Remodeling your kitchen can take a chunk of your project’s budget. If you’re wondering about the cost and why it’s so high, that’s because home values for kitchens tend to be higher. Even with a budget of $30,000, you’ll have a hard time finding a contractor. Some will give you an estimate of $40,000 for rough carpentry and construction. Add another $30,000 for the appliances or cabinets, which is $70,000. If you want to learn more about budgets for kitchen remodels, read on.
How Much Should You Spend?
They say you should set aside about 10 to 15 percent of your property’s value when you plan for a kitchen remodel. But while those figures are an excellent starting point, the total cost can run much higher. The bathroom and kitchens are the most expensive rooms in a home. For one, there are so many experts that need to be involved in those rooms, from the lighting and plumbing, the cabinet makers, the countertops, tiles, and more.
What Affects Your Remodeling Budget?
Before you go ahead with a remodel, consider four things:
- Will you replace your appliances?
- Which brands will you choose?
- Are you replacing your cabinets? Cabinets take a lot out of the budget.
- Where do you live?
You could get a lower or higher total depending on your answers to these questions. The contractor you choose will also matter. Look for a trustworthy contractor. Go online and search for “kitchen remodeling companies near Fort Collins, CO.” That will help you generate a short list of service providers.
How Will Your Remodel Affect Your Home Sale?
If you have plans to sell the property later, you can set a higher price after the kitchen upgrade. Bathrooms and kitchens sell homes. You’ll want to choose a design with a universal appeal, though. That’s one way to ensure that the features or additions you make through the remodel will draw potential buyers in the future.
Is COVID Still a Problem for the Crew?
In some parts of the world, COVID still impacts the supply chain. But the disruptions may not affect your remodeling project. Still, your crew may tell you that you’ll need to wait for this part or that to arrive and that can push back your timeframe. Labor shortage can also be a problem. Talk to your contractor to have a better idea of what you’ll be facing. That will help you manage your budget.