Four Tips to Budget for a Kitchen Renovation

Looking at pictures and choosing the design of your kitchen is the fun and exciting part of your renovation project.  However, one of the most important, and not-so-fun parts, is budgeting for the project.  Kitchen renovations are some of the most expensive projects you may tackle as a homeowner, but it can also be one of the most rewarding.  As a home remodeling contractor in Orlando, we advise that you follow your budget as much as possible to avoid any large issues.  These are a few tips to follow to properly budget for your kitchen renovation.

Choose a Reasonable Budget – and Stick to It

The first step to any home remodeling project is choosing your budget.  Many people save their money for months or years before they even consider starting the project, which means that they will have some cash stashed away.  Talk to your bank and choose a reasonable and comfortable amount of money that you can allocate to your kitchen upgrades.  Once you make this choice, be sure to track expenses and stick to it as best as possible, no matter how tempting it may be to change things.  Last minute changes can cost much more than you assume they will, and they can blow your budget entirely.

Understand the Cost Breakdown

The list of items that you need to pay for adds up quickly when you are doing any type of renovation project, but especially a kitchen.  Kitchens have many features that require you to understand exactly where there money is going to stay on top of your budget.

This is the typical breakdown of kitchen renovations:

• Cabinets – 35%
• Labor – 20%
• Appliances – 20%
• Windows – 10%
• Fixtures, Fittings, and Misc. Expenses – 15%

Set Aside 20% for Surprises

Before you even get started with the renovation, you should set aside roughly 20% of your overall budget in preparation for surprise expenses along the way.  Once the contractors start to rip apart the walls and flooring, they may find things that you need to repair.  If you do not have the room in the budget for these repairs, it can derail the entire project.

List Your Priorities

When it comes to selecting materials and features for your kitchen, you should first start by sitting down and writing a list of your must-haves.  Prioritizing the features that you cannot live without will help you stick to your budget and find room to compromise on the features that are not as important.  From countertop materials to wall ovens to the size of your kitchen island, you need to choose the most important aspects of your kitchen before the renovation.

These are a few tips that you should follow when it comes time to budget for your kitchen renovation project.  When the bills start piling up, and the setbacks occur, you can rest-assured that you are financial prepared for anything.  If you are looking to renovate your kitchen, contact our reputable and experienced home remodeling contractor in Orlando today.