Updating Your Kitchen on a Budget: 5 Factors to Consider
Kitchens and bathrooms have the greatest potential to show a return on investment following upgrades, supposing you don’t wait too long to sell your home once they’re completed. But of course, you can also enjoy your new space in the meantime, taking advantage of increased functionality or at least a modern aesthetic. The only problem is that updating your kitchen can also be one of the most expensive renovation projects the average homeowner undertakes while in residence. And costs can quickly get out of hand if you don’t rein in spending with a set budget. In truth, you probably have a pretty good idea of what you can afford to spend. You just might need to make some hard decisions to get what you want and need while sticking to your budget. Here are some factors to consider before you get work underway.
- Scope of project. When you’re on a budget, you need to seriously consider the scope of your kitchen update. Whereas a gutting and renovation that costs tens of thousands of dollars might be out of the question, you could get a whole new look for a lot less by refacing cabinets and installing new flooring, countertops, and fixtures. You can even save money on replacing appliances by refacing them with updated panels. There are options that will allow you to get the updated look you want without blowing your budget.
- DIY updates. You might be surprised to learn that there are several projects you can do on your own to save money when it comes to updating your kitchen. While you may want to pay a contractor and crew to handle big jobs like installing cabinets and countertops – jobs that require training and experience to do right – you can definitely tackle tasks like installing a backsplash and flooring, replacing fixtures, and painting existing cabinets, just for example. With DIY classes offered by local hardware stores and online tutorials galore at your fingertips, there’s no reason not to save some dough by doing it yourself.
- Materials. The finishes you choose will have a major impact on your budget, but there are always alternatives. If you’ve got your heart set on granite countertops, save some money by purchasing granite tile instead of a solid slab. Rather than buying brand new hardwood flooring, opt for reclaimed planks or durable laminate. And don’t go with new manufacturing for fixtures – look for cheaper options at reclaimed hardware outlets or flea markets. With a bit of polish you could find some fantastic pieces to give your kitchen character while keeping you under budget.
- Ongoing savings. Don’t forget to factor in the savings that some of your upgrades could deliver. With Energy Star appliances and light fixtures, as well as an aerated and/or motion sensor faucet you can trim electric and water bills, making up for a slightly higher cost up-front.
- Getting bids. Whether you’re hiring an independent contractor to do the work you can’t or you’d rather schedule a consultation with a reputable company like Kitchen & Bath Factory, it’s important to shop around when you plan to update your kitchen. With a variety of bids on the table, as well as different designs, you should be able to choose an option that is both affordable and meets your approval. You can also get a sense for the professionals you’ll be working with and find an honest and trustworthy vendor that makes you feel comfortable.