The majority of homeowners who participated in the survey spent anywhere from $11,000 to $28,300. When planning any type of major renovation, it is important to remember that every home is unique, and every kitchen remodel will come with its own price tag and you may choose to spend significantly more, or significantly less on your kitchen.
Just Where Does Your Money Go?When planning your budget for an investment such as a new kitchen, it helps to you know just where your money is going to go. The National Kitchen and Bath Association breaks down the costs of the average kitchen remodel in the following way:
- Cabinets and Hardware 29%
- Installation and Labor 17%
- Appliances and Ventilation 14%
- Countertops 10%
- Flooring 7%
- Lighting 5%
- Walls and Ceilings 5%
- Plumbing 4%
- Doors and Windows 4%
- Design Fees 4%
- Other 1%
Know Your Comfort ZoneAs you get ready to design your new kitchen, decide on a budget that is comfortable for you. Think about your funding sources. How comfortable are you dipping into savings or borrowing against a home equity line of credit? You won’t be able to enjoy your finished kitchen if all you see are dollar signs when you enter the room. Know your absolute ceiling and don’t be afraid to stick to it. Talk openly and candidly with your designer about your budget so you can work together to make smart choices about where to spend the majority of your money.
Kitchen Remodel Costs Depend Upon Your PrioritiesBefore you sit down with your designer, make a list of your priorities. What are you goals for your project? Do you need more counter space for cooking, or are you looking for more tabletop space for gathering together as a family? Is a large oven a must have? Do you want to open the kitchen to create an open floor plan? When you know your priorities you know where you are likely to spend the most money, and you can pick and choose the features you are willing to compromise on in order to achieve your goals.
Expect The Unexpected When Planning Kitchen Remodeling CostsIf you work with a kitchen remodeling expert that provides comprehensive project management services, you can hedge your bets against the unexpected. However, once you get down to business, you must be prepared for unforeseen costs. You may, for example, discover a structural defect in your home if your remodel involves knocking down walls, raising ceilings or adding windows. You may change your mind at the last minute about hardware, organizational features, flooring or countertops. Or you may decide to spend money on high-end aesthetic features like cabinet finishes, backsplash and lighting fixtures. Some experts suggest setting aside 20 percent for incidentals, but your designer can give you a firmer estimate based upon your unique project.
Investing in a new kitchen is no small financial venture, but the cost of a kitchen remodel can get out of control if you don’t plan ahead. Always work with a professional team who can help you achieve the kitchen of your dreams while sticking to your budget. If you are ready to transform your old kitchen, contact the team at Legacy Remodeling in Pittsburgh today.