Create a renovation budget… and stick to it

Kitchen renovations are, literally, serious business. Studies have shown that no other room can boost your home’s resale value quite like your kitchen. It’s no surprise then, that kitchen renovations are often the most complicated (and most expensive) alteration you can make too.

The average cost of your kitchen project depend on a number of factors, not limited to: the size of your kitchen, the materials used, and whether you will be changing the layout of the space. To guide you through the begin-stages of your kitchen remodel, we demystify some of the decisions involved in the process.

Kitchen Renovation Budget First Steps

Find a professional contractor
Nine times out of ten, you’re going to need professional kitchen renovator to guide you through the process. Spend time with at least 3 different candidates, and double-check their portfolios and work references. Finding someone trustworthy is crucial to ensure that an already tricky renovations runs smoothly.

Have an emergency fund
Things happen, so be prepared for any surprises. Once your contractor starts tearing up old cabinetry and pipe, problems can (and probably will) arise. Set at least 20% of your overall budget aside incase things turn nasty.

Get your hands dirty
While a lot of your renovation will likely require a professional touch, there might be smaller tasks you can DIY. This would help bring down costs, and save valuable time. Talk to you contractor about how you could lend a hand.

Establish your timeline
Before the first hammer hits, you’ll want to figure out the schedule. Keep in mind that kitchen renovations tend to run behind schedule, no matter what your contractor says. Keep this in mind when mapping out your timing.

A deeper look at the costs that will affect your kitchen renovation

When laying out your potential expenses, take a look at the project as a whole. Before selecting your wall colours or cabinet hardware, ask yourself one question: “What do I want from my new kitchen?”

Write down how you would like your kitchen to look and how it will be used. Take time to consider what you want to replace and what you want to keep. Can you repaint your cabinets instead of buying new? These kind of questions will help determine how much you will need to spend.

After doing a thorough analysis – it’s time to think about appliances. Are any or all appliances being repurposed, or bought new? Do your research and find the products that fit your particular needs. It’s wise to think of appliances as investments too, as they will undoubtedly add value to your space should you wish to sell your home one day.

Where Will most of your money go?

Kitchen renovation costs, on average, are broken down as follows:

Design and planning: 4%
Installation costs: 17%
Appliances: 14%
Cabinetry and hardware: 29%
Countertops: 10%
Lighting: 5%
Flooring: 7%
Doors and windows: 4%
Walls and ceilings: 5%
Plumbing: 4%
Other: 1%

If money’s tight, decide what’s most important to you, and make cuts in other areas. Cabinets, for example, consume a big chunk of the budget – so repurposing old cabinet fronts, or buying stock cabinets will save you a great deal of money.

You can also opt to tackle your kitchen renovation in stages – making improvements over a long period of time. Whatever you decide, a brand new kitchen (and the process of designing one) is a rewarding experience when done right.