While you may or may not want to start a kitchen renovation right this second, there’s no reason not to use this time at home to start planning! And when it comes to planning a remodel, it usually starts with creating a smart investment strategy.
If you’ve never budgeted for a kitchen renovation before, you might have only a vague idea of what the total investment really looks like. Or maybe you have no idea. Which is also okay. We all start somewhere.
In any case, let’s take it from the top...
To know how much you’ll be investing in your kitchen renovation, you’ll need a budget. A budget, not to be confused with your TOTAL investment, is an itemized list of the funds that will be allocated to various aspects of the renovation.
You can see that true budgeting requires researching, getting your team together, making a real plan (not a rough one), getting realistic quotes, and of course, TIME...
...which is precisely why it’s so difficult for me to give you an accurate cost estimate without looking at the property in question!
So, what’s my point? The point is to be aware that this will be the eventual process for a real functioning budget. For now (because I know you’re looking for a number), we’re going to talk in general investment ranges.
As I said above, it depends on the kitchen, but there are two components to the overall cost of any and EVERY kitchen reno: labor and materials.
Unless you’re renovating a super high-end luxury kitchen that will have all the bells and whistles of a commercial grade kitchen, your investment in LABOR is more or less the same. That makes labor a fixed (and non-negotiable) expense.
Materials vary widely in cost and therefore contribute most to variations in investments. Before we can estimate or calculate your materials investment, we need to know whether the home we are remodeling is a budget home, a move up home, or a luxury home. Each of these comes with different material choices and slightly different features, which will affect your total investment.
Entry Level Kitchen in Dallas: $7-12K
Move Up Kitchen in Dallas: $15-25K
Luxury Kitchen in Dallas: $25K-50K+
Again, these are general, average ranges based on my many years of being involved in Dallas kitchen renovations. Yours might be different, but this is what I’ve seen to be true.
There are a few ways you can control costs in a kitchen renovation without skimping on style. YES, even a budget renovation can look nice!
If you’re renovating your kitchen as the homeowner, I highly suggest working with a designer who knows trends in real estate. If so, they will be able to deliver a kitchen that is timely and timeless. (Never let your General Contractor make design decisions!) The idea is that, should you decide to sell your home in the next few years, the home will still hold up its value. I think we all want that, right?
The other benefit of hiring a professional (versus doing it yourself) is in saving on costly mistakes. The cost of a single expensive mistake made on your own could likely have paid for the professional to do it right the first time. And saved you the stress and heartache of investing twice. So I say do your homework and go with a professional you trust.
Just because you are working on a budget-friendly or move up kitchen it does not mean that it has to look ugly. You can have a well put-together kitchen on a small budget by adding classic elements. Such as an inexpensive subway tile and on-trend hardware and faucets. Even painting the cabinets white will do the trick.
This is where hiring a design professional is worth its weight in gold, because your budget-friendly kitchen won’t look like it was pieced together — it will look well worth its selling price!
I hope this post has given you a foundation for what a kitchen renovation investment looks like, as well as some tips for planning your own.
If you need a professional opinion on what your renovation will take (and how to do it right the first time!), I’d be happy to support you. Book your free discovery call here, and let’s chat!
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