The kitchen serves as the heart of many homes. It’s where people usually congregate and exchange ideas or stories while they wait in anticipation for fuller stomachs. Since we spend so much time in there, it’s not surprising we come up with beautiful pictures of how our kitchen should look. A lot of homeowners decide to give their kitchens a facelift for various reasons after mulling over a variety of options.
But how much does it cost to remodel a kitchen anyway? The average kitchen remodeling project costs $19,858 with people generally spending between $11,186-$28,651 on their kitchen masterpiece. However, you should think about all of the monetary components that go into a project like this so you’re well prepared. Costs to Consider While Remodeling your Kitchen
- Figure out how much you can/want to spend and stay strong! Spend what you think you’ll get back when it’s time to sell. Will this investment pay off? If you’re not moving any time soon, just think about what works best for your family’s needs while staying away from current trends. Furthermore, don’t over do it. You don’t need a fancy kitchen in a middle-class neighborhood. Otherwise you might not get your money’s worth at selling time.
- Get the Basic Breakdown Learn how much costs are in relation to your budget. For instance, labor and appliances usually account for 20-35% while windows make up 10% of the cost.
- Get Your Priorities Straight Make a list of the things you definitely want for your new kitchen. It’s best to spend a little more money on floors and cabinets since these will get the most abuse. You’ll want to stick with solid wood cabinet faces and porcelain tile floors. It’s also not necessary to get high-end appliances. However, you should still compare prices on everything to make sure you are getting the best deal.
- Are you going to stay in your home during this process? It might not be a bad idea to sleep somewhere else during a kitchen remodeling. In fact, it would be less stressful not hearing all that commotion and the occasional “whoops” during construction. Factor in hotel costs or call up a nice relative and ask for a place to stay.
- Eating Out Since you don’t have a functional kitchen, you’ll probably need to eat out a few times. Make sure you factor in these costs to your budget as well. However, you can always use your basement as a makeshift kitchen if there’s a sink and stove available to save money.
- Have 20% of your Budget Set Aside for Surprises Unfortunately, surprises do happen when remodeling. You might encounter faulty wiring or rotted floors that need tending, that’s why it’s important to have some money for those “uh-oh” moments.
- DIY Remodeling There are definitely some aspects of remodeling your kitchen that you can do yourself to cut costs. For example, painting and demolition are fun and won’t require labor expenses.
- Stay True to Your Budget We can’t stress this enough. If you know how much you want to spend then stick with it. It’s very easy to deviate from your initial goals while watching costs go up. Make a spreadsheet of your spending so you don’t get carried away and caught off guard with the final bill.
Remodeling a kitchen is definitely an undertaking both emotionally and monetarily, but can offer plenty of rewards for the present and future. You and your family can enjoy a new take on a favorite room while resting easy that the value of your home has certainly increased. Consider all budgetary aspects of the project and you’ll be prepared for anything.