems will be uncovered during the demolition stage, and you want to be financially prepared for these unforeseen repairs and replacements.
Always bear in mind to stick to your financial plan
We always want to emphasize the obvious for our customers, which is sticking to your budget for re-doing your kitchen. You can have an allowance of around 15%-20% of your estimated cost, just in case some materials do not have a cheaper alternative.
Based on the industry’s average, your expected cost for a whole kitchen upgrade is between $50,000 to $80,000. Nevertheless, you can always talk to us if you want to save more by finding a cheaper alternative which is still of decent quality.
Consider Standard Options When Necessary
There is nothing wrong when you want a customized cabinet or kitchen island for your renovation, as long as you are still sticking to your budget. However, if it’s too much, then go for the standard or prefab options available in the market.
By doing that, you are saving extra money for other important things which needs urgent attention.
Always Consider The Top 3 for Kitchen Remodeling
Indeed, there are several things to cover in your full kitchen makeover, but never forget the top three things you need to prioritize – cabinets, countertops, and appliances. These three aspects entail a huge chunk from your budget, so you might want to settle these first before going to other areas for updates.
Think where you want to stay while the renovation is going on
Generally, you have two options for this – staying inside your house or renting a place to stay for a while until your small kitchen remodeling is complete. You need to talk to your family and brainstorm about the most cost-efficient decision for this concern.
Likewise, you have to plan where to store those things inside your kitchen for safekeeping, as things will get messy during the renovation process. Fortunately, our crew and management are more than willing to help you decide and plan for this dilemma.
Moreover, we are going to observe safety protocols during demolition and all other phases for a standard kitchen remodeling. Never hesitate to talk to us, so we can plan.
Be Prepared for Meal Costs
Let’s face it, if you plan on staying inside your house during the kitchen renovation, you won’t be able to cook so your best alternative is ordering food and eating outside (restaurants or fast-food chains).
Consequently, you will feel the added cost for your daily meals, unless you can find ways to prepare a temporary area where you can cook near your house. You need to consult this with your family so that your finances will go smoothly.
Find A Reliable Local Contractor
It goes without saying that your kitchen remodeling contractor will also influence the cost of your small kitchen renovation. For you to choose a good private contractor, you can either ask for referrals or search online. Either way, you need to assess and examine their credibility and track record in doing these projects.
At Mega Kitchen and Bath, we are always committed to giving you the best value for your renovation investment. You can schedule an in-house inspection and estimate with us so that we can draft a detailed proposal for your planned kitchen makeover.
Our designers will create a 3D model out of your preferred designs and materials, so we can better visualize the outcome. Moreover, for you to save more, we can find cheaper alternatives as long as it is good and you like it.
If you have further questions about your kitchen remodeling, contact our office today. We are more than willing to be your best partner for this life-changing event in your family. Call Us.
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