1. Decide how much you want to spend and stick to it.
Creating a budget for your kitchen and staying in it sounds so obvious and easy, but it’s harder than you think.
The average cost of upscale cuisine is more than $ 80,000, but three factors should determine whether you want to spend that much. The first is how much you can afford. Take a look at your finances to determine this number.
The second is how long you want to stay in your house. Only spend what you think when you sell the house. If you plan to live in your home for more than five years, you should make a transformation that will make you and your family happiest.If you plan to sell the house within five years, then your kitchen renovation should be seen as an improvement in real estate investment.
The third factor is your neighborhood. Is it modest or upscale? If you place a ruling-class kitchen in a middle-class neighborhood, you will lose money if you sell your home. Do not improve yourself.
2. Know how the costs collapse.
Laboratory consumes between 20 and 35 percent of your project costs. Cabinets can also rebuild a large part of your kitchen budget.
Here’s how it collapses on average:
35 percent: cabinets
20 percent: work
20 percent: devices
10 percent window
5 percent: fittings
3 percent: fittings
7 percent: other
3. Set aside 20 percent of your budget to cope with the unexpected.
You will experience surprises in your kitchen, especially in an older residence. Leave some room in your budget to cover these surprises.Under the walls or under the floor all sorts of surprises lurk the budget. Like when you tear your walls and find out that your electrical wiring is outdated. Or you pull out your dishwasher and discover that the floor underneath is spoiled by a water leak you did not know about.
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4. Make a list of your renovation priorities.
What is most important to you? New devices? New cabinets? Write down your priorities, if unexpected costs hit your budget, you will still be doing the best things on your list.
The little things add up. It can be a cost-saving alternative or you can do without the article altogether.When deciding on your priorities, keep in mind how important little tidbits like a crown cap and a super-luxury faucet are for the overall look and function of the kitchen.
5. Know the details of how you will pay for this project.
There are many ways to renovate a kitchen, but home equity loans are the most popular because they are tax deductible. Further options include refinancing, the conclusion of a personal loan or the taking out of a loan against a pension plan.
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Even if you have cash in hand, borrowing money at a low interest rate can be smarter than pulling your money from an investment account that generates a higher return.
When you get a loan, you take into account costs such as interest and loan fees. Also find out if you get funding from your loan. You must make deposits with your contractors and you must pay in advance for materials.
6. Decide if you want to stay home while renovations are taking place.
Living in a different location while doing the work is a good idea and will reduce your stress. Consider the cost of an apartment or hotel, storage fees and removal fees.
If you stay there will be a cost to your health. You could also set up a temporary kitchen in an adjoining room, and you should add the cost for it.
7. Factor in the cost of food.
Imagine eating a lot of meals in restaurants or bringing takeaway food while your kitchen is torn open. Fit this issue into your budget right from the start.
8. Create a spreadsheet for your budget and check it frequently.
Set your budget and how much you actually spend on tables so you can control how much you actually spend. If you find that a cost overrun occurs, you can stop it.
9. Do some of the little work to lower your costs.
You do not have to pay for all the work. Demolition – removing old cabinets, appliances and floors – is easy to do.
10. Avoid extras. Do not be tempted to deviate from your budget mid-project.
If you catch yourself saying, “It would be so great if we add (fabulous cuisine feature here),” stop it. This is how budgets are created. Look at the transformation budget you created in step 1 and repeat the number like a mantra. You can live without the little extras.