subject: How to Budget for a Kitchen Remodel Project [print this page] Before you spend thousands of dollars remodeling the kitchen, you need to work out a budget for the project. A skilled contractor can help you plan for each aspect of the project and determine the parameters for how much you are willing to spend on each facet of the undertaking. Establishing a clear budget up front will make sure that there are no hidden surprises later on.
Your budget will depend on how extensive a remodeling project you are planning. If you plan to gut the current kitchen and start over, expect to spend at least $50,000. The costs are going to include new cabinets, countertops, flooring, appliances, plumbing fixtures, construction materials and labor. The contractor will also put a contingency fund into the budget that will be set at about 15% of the total project for any unforeseen expenses that come up.
There are a number of options when it comes to selecting materials for your new kitchen that are going to impact the cost of the project. The biggest single expense will be the cost of the new cabinetry. There are a number of different styles and types of wood to choose from. Cabinets are broken down into stock cabinets, semi-custom and custom built cabinets with those being the most expensive. You will find stock cabinets in the most popular styles at home improvement stores but you will be limited to the standard sizes that they come in. Semi-custom and custom cabinets will be tailored exactly to your space and needs but you will pay a premium for the service.
The countertop that you choose for the kitchen can also eat up a big chunk of the budget. If you have your heart set on granite or a composite surface like Corian, be prepared to pay much more than you would for the typical laminate material. When it comes to flooring there are a number of options as well, from tile to linoleum to wood. The cost of the different materials is about the same but the big difference is how the product will hold up over time. Ceramic tile is the most durable.
Choosing the appliances for your new kitchen is another major endeavor. The most stylish these days are stainless steel but they are also the most expensive. You could easily spend $10,000 on the refrigerator, stove, oven, microwave and dishwasher. If you spend a lot of time in the kitchen you may want to have two ovens for when you are entertaining, plus an island grill is a nice option.
There are other materials that might be needed but will vary greatly from project to project. Will drywall have to be replaced and new electric outlets installed? What about the plumbing pipes to the sink and dishwasher? There is also the cost of the labor to do all of the work which can quickly add up. The good news is that whatever you spend now to fix up the kitchen is going to drive up the overall value of your home.
