Budgeting for a Kitchen Remodel
March 21, 2019
As a homeowner, one of the most important things you can do is maintain and improve the property value of your home. One of the best ways to do this is through remodeling and renovation, and it often starts in the kitchen.
At the Kitchen & Countertop Center of New England, we understand that even as important as this is, you still likely have a budget that you need to stay within. It is our goal to help every customer, whether completing a refacing project or a full kitchen remodel, keep it affordable and to grow the value of their home in proportion with their neighborhood and long-term living plans.
The average full-kitchen remodel costs $22,864 or $150 per square foot. Lets unpack further what that value means.
Keeping It Cheap
For anyone working with us, we recommend keeping a couple things in mind if youre truly on a budget where every penny counts.
First, remodel in stages. If youre not planning to change the layout of your kitchen, consider budgeting to complete the countertops during one period of time, cabinets the next, and then any other necessary parts such as appliances down the road.
Second, only update what is necessary. It may not be necessary to update everything in your kitchen. Upgrade only the materials and appliances that truly need upgrading.
Considerations for Your Budget
The length of how long you plan to continue living in your home and the neighborhood you live in are a couple factors that should affect how you plan for you remodel.
If you plan on selling your home shortly after a remodel, then it doesnt make sense to put that much money into a project. Keep it within 5 to 15 percent of the total property value. This will be much easier to spend and recoup upon the sale of a home.
If you plan to reside in your home for years to come, then a total kitchen remodel and the customization of products like countertops, cabinets, flooring and appliances makes much more sense.
The neighborhood you live in should also be taken into consideration when planning a remodel. While keeping your property value high and competitive is important, dont complete a remodel with materials and products that would be significantly understated or overstated compared to surrounding homes. This will likely drive away potential buyers when your home goes on sale and doesnt meet expectations compared to other homes in the neighborhood.
The KCCNE team is ready to help you plan the remodel that makes sense for you and your family. Call today to begin planning for your dream kitchen!
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