Sticking to a Budget when Remodeling your Kitchen
Remodeling your kitchen can be a daunting and expensive task. However, by following a few simple guidelines, you can ensure that your kitchen remodel stays on budget.
Dan DiClerico, HomeAdvisor’s smart-home expert, offers the following advice for homeowners looking to renovate their kitchen on a budget. First, he recommends setting aside 5-15% of your home’s value for the project. So, if your home is valued at $300,000, you should expect to spend between $15,000 and $45,000 on the kitchen alone.
In addition to knowing how much you’re willing to spend, it’s important to get an idea of what contractors in your area are charging for similar projects. HomeAdvisor’s “True Cost Guide” includes a tool that allows users to enter their ZIP code and estimated home value to see how much other homeowners in their area have spent on similar projects.
When meeting with contractors, DiClerico advises creating a budget beforehand and sticking to it. He warns against being swayed by the contractor’s estimate; after all, they’re the experts and will likely try to upsell you on certain features or materials. By following these simple guidelines, you can avoid overspending on your kitchen remodel.
A kitchen remodel is a big investment. By taking the time to do your research and create a budget, you can ensure that your kitchen remodel stays on track—and doesn’t break the bank.