Most American homeowners are ready to go the extra mile to keep their properties in great shape. Besides regular maintenance and repairs, many invest in renovation projects costing thousands.
According to a Statista report, interior room remodeling was the most popular project for U.S. homeowners in 2023. Nearly 70 percent of respondents reported having invested in interior remodeling. Meanwhile, around 50 percent of respondents opted for outdoor upgrades. A recent 9News survey in Denver stated that 63 percent of homeowners prefer renovating their current homes to purchasing new ones.
Most search for the best kitchen remodel in Denver when it comes to interiors. A kitchen makeover is one of the most rewarding home improvement projects. Besides adding charm and functionality, this project can boost the value of your property, However, it is also one of the most expensive and complex.
Whether you want a minor refresh or a full-scale renovation, careful budgeting is essential to achieve your dream space without financial stress. Here are a few practical tips for budgeting for your kitchen makeover.
Start With Your Goal
The Spruce notes that most homeowners don’t realize a lot of things before diving into a kitchen remodel project. Expect the entire thing to take a month or two more than you originally planned. Moreover, you may experience scope creep in the most unexpected ways. Planning and foresight can save you from stress.
Before considering costs and materials, define what you want from your kitchen remodel. Are you seeking a modern look or better functionality? Do you plan to sell and want an increased home value? Do you want a bigger space for your growing family?
Pinpoint your main objectives, such as more storage, better lighting, or energy-efficient appliances. The next step is to let these goals shape your entire plan. For example, if aesthetics matter most, focus on finishes and design elements. If your priority is functionality, allocate more budget to layout changes or new appliances. Make a list of “must-haves” and “nice-to-haves” to guide your spending decisions.
Prioritize Projects
Not every kitchen upgrade carries equal weight or cost. Moreover, it is wise to opt for ones that actually make a difference if you are on a limited budget. Good Housekeeping provides a realtor-approved list of kitchen upgrades to add value to a property. New floors, a fresh coat of paint, updated cabinets and cabinet hardware, and the latest appliances top the list.
Besides checking this list, write down the changes you want to make and rank them by importance and impact. This helps you allocate your budget where it matters most and trim less critical items accordingly.
For example, cabinets, countertops, and flooring are likely to consume the largest share of your budget. Minor updates such as painting, new hardware, or lighting can offer a big visual impact for less money. You can also phase your remodel by starting with essentials, and then tackling cosmetic upgrades as funds permit.
Consult an Expert
RubyHomes states that 75% of American homeowners attempt DIY projects themselves. This is a popular way for them to enhance their homes and add a personal touch. Not to mention, simple upgrades like painting a wall or replacing a cabinet door can be a good way to save money.
Even if you’re a seasoned DIYer, trusting your skills may not always be the best move. When budgeting for a kitchen makeover, bring in an expert designer or contractor as they can help you save money and stress. According to Kitchen Distributors, experts ensure that you don’t have to worry about timelines as well.
Professionals can help you identify potential structural or code issues early to begin with. Additionally, they suggest cost-saving alternatives for materials or layout. You can also rely on them for accurate estimates and timelines. Remember to get multiple quotes and check when choosing a contractor.
Be Ready for Unplanned Expenses
No matter how well you plan and budget for a kitchen remodel, these projects almost always come with surprises. You may come across hidden water damage, outdated wiring, or permit requirements. Imagine how these unexpected tasks can topple your budget when you start only with cosmetic upgrades in mind.
Experts recommend setting aside 10–15% of your total budget as a contingency fund to cover these unexpected costs. Also, keep track of all expenses using a spreadsheet or budgeting app. Regularly review your spending and adjust as needed to stay on track. Stay in the loop with your contractor to ensure that the cost remains within control.
However, do not skimp on or delay such surprise repairs, Leaving a leaky pipe unrepaired can cost a big sum later. Similarly, you don’t want to overlook faulty wiring as it can lead to a risk of fire in your kitchen.
FAQs:
What is the biggest expense in a kitchen remodel?
Cabinets are typically the largest single expense in a kitchen remodel. Expect it to make up 40% or more of your total kitchen makeover budget. Custom cabinetry is the most expensive because of its premium finish. On the other hand, stock or flatpack options can help you save.
What time of year is the cheapest to remodel a kitchen?
Like anything else, choosing off-peak seasons for kitchen remodeling can lead to savings. Late fall and winter, for instance, can be less expensive for kitchen remodels. Contractors are usually less busy, and you may get better pricing and quicker project timelines.
What should I replace first in the kitchen remodel?
Let your budget decide the priority of remodeling projects. Start with any structural or layout changes, including demolition, plumbing, and electrical work. The next step should be installing cabinets before countertops to avoid damage. Pick cosmetic upgrades like painting or hardware in the end.
A successful kitchen makeover begins with a well-planned budget. Without one, you may end up wasting money on useless tasks. By following a budget, you can transform your kitchen without overspending. Remember, the key is to focus on what matters most to you and to plan for flexibility along the way. Ready to start planning your kitchen remodel?