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Kansas City Home - 7 Steps for Budgeting For Your Kitchen Remodel

Wednesday, November 11th, 2015 by Jeremy Raglin

Step 1 – Decide On the Exact Amount You Want to Spend

The first step towards setting a budget for the kitchen remodel in your Kansas City Home is to decide on the exact amount of money you want to spend then stick with it.

Step 2 – Confirm How Long You Expect To Stay In Your Kansas City Home

When you think about renovating the kitchen in your KC Home you should view a kitchen remodel as an improvement to your Real Estate Investment.

Your goal should be to spend the amount of money you can expect to get back from the sale of your Kansas City home especially if you plan on living there for more than five years.

Step 3 – Think about Your Neighborhood

You may love your neighborhood but, if you plan on spending big money on a grand kitchen renovation it’s possible that you won’t get back what you invest in your home because, buyers won’t want to pay the price for your home if they can purchase a comparable home in the same neighborhood with a lesser kitchen.

Step 4 – Allocate Enough Money by Breaking down Your Costs

When renovating a kitchen you can expect that labor will consume up to 35 percent, or more, of the project cost so it’s important to make sure that you devote enough money to each phase of your kitchen renovation.

Here’s a breakdown of what you can expect to pay for each phase of your kitchen remodel:

  • Cabinets – 35 percent
  • Labor – 20 percent
  • Appliances – 20 percent
  • Widows – 10 percent
  • Fixtures – 5 percent
  • Fittings – 3 percent
  • Miscellaneous – 7 percent

Step 5 – Allocate 20 Percent of Your Budget for Unexpected “Surprises”

As with any renovation it’s possible that you will discover “surprises” during one or more phases of your project, this is why it’s important to think about the unexpected and devote at least 20 percent of the budget for your Kansas City Home Renovation so you can have money available to cover specific issues when they arise.

Step 6 – Ask yourself: “What’s The Most Important Part of My Renovation?”

In your mind you may see your dream kitchen but the reality is that you might not be able to get everything you want, at least in the beginning, due to issues that may arise during your kitchen renovation, that’s why it’s important to determine what’s most important to you when renovating your kitchen.

Will the kitchen in you Kansas City Home have a farmhouse sink, island, pantry, subway tile backsplash, skylight, recessed lighting or plenty of cabinet space?

Before your renovation starts you should think about what’s important so that if your contractor tells you to choose between A. adding the farmhouse sink or B. adding more cabinetry, you won’t have a problem choosing between the two.

Step 7 – Think about How You’re Going to Pay for the Kitchen Renovation

Last of all, but most important, think about how you’re going to pay for the kitchen renovation because, it’s possible to spend hundreds, if not thousands of dollars more when renovating your kitchen if you borrow money at a high interest rate when you could have refinanced your mortgage or even taken a loan out against your retirement plan.

Get Kitchen Renovation Tips Here

For more tips on what it will take to renovation the kitchen in your Kansas City Home contact Arrow Renovation today by calling us at 1-(816)-956-5001 or click here to get a free estimate or inquire about our services.