How to Create a Budget for Kitchen Remodeling

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The kitchen is the heart of the home, serving as a functional space for preparing food and a social setting for meals and friendly gatherings. It consistently ranks as one of the most popular rooms in a home and plays a huge role in your daily routine. As a space you spend a lot of time in, creating a kitchen that reflects your lifestyle and taste is important.

If your tile backsplash, kitchen cabinets, and countertops are chipped, discolored, or looking worse for wear, it’s time to consider remodeling. Appliances, materials, and installation costs add up quickly, so creating a budget is essential to control costs while designing and installing your dream kitchen.  consistently ranks

Kitchen Remodeling Costs

According to Forbes Advisor, an average kitchen remodel, including new cabinets and countertops, costs approximately $25,000: around $150 per square foot.

However, getting creative with kitchen designs can help you save money. Innovative kitchen ideas like open shelves, freshly painted cabinets, and budget-friendly pendant lights can help you lower home improvement costs.

Creating a Budget for a Kitchen Remodel

Establishing a budget comes down to your tastes, preferences, and available finances. It’s also important to remember that every dollar you invest in your home can increase its resale value. A quality remodel is often worthwhile, even if you plan to live elsewhere in a few years.

The industry standard for a kitchen remodel is approximately 10% of the value of your home. Having your property appraised is a good starting point if you’re unsure where to draw the line with the overall spend. To help with your upcoming project, consider these tips when creating your budget.

Determine What Type of Kitchen You Want

The first step in setting a budget is to determine your wants and needs. For homeowners who don’t have an interior design style in mind, the availability of choices can be overwhelming.

One of the most effective ways to narrow your options is to think practically. Consider the size of your kitchen, how often you cook, how much storage you need, where you eat most of your meals, and how many people regularly use the space.

A single person or couple who cooks only a few nights a week can sacrifice expensive stoves for stylish cabinetry and opt for a small kitchen island over a long counter with a farmhouse sink.

Your needs will differ if you cook multiple times a day for a large family. To manage family cooking duties, durable and easy-to-clean counters are essential. You may also need extra room for a large refrigerator and eat-in dining space.

Once you establish your needs, calculating costs becomes far easier. Make a prioritized remodeling list and start researching your options. Categorizing your list into needs, wants, and extras give your budget an additional focus.

Research and Price Hunt

Without researching costs, it’s impossible to gauge your budget accurately. Product and service prices change yearly and often experience seasonal fluctuations, so setting aside time to price hunt is essential. The more research you do, the more informed you are, minimizing the risk of accidentally overspending on a single feature or appliance.

To help with budget allocation, break down how your overall spending might look. You can use this framework as a guide based on your priorities and the features you are improving.

Remodeling Task Budget Allocation
Kitchen cabinets 28%
Labor and installatio 18%
Appliances 15%
Countertops and backsplashes 11%
Flooring 7%
Lighting 5%
Painting 5%
Plumbing 3%
Design 3%

Buying at the right time can help you save money, adding flexibility to your budget.
For discounts, target seasonal sales, like Black Friday, President’s Day, Memorial Day weekend, or July 4th. If you need new kitchen appliances, the end of summer is the perfect time to buy, just before manufacturers release new models.

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Set Your Limits and Stick to Them

After determining your needs and researching market prices, it’s time to settle on a number for your budget. Once you’ve set your spending limit, stick to it.

Always leave approximately 20% of your budget for unexpected expenses. For example, your contractor may discover a water leak or electrical issues that require a quick fix, stretching your budget. If the remodel goes smoothly, you might have money to buy a new espresso machine or install luxury faucets on your sink.

Prioritize Quality in Certain Areas

Prioritize quality on the things that matter most in your kitchen, like countertops and cabinets. The benefits of quality kitchen materials are twofold. Quality materials are durable and long-lasting, so you’re investing in the future of your home.

The eye is drawn to the major features of a kitchen. Quality cabinets and countertops leave a memorable first impression and add significant aesthetic value to your space.

A quartz countertop is a perfect example of a quality kitchen investment. Quartz is an engineered artificial material made by combining natural quartzite and resin adhesive. It is typically more affordable than other natural stones but offers excellent durability, as well as chip, scratch, and heat resistance.

Quartz is available in a range of colors and is suitable for any style of kitchen. It can be matched with contemporary stainless steel appliances or more traditional subway tile kitchen decor. Quartz is easy to maintain and can last a lifetime. You don’t have to worry about another expensive remodel in a few years by prioritizing certain high-quality purchases.

Account for Indirect Costs

A major renovation will likely limit your kitchen use for several days or weeks. Unless your house has a second cooking area, you’ll probably eat out more often or temporarily live somewhere else. These extra expenses are easy to overlook, so account for indirect costs in your budget.

Monitor Expenses

Creating a budget is a waste of time if you don’t stick to it. Documenting your expenses and regularly checking your spending is essential for staying on track. Most home renovation projects go over budget, with kitchens being one of the most likely rooms to exceed spending limitations.

One of the most straightforward and effective ways to monitor remodeling expenses is to create a spreadsheet from your prioritized list. Create a budget, actual spend, and difference columns for each purchase, and keep your spreadsheet updated. Hold on to all receipts in case you need to return something. Consulting your expense sheet regularly helps you resist the urge to splurge on unnecessary items.

Hire Professional Contractors to Bring Your Dream Kitchen to Life

Professional contractors are integral to any major home project. Kitchen remodeling involves plumbing, electrical wiring, and installations. Having a reliable contractor on board helps ensure high-quality work and prevents small issues from becoming costly repairs.

At Motor City Granite & Cabinets, we have over 30 years of combined experience delivering top-class fabrication and installation services. We offer custom-made cabinets in a range of wood finishes and supply a variety of premium granite and quartz countertops and hardware, as well as Blanco and Delta sinks and fixtures.

Our professional team can also provide design assistance and project management services, helping you with all aspects of your kitchen remodel, including budgeting. We have spearheaded countless kitchen renovations and can lean on our experience to ensure you get maximum value from your budget.

Call us today at (248) 690-9537 to discuss your project in more detail. For a free quote, fill out our online questionnaire.