As one of the most expensive rooms in a house to remodel, extra expenses on top of the already high cost of renovating the space can push your project over it’s projected budget. Before you start your renovation, being aware of these areas that will push your kitchen renovation over budget will make you more aware of the choices you make.
Lack of Planning
A common error made in remodeling is to determine an overall spending point, but neglecting to itemize your budget. After deciding how much you wish to spend overall, you will need to create a breakdown of how much of this total amount will be spent on each aspect of your remodel project. This includes budgeting for cabinets, flooring, appliances, lighting, etc.
Within this budget, remember to expect the unexpected. Even the most experienced remodelers might not foresee potential termite damage, mold, or wiring issues that lie beneath the surface of your home. These repairs or changes could blow your budget even when you adhere to every other aspect! For this reason it is crucial to devote an allowance of your budget to emergency funding. In the best case scenario, you might see nothing go wrong, and end up with money leftover!
Depending on your budget, luxury appliances might not be your best choice. If you’re tempted to buy the most advanced technology, first consider how often you and your family actually use your current appliances, and if you will realistically take advantage of new features. Appliances have a huge range of options and price points. Keep an open mind in terms of brand names – for example, buying a General Electric oven instead of a Viking could save you thousands.
After you have determined how much you are going to spend on countertops, research what material will allow you to stay within that price point. If your budget allots less money towards countertops, you might choose formica or laminate over granite or quartz. These practical options can have a similar look without the hefty price tag. When budgeting, keep in mind whether or not you want to add more counter space.
If you are looking to spend less, you might want to avoid custom cabinetry. Instead of replacing your cabinets, consider painting, resurfacing, or restaining your existing cabinetry. If your current cabinets are not significantly damaged, these options can provide a fresh look for a fraction of the cost. If you must replace your cabinets but are still looking to save money, try shopping stock cabinets instead of customized, and avoiding unnecessary special features like a knife drawer or wine rack.
If you decide to add to your kitchen space, know that along with the cost of knocking out a wall, this will increase various factors of your budget including flooring, cabinetry, counter tops, and even electrical work. Remember that it is possible to improve functionality without necessarily building out the space.