A new kitchen may be one of the big items on your home renovation to-do list. Perhaps, the time has finally come to really start embarking on this major project. When renovating a kitchen, budgeting is essential. Be sure to factor in all the costs, expected and unexpected, and stick to the budget. Here are several factors that you should keep in mind.
First, start with your finances. There will be both an objective and subjective limit to how much you can spend on a new kitchen. Your finances may allow for only so much room, but on the other hand, you may think that other projects or investments need to take priority. If the desired kitchen budget is out of reach, refinancing and taking a loan are just two ways to make it happen.
The Average Cost
The average cost for a new kitchen in your area will help give you an idea of what budget is necessary for a decent renovation. Remember, the cheaper you go, the lower the quality can be. In Maryland, kitchen renovations range from around $20,000 to $59,000.
Be sure to understand the details of what you are paying for thoroughly. Go in detail over the cost breakdown with your contractor. Along with the individual costs for labor, cabinetry, flooring, countertops, appliances, fixtures, etc., also include a slot for the unexpected. Extra costs can especially crop up in older homes.
Different kitchen components will take up more or less of the budget, but there is flexibility. Within your set budget, what do you want to prioritize? Are high-quality appliances a must-have? Have you always dreamed of dazzling marble countertops? Feel free to spend more than average on what’s important to you, while still maintaining the budget.
Believe it or not, a kitchen can be too high-quality. The best of the best can be too great given the context of your neighborhood and community homes. Even with the priciest materials, the context can make these investments superfluous and not gain the desired ROI.
Lastly, consider how long you plan on living in your current house. If you intend to move within a decade, consider your kitchen renovation to be an investment to boost your home value. It’s best to improve it only so much as to make it decent and inviting. If you are staying longer, personalize the design to your heart’s content.
KITCHEN AND BATH REMODELING FROM KENWOOD KITCHENS
Ready to get started on your next kitchen, bathroom or closet project? Kenwood Kitchens can help. Since opening its doors in 1974, Kenwood Kitchens has made a name for itself throughout Maryland as a complete kitchen and bathroom remodeling firm.
We want our clients to get what they deserve: a quality installation with quality products, at a fair price. Contact our expert planners today for a free consultation about your dream project.
Our showrooms are unparalleled, each has over a dozen full models for you to explore. With showrooms located in Lutherville, Abingdon, Columbia or Annapolis, Maryland, Kenwood Kitchens is the place for all of your kitchen and bathroom needs. Don’t hesitate to give us a call at (800) 211-8394.