On Lifestyle today, let’s do something about budget friendly kitchen remodeling tips.
When deciding what areas of your home to renovate, it’s important to opt for projects that will offer a great return on investment. Kitchen renovations are not only one of the most popular home remodeling services, they’re one of the most lucrative when considering adding value to your home.
Kitchens tend to be one of the most highly trafficked areas of the home. Adding a new, fresh-faced kitchen can completely transform your living space, not only adding value to your daily life by granting you an improved entertainment and congregation space for you and your family, but also down the line as it also adds resale value to your home.
According to Home Advisor, people are spending on average around $34,000 on kitchen renovations, but expenses can easily pile up well past this number. In order to mitigate costs, stay on budget, and ensure you’re setting yourself up for a great return on investment, we’ve put together 5 budget-friendly kitchen remodeling tips sure to help keep costs down during your remodel.
Budget Friendly Kitchen Remodeling Tips
- Interview Several Contractors
This is no “brainer” when it comes to budget friendly kitchen remodeling tips.
With all the money you’re preparing to spend on the renovation of your kitchen, it’s important to interview and vet several contractors. It’s recommended to stay local with your contracting choice. Local contractors will be much more accessible, should anything ever go awry during reconstruction they’ll be able to resolve issues quickly. The National Association of The Remodeling Industry provides a list of contractors available in your area on their website, and you can always reach out to friends or neighbors to see if they have recommendations.
During your interviews, be sure to ask lots of questions, such as how long they’ve been in the business, what would their estimated time frame be, if they work with a team, how big is it, and other ideas of this nature. Once you’ve received quotes and any other pertinent information you can make an educated decision about which contractor best suits your needs and fits your budget.
2. Focus on Renovations with High Returns
One key thing you must follow for a budget friendly kitchen remodeling tips is focusing on high returns.
To maximize your return on investment, you should seek to renovate areas of the kitchen that yield a high return. Often focusing on minor improvements rather than a huge overhaul of changes can be more beneficial. Upgrading appliances to the latest energy-saving tech or replacing countertops with new, more preferred materials such as quartz or granite are great ways to improve optics while making your kitchen worth soar.
3. Create a Budget
Whilst this guide talks about budget friendly friendly kitchen remodeling tips, budget still comes into play.
The only way to ensure your renovation lives up to your expectations is to create a budget and stick to it. The first factor in creating your budget is how much you can spend. Take a look at your finances and see how much flexibility you have. Industry experts suggest breaking your renovation down into categories and designating percentages of your budget to those categories.
For example, you should always factor 20% of your budget towards the cost of labor. Be sure to factor into your budget some room for error as well, as materials may be more expensive or delays in construction could end up costing you more than you originally planned for. Experts recommend factoring in 15% of unexpected causes to be sure you stay within your budget.
When creating your budget, it’s important to take into account how long you plan to stay in your house. If you believe you’ll be moving within the next 1 to 5 years, you’ll have less time to recover your investment and might think about keeping your budget relatively low so you can see a higher monetary return.
You may need to leverage some of your home equity to be able to budget with long-term expenses in mind. You can do this by taking out a home equity line of credit or reverse mortgage (this reverse mortgage payment calculator can help you determine how much you qualify for).
4. Consider Cabinet Refacing
Purchasing and installing new cabinets tends to be the most expensive part of a kitchen renovation. Due to the labor and materials needed, homeowners end up spending 30% – 50% of their budget on cabinetry alone. To mitigate that cost, you should consider cabinet refacing. Cabinet refacing means that you replace the doors of the already installed cabinets, rather than the entire unit. There are quite a few pros to cabinet refacing besides saving money as well, you can do it yourself with the right tools and materials and it’s a much faster turnaround.
5. Avoid High-Cost Upgrades
High-cost upgrades can be the downfall of your renovation budget. Instead of going for the expensively priced items, be sure to look for cheaper ones that are similar in features. For example, if your kitchen appliances are still working well but a little dated, you might consider holding off to upgrade. If you’re keen on installing new ones, one of the best ways to save money while investing in your kitchen is to purchase new energy-efficient models. Look for energy-star rated appliances at your local home improvement stores.
Conclusion on Kitchen Remodeling Tips
These budget friendly kitchen remodeling tips are greatly useful and will come in handy for that kitchen revamp you’ve been planning but been putting off because of the dread related to funds. Interview different contractors, don’t just choose one, create a budget and follow on the other things to do and you are well on your way to finally having your dream kitchen using these easy kitchen remodeling tips.
Cheers to a banging and spanking new kitchen, Queens. Invite me for lunch or dinner to come check out the finished work! If you have any other kitchen remodeling tips, leave them in comment section below and don’t forget to share this with family and friends!