What To Consider When Budgeting Your Kitchen Remodel

First of all, congratulations on planning your kitchen remodel! Whether you’re doing it in your own home or fixing up an investment property, kitchen renovations are a great way to make a property look fantastic and increase its value. One of the most important aspects of any remodeling project is setting a budget. Sticking to a projected budget will hold you and people you hire on the project accountable and on schedule. You need to know how much everything is going to cost. Here are some of the vital things you need to consider when setting the budget to remodel your kitchen.

DIY vs Contract Work

To start, be honest about how much you are going to do yourself (DIY) versus how much you plan on hiring out. A lot of remodels start with enterprising property owners who quickly realize how much work it takes to retile floors, install new windows, and replace countertops. Labor costs are easily the biggest price consideration in home renovations. The price per hour for contract work varies widely depending on where you live and how busy they are, so plan accordingly.

Knocking out smaller projects can make a huge dent in projected labor costs. A lot of successful renovators do everything they can, and then hire out for more complex tasks that require professional tools and expertise that they don’t have.

The timeline will also matter when it comes to how much DIY work you can manage. If you’ve got a full-time job and you need the kitchen done quickly, then you’ll become frustrated with the process as you paint and caulk edges on the weekend. Hiring a remodeling contractor will be more expensive, but things will get finished faster and will probably look better.

Pricing Countertops

Kitchen countertop slabs are one of the biggest investments you’ll make, so it’s worth taking some time to weigh your options. Different materials have varied costs. Each has its benefits that drive the price. There are a lot of different countertop materials, but the most common are granite, marble, and quartz.

Marble – Marble is at the high-end of the luxury scale. Prices can get super expensive for marble depending on the color, veining, and rarity of a particular set of slabs. However, generally speaking, marble countertops range anywhere from $75-$250 per square foot. If you’ve got a big kitchen, the tally can go up pretty quickly.

Aside from the upfront costs, marble has high maintenance requirements to consider. There’s a reason it’s so expensive. It looks fantastic. If you’ve got the cash and you’re committed to the upkeep, then marble’s a great choice.

Granite – Some homeowners are wary of what it takes to keep marble nice, so they turn to granite. Granite’s another great choice that’s seen in so many houses across the country. It ranges anywhere from $45-$200 per square foot, again depending on where it’s coming from, how much you’re buying, and how rare it is. Maintenance costs are a lot lower for marble than granite, but it will still need regular sealant and cleaning.

Quartz – Quartz is an engineered stone, so it’s typically a good bit cheaper than granite or marble. Slabs will run you about $55-$155 per square foot, which you can learn more about with this guide. Because it’s not a natural stone, manufacturers have engineered extra durability and resilience into the slabs. Of the three materials, quartz’s upkeep costs are the lowest. The surface is nonporous, so you don’t have to worry about keeping liquids and dirt from eating away at your countertops.

The Cost of New Appliances

Replacing appliances is another big cost center in kitchen remodeling projects. Kitchen appliance makers have essentially become technology companies. Each year, they showcase new models that integrate with phones, Amazon, and other shopping services. You can check your calendar on refrigerators and preheat your oven on your way home from work.

However, property owners should take a hard look at how much functionality they’ll get out of a hot new-issue appliance. It’s always a good idea to buy something nice with minimal features so your kitchen doesn’t get dated too quickly. Spend more instead to buy higher-quality appliances instead of some cool new functions.

Paint, Fixtures, and Tiles

When it comes to everything else, price and quality will depend on what the remodel is for. If you’re fixing up the house for a tenant, you don’t want to go too high-end because they’ll never treat the kitchen as nicely as you’d like them to.

However, if you’re remodeling your own living space, then make room in the budget for nicer finishes and materials. As long as it doesn’t put you in a precarious financial situation, you’ll never regret spending what it takes to make your kitchen beautiful. Have some fun and build yourself a dream kitchen that you’ll love walking into every day.