Everyone wants their homes to become more comfortable, though home renovation is costly. Instead of a full home renovation, homeowners can also plan for strategic home remodeling. For example, remodeling kitchens and bathrooms can enhance your home’s appearance. According to a nationwide survey in the USA, 43% of participants felt that their kitchens needed renovation. At the same time, 40% of survey respondents also stated that they are not financially ready for the kitchen improvements immediately.
So, cost is a major factor that raises concerns for homeowners when it comes to the kitchen upgrade. The good thing is that kitchen remodeling is a worthy home upgrade since it increases your property value. The following section of this article covers budget planning for kitchen remodeling and tips to reduce the overall cost.
What Is the Kitchen Remodeling Cost?
The cost of kitchen remodeling starts from $65000 in the USA. The price can easily increase when homeowners choose custom cabinets, spacious islands, laminate countertops, etc. Sometimes, kitchen renovation also includes flooring, which comes with an additional cost.
The overall kitchen renovation cost is high, though you can reduce the cost by choosing materials and customization options as per your budget. Instead of making hefty expenses from your savings, you can also apply for kitchen remodeling loans.
Kitchen Remodel Budgeting Tips
Now, let us focus on the kitchen remodel tips that can reduce your overall budget. A planned approach to kitchen remodeling can help you plan your budget precisely and avoid unnecessary expenses. Here are some of the tips that homeowners may follow.
- Tip #1: A bulk of money should be allocated to the things that you do not want to change often in your kitchen. For example, the majority of your funds should be allocated to the appliances and cabinetry.
- Tip #2: Homeowners should allocate around 10-15% of their budget for unexpected expenses. No matter how much you plan, there will be some unexpected expenses. Therefore, staying prepared for them is essential.
- Tip #3: Invest in the things that will fetch long-term cost benefits. For example, investing in LED lights can reduce your expenses in the long term. Solar power and solar equipment will also prevent your energy expenses.
How Can You Save Money on Kitchen Renovation?
A planned approach is the key when it comes to completing a kitchen renovation successfully. Many homeowners stay in confusion in this phase. If you are unsure about your renovated kitchen design and look, you should consult a home assessment service. For example, Home Solutions Pro offers a detailed kitchen assessment to help you find the most suitable and financially feasible kitchen design.
Apart from meticulous planning, the following tips will help you in an effortless kitchen remodeling with precision.
- Revive Old Cabinets: Do the kitchen cabinets look old? Instead of replacing them, you can refurbish them to prevent high expenses on kitchen renovation. Consider applying new laminate sheets over the cabinets to make them look beautiful. Another cheaper option is painting the cabinets to make them look fresh and elegant again.
- Backsplash Upgrade: Instead of upgrading the whole kitchen, you can make small changes to elevate the kitchen’s look and feel. For example, change the backsplash tiles to bring a new look and feel to your kitchen with precision.
- Clean and Paint Appliances: The kitchen may look when appliances appear old and worn-out. The quickest way of reviving the cabinets is by applying paint on them. For example, the refrigerator in your kitchen will appear new again after undergoing a painting. If the appliance is not paintable, you can wash or clean it properly to enhance its appearance.
- Low-Budget Flooring Options: Instead of marble or tiles for the kitchen floor, you can choose the low-budget alternatives. For example, vinyl flooring is a cost-effective option. Besides a low installation cost, the vinyl flooring renders a long-lasting solution. The easy-to-maintain vinyl flooring also appears aesthetically beautiful.
Your Home’s Value After Kitchen Renovation
A kitchen remodeling can boost the value of your home significantly. It is not a surprise that buyers are willing to pay more for the houses that come with well-furnished and recently renovated kitchens. According to a survey, more than 80% of home buyers in the USA keep the kitchen on their top priority list when inspecting a home. The same survey also claims that the majority of home buyers are also willing to pay more for houses that include new appliances and granite counters in their kitchens.
Average Kitchen Remodel ROI
Do you know that kitchen remodeling comes with an ROI of more than 50%? In other words, when you invest $50000 for a kitchen improvement, you will gain $100000 during the home-selling process. The houses that already possess a smart and modular kitchen space may require minor improvements to increase ROI up to 80%.
When it comes to the ROI on kitchen remodeling, there is no one-size-fits-all thing. The ROI depends on multiple factors, including the overall home’s condition. Nevertheless, the location is also a crucial factor. You will get a high ROI when your home is in a convenient location. A minor or major kitchen revamp can enhance the home’s value immensely in such cases.
Consult Home Solutions Pro
Are you thinking about a kitchen remodel or upgrade? Home Solutions Pro has experts who can render effortless kitchen remodeling services with precision. We are poised with years of experience to render the best guidance on kitchen upgrades for small and large houses. Schedule our home assessment to unlock the major concerns with your kitchen and meticulously resolve them to improve your living experience and home value.
