Planning out a kitchen remodel requires more than just design expertise. Being able to set and stick to an accurate budget is also a key factor in the success of your project.
Without the proper financial planning in place, you won't be able to determine what materials and services you can and can't afford. There are a variety of ways you can set the perfect budget, so that you can get the kitchen remodel you truly want.
Set an Upper Limit
After considering your current financial situation, your outlook in the near future, and the amount of time that you plan on living in your current home, you should come up with a number that represents the maximum amount you would like to spend on kitchen remodeling in Layton UT. Of course, your actual budget doesn’t have to be the same as the maximum you have available to spend. In fact, it is a good idea to leave some wiggle room.
Account for an Extra 20 Percent
Any home renovation project budget should include some leeway for unexpected costs. They are rare, but you never know when broken pipes, uncovered floor rot or other events may conspire to ruin a perfectly planned budget. Accounting for a potential 20 percent overage will ensure that you have sufficient wiggle room between your actual budget and the maximum you can afford.
Break Down the Costs
Would you like some advice from another remodeling pro? Buck Collins, owner of Collins Tile and Stone, has completed countless renovation projects over the past two decades. He says one trick always helps his clients set and stick to budgets for their kitchen remodeling in Northern Virginia:
“If you're going to be doing a full kitchen remodel, you should make a list of all the individual features you plan to have renovated. Then, you can break the budget down according to category.”
For instance, you could estimate the costs individually for the cabinets, appliances, fixtures, fittings, and windows. This advice will help you easily visualize how your budget is allocated and ensure that the money is properly spread out where it’s needed.
Knowing what you want most out of your kitchen remodel can help you make tough decisions that may arise later on. If unexpected problems occur, you may have to make compromises elsewhere to stay under budget. Having a list of priorities will help you with that decision.
These are just some of the things you could do to help make your budget ideal for your kitchen remodel. For more assistance with design, planning and budgeting, contact Utah Basement Kitchen and Bath about a free project consultation and estimate today!