Updating the kitchen in your home this summer is certainly an exciting proposition, but it is also an expensive project to undertake. You will likely love the finished product when all the work has been completed and the mess is gone – however, you don’t want to check your bank account at that point to see that you have drained away all of your savings in the process. Budgeting is a crucial part of any renovation project, as you need to arrive at the end of the work knowing that you haven’t blown every last penny on the job.
With that in mind, thinking about how to budget your job should be one of the first steps in a kitchen rebuild. After the math has been done, you can then move on toward the fun parts of the job such as picking out a design, selecting materials, choosing colors, and more.
Big Items First
It is the big, expensive items that are going to go most of the way toward determining your budget for this project. Sure, there are countless little expenses that can also pile up along the way, but those will seem rather insignificant in comparison to the big ticket items. Specifically, there are four items that you should carefully consider from a budget perspective right from the start of the job –
- Labor
- Countertops
- Appliances
- Cabinets
These four points are going to make up the majority of your budget for any given kitchen remodel (you may need to add flooring to this list as well, depending on your specific plans and the size of your kitchen). Labor often accounts for about half of the overall job, depending on whether or not you are going to do some of the work yourself. Countertops, specifically stone counters, can become expensive in large sizes, so you want to ballpark that expense early on as well. The story is the same with appliances and cabinets, each of which can run well into the thousands and beyond.
Contingency Fund
Very few construction projects go exactly as expected from start to finish, so you shouldn’t be expecting your project to include nothing but smooth sailing. Unexpected costs are a standard part of the construction business, and you need to be prepared accordingly. When budgeting for the job, plan on having between 10% and 20% of the total project cost available for overruns. Hopefully you won’t actually need to use this money, but it should be available just in case. Having a contingency fund for the project will allow you to relax a bit and enjoy the process.
If you are getting ready to start with a kitchen remodel, feel free to contact Stone World at your convenience to get an estimate on the cost of a stunning stone countertop. We will be happy to work with you right from the start of your project so that you know exactly what kind of a bill you will be looking at for your counter. We believe that no new kitchen is complete without a beautiful stone surface, so call us today to get started!
