How Much Should You Spend on a Kitchen Remodel?
A kitchen remodel is a big investment— But it doesn’t have to break the bank. Here’s what you need to know about budgeting for your kitchen remodel.
Labor vs. Materials
Labor should account for 15 to 30 percent of the cost of a kitchen remodel, with materials accounting for the remaining percentage. This is only an estimate because each remodel is unique. The final cost will be determined by the size of your kitchen, the materials used, and the amount of labor required. Speak with a contractor to obtain a more precise estimate for your specific project.
Staying on Budget
You can have the kitchen of your dreams without breaking the bank if you plan carefully and stick to a reasonable budget. Here are a few tips for staying on budget:
– Set a realistic budget and stick to it. Homeowners often go over budget because they get caught up in the excitement of choosing new cabinets, countertops, and appliances. It’s important to stay focused on your overall goal and resist the urge to splurge. There will be plenty of time to add those finishing touches once the major renovations are complete.
– Shop around for the best deals on materials and labor. Get multiple quotes before making any decisions.
– Consider cosmetic changes instead of major structural changes. If your kitchen layout is practical and you’re happy with the basic layout, there’s no need to gut the entire room and start from scratch. You can save a lot of money by making cosmetic changes like painting the cabinets, installing new hardware, or adding a backsplash.
– Do some of the work yourself. If you’re handy and have some basic carpentry skills, you can save even more by doing some of the work yourself. Just be sure to get an accurate estimate of how much labor will be required so you don’t end up spending more than you planned.
A kitchen remodel is a big investment, but with careful planning, it doesn’t have to break the bank. Keep these tips in mind when budgeting for your own kitchen remodel and you’ll be sure to stay on track— without sacrificing your dream kitchen!
