How Kitchen Remodeling Budgets Go Over
A kitchen remodel is potentially a huge and expensive undertaking—and can sometimes require a budget of $30,000 or more. Often, the work needed quickly outstrips your planned expenditures, leaving you stressing over how to fund the remainder of the project.
It’s important to understand why kitchen remodeling budgets go over. Let’s explore some of the reasons it happens, to help you avoid falling into this all-too-common trap…
- Unrealistic expectations
As we mentioned, a full kitchen remodel can be expensive, so it’s important to set a realistic budget for the project. Otherwise, you’ll end up getting disappointed by the stuff you can’t afford as you go along. It’s advisable to take your time and save until you can realistically design the exact makeover you desire.
- Overspending on kitchen appliances
While shopping for top-of-the-line appliances is exciting, it’s usually not worth it unless you have the financial muscle. You may consider going for mid-range appliances, as many models also have the features necessary to make your kitchen an attractive and functional space.
- Lack of a contingency allowance
It’s advisable to create at least a 10% contingency into your remodeling budget to address any emergency situation that may arise. Some unforeseen incidents, such as a structural flaw that needs to be fixed, can tack on thousands of dollars, and you don’t want to be caught off guard.
- Too many upgrades
When it comes to kitchen remodeling, you’ll inevitably have severalelements that need upgrading, including countertops, flooring, and cabinets. But you don’t need to replace them all with higher-end options. Look for areas where you can cut costs to stay within budget.
- Making changes in the course of the project
Making major changesin the middle of the project, such as deciding to use a different cabinet finish or modifying the room’s layout, can lead to a significant increase in costs.
If you keep these 5 things in mind when drawing up your kitchen remodeling plan, you’ll be able to create a realistic budget…and stick to it. It’s also advisable to engage a reputable kitchen remodeling contractor to help create a realistic plan and thus avoid disappointments.