In the last post of this series, 4 Signs that You Need a Kitchen Remodel, we talked about some sure-fire signs that it’s time to upgrade the kitchen in a home. Now, the second most important step in the process is deciding exactly how to spend on that remodel. How much will it cost to create that dream kitchen? How much is actually available to you?
Gather Kitchen Remodel Ideas
When deciding on a kitchen remodel budget, it is often helpful to know where you are going with the project itself. What things need to be replaced, and how much will those replacements cost? Is there major construction involved (such as tearing down walls or building in all-new pipes), or it is simply a matter of hauling that old dishware out and hauling in the new one?
If you are completely at a loss, start by making a list of everything that is broken, stained, or otherwise undesirable right now. Here are just a few ideas to get you started:
- The fridge that gobbles electricity and/or no longer works properly.
- The sink that is scratched, cracked, broken, growing mold, or otherwise unsightly.
- That laminate flooring that is yellowing.
- Those broken tiles…or all of the tile.
- That old stove that is a huge pain to clean (trade up with a sleek glass-topped one).
If you aren’t remodeling out of necessity, you are free to make changes based on “because I want to.” Either way, getting ideas for sexy new layouts, color, textures, and more is a great way to start building a kitchen remodel budget. Try magazines, TV shows, or even the Internet to get more ideas than you can handle.
As you go, make note of items you want and their “average” prices. This will help you build a “want” budget. I.e., the budget required to have everything you want.
Determine How to Pay For the Kitchen Remodel
Finally, it is time to go through what is available to you. Contractors and designers have it easy because they will simply get the budget from their clients, but the client may have some difficulty deciding what they can actually afford. The two most common options to look into are:
- Current savings (if they are not deemed as emergency savings).
- Equity. You might be surprised to find out just how much is waiting for you in an equity line or loan.
Discovering what is available to you will give you a “have” budget. Quite often, you will find yourself with a gap between the “want” and “have” budgets. If this is the case, it is time to close that gap by shopping for better deals on quality kitchen remodel supplies. If you still see a gap after hunting down the best deals on what you need, you may need to put off some of those things on the “want” budget. Add them to your holiday or birthday wish list instead!
Following these steps will help you better understand and envision what is truly possible for that kitchen. Once you’re there, it is easy to start Planning a Kitchen Remodel, which just happens to be what the next blog in this series is about!
