Individuals often sit down and create a budget for their kitchen remodel based on estimates they find online. Although this method provides a ballpark estimate, a better way to determine the budget involves visiting showrooms and trade shows, browsing magazines, and speaking with professionals in the industry. Come up with a rough design regarding what you want in the kitchen and then review this design based on prices for actual products.
Why Rough Estimates Don’t Work
When a person reaches out to Sonoma Mountain Construction to discuss a kitchen remodel project, they may have done research online. The homeowner obtained general estimates for the cost of the project and expect the remodel to fall within this price range. However, many factors play a role in the project costs, and people often find material and finish changes account for more cost overruns. How can an owner avoid these overruns?
Multiple Plans
A homeowner often designs their dream kitchen, never taking into consideration the fact that some materials may not be available. Consumers continue to see how that is a problem in other areas of their lives, but don’t stop to think it may also affect the kitchen remodel. Create a Plan A and Plan B for every item that will go into this room. By doing so, the designer can include or remove items from the plan until it falls within the established budget. When making the alternate plans, including every item that must be purchased, from the appliances to the cabinet fixtures and lightbulbs.
Why Is This Important?
What many homeowners don’t account for when planning their kitchen remodel budget is unexpected expenses. For example, the contractor may find the electrical wiring in the kitchen isn’t up to code and they must update it. This task adds to the cost of the project if the owner has developed only one plan. Furthermore, it adds to the time needed to complete the work.
If the homeowner has two plans, the contractor can make alterations to the plan without delay. The homeowner has already selected alternatives and will just need to know of the changes. Furthermore, the budget for any remodeling project needs a ten percent cushion to account for any minor alternations that are needed as the project moves forward.
Establish Limits
Most people find they spend between six and 15 percent of the home’s value on a kitchen remodel. Any more than this and they won’t recoup the cost when the time comes to sell. However, not budgeting enough for the project also harms the value of the home. Nobody will want to purchase a $500,000 home with a $10,000 kitchen. Find the right balance between a kitchen you love and one that blends with the rest of the home. Individuals who do so find they get the best return on investment with this major home improvement project.
Homeowners must prepare for the unexpected during a kitchen remodel, especially when dealing with a home built in the 1970s or earlier. The contractor may find asbestos or lead in the kitchen, and testing and removal of these substances could add thousands of dollars to the project. In addition, electrical upgrades may be required to support modern lighting and appliances. If the home is older, increase the cushion to twenty percent to account for these additional costs. Hopefully, the contractor won’t use the funds and they can go into savings when the kitchen remodel is complete, so you can plan your next home improvement project and have a head start on paying for it.
