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Planning Your Budget for a New Kitchen

Planning Your Budget for a New Kitchen

A kitchen remodel is something most homeowners do just once. Everyone talks about the big expense of a new kitchen, but few homeowners really understand the costs. Being realistic about your needs and your budget restrictions can make your kitchen remodel go much smoother.

Establish a Realistic Budget

The reality is that a new kitchen is a big expense! Depending on the level of your remodel, a new kitchen can range from $10,000 to $100,000 or more. It’s essential to determine how much you can spend before you begin the project. If you’re planning to move within five years, don’t spend any more than you can recover when you sell the house. Pay close attention to resale values in your neighborhood, and don’t overspend. If you’re planning to remain in your home for a longer time, establish a realistic budget that’s comfortable and attainable.

Track Your Spending

Designing and installing a new kitchen is a complicated job that’s best left to a professional, licensed contractor. It’s important to hire a contractor who understands your needs, your design aspirations, and your budget. A good contractor will work closely with you to make sure your goals are met and your costs stay in line with your budget. As the homeowner, you will likely be involved in choosing flooring, cabinets, countertops, appliances, and lighting. Make sure you choose items that are within your budget and track your spending through receipts and invoices. If you realize that you’re going over your budget, look at less expensive options.

Understand Remodeling Costs

Although your choices will determine exact costs, you can plan for basic costs based on national averages for remodeling a kitchen. As a general rule of thumb, here is a breakdown of costs for a kitchen remodel:

* Cabinets and Countertops – 35 percent
* Appliances – 20 percent
* Lighting – 10 percent
* Flooring – 10 percent
* Fixtures – 5 percent
* Labor – 20 percent

As you can see, new kitchen cabinets are a big part of your budget. Wood cabinets are more expensive that laminated cabinets. If you design custom wood kitchen cabinets greensburg pa with special features, your costs may be higher.