The Real Kitchen Remodeling Budget
The worst thing about Kitchen Remodeling is not sticking to the Kitchen Budget!
It’s not totally hopeless. With enough research, kitchen planning, design, and information, you can develop a comprehensive Kitchen Remodeling Budget for your Kitchen Remodeling Project, (just have at least 10% in reserve for the extras). Most people don’t really have a clue about what their Kitchen Budget is, or should be for a Kitchen remodel. You can read 100 articles and they will all tell you something different. If you are going to do a proper Kitchen or Master Bath Remodeling project with good quality Design and Products that are comparable to what is already in your home, than you should spend 10% – 15% of your Home’s value per project.
- Make a Wish List and a Priority List
- Make a List of Alternates for the Wish List
- Research prices
- Select Kitchen Products prior to start of Job and don’t make changes
- Listen to the advice of your Kitchen Designer & Contractor
- Prepare for “Hidden Conditions”
- Make sure you understand your Kitchen Contract Documents
- Make sure all labor, installations, and products are included in your Contracts
- Don’t assume, ask
For any Kitchen Remodeling Budget, make sure you have a Contingency Fund of at least 5-10 for your total Budget put away for “Hidden Conditions”. A Hidden Condition can be anything from existing termite damage, slow water leak you never knew of, etc. It can also be for impulse buying – when you just have to have the Viking pro range instead of a standard one.
The biggest problem for most Homeowners when they remodel, is they really don’t understand their Contract or read them thoroughly. You should always have your Contractor or Designer fully explain the Contract and particularly what is and what isn’t included.