When you want to spruce up your home, the kitchen is the perfect place to begin. In any home, the kitchen is the center of all activities. Interestingly, 40% of the participants in a Houzz study revealed that they remodeled their kitchen because the old kitchen had become "unbearable." According to real estate experts, if you have the budget, do not think twice. Move ahead with your kitchen remodeling plans.
What is the cost of a kitchen makeover?
What is the most common factor that stops people from going forward with a home remodeling project? People always cite the shortage of money as the prime reason. However, the real reason is their lack of understanding of how to spread out the resources to increase the real estate value of their homes. Studies show that the people who renovated their kitchens in 2018 ended up spending between $5,000 and $50,000. The cost largely depended upon the features they replaced or repaired. Only 10% of US homeowners spend $100,000 or more during kitchen remodels. The cost of the renovation actually depends on the individual and his or her choices.
How to keep a tight leash on your kitchen remodeling budget?
Here are three time-tested tips that will help you budget your expenses –
Think about spending at least 75% of your money on fixtures and things you don’t have to replace frequently. In other words, spend lavishly on the value-adding appliances and good quality cabinets in your kitchen. Faucets and pipes require frequent rework irrespective of their cost and quality.
Don't overdo the kitchen. Your remodeled kitchen can add value to your home, but after one point it will become difficult for you to recover the costs of the renovation. It is even true for the designer kitchens with bespoke modular cabinetry. Your kitchen alone should not cost you more than the value of your home. Speak with a reliable home remodel expert for more guidance on the same.
The ugly truth is that renovations never cost lesser than you expect them to. Even when you are working with the most experienced team from your city, you should set around 10% to 15% of the total budget aside for such escalations. You don’t want to end up with a half-finished kitchen due to the shortage of cash. Speak with the contracting team in advance to find out the exact cost of the raw material and labor.
How to save considerably during a kitchen renovation?
According to expert home designers, you can save a fortune by reusing your old cabinetry. Go ahead and add a splash of color to the cabinets to give your kitchen a new look. You can extend your painting expertise to the kitchen appliances as well. You can now buy paint that resembles the flush, steel surface of high-end appliances once it dries. Work smartly around your kitchen to reduce the wastage and maximize the use of available resources. Most importantly, don't ignore the kitchen backsplash. A new tile backsplash can pull the entire kitchen area together, and it will only cost you around a hundred dollars.
The average return on investment for a kitchen makeover is around 54%. That is a substantial percentage considering you can do most of the painting and tiling work on your own or with little help from the professionals!
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