Kitchen remodeling has a high rate of return when it’s time to sell a home – 78% according to the Cost vs Value National Report. But even with a high rate of return, it still helps to save where you can. After all, even a basic kitchen remodel will likely cost $15,000 to $25,000. But that’s pretty basic. Experts recommend allotting 15% to 20% of the value of your home for a kitchen remodel.
- Hire professionals. Doing some of the work yourself is a great way to cut corners but being honest with yourself can save even more. Kitchen remodeling disrupts life at home. If you can work only on weekends or you’re relying on your uncle-who’s-a-contractor to stop by and finish it in his spare time, you may save money on eating out (and marriage counseling) by hiring someone else. Plus, if you’re inexperienced and mess something up, you may end up having to call someone out to fix your blunder anyway.
- Maintain the kitchen’s basic structure. If you use the same layout and cabinetry, you’ll save both time and money. From there, go with what’s in your budget – new paint may cost the least, up to new cabinet facings, to new cabinet doors. Switching out the cabinet hardware freshens things up, too, but be careful of your costs there. New knobs, handles and hinges add up, so you may want to shop around.
- Think about specific elements you can still use, at least for now. Can you keep the sink and replace only the faucet? Continue using the dishwasher that was replaced just last year? Will the same light fixtures work for your new style?
- Choose faux finishes or lower-grade materials for countertops. You may be surprised at the solid-look countertops that are both beautiful and durable. Don’t pass them by automatically; they could save you hundreds or even thousands and be easier to care for, too.
- Refurbish existing flooring. Rather than tearing out existing floors, work with what you have. If there’s no way to refinish it, consider replacing it with an inexpensive laminate flooring. Whatever you choose, calculate the cost of installation, not just of the material itself, when you’re making your budget.
- Keep it simple, Smarty. When you’re designing your backsplash, choosing a simpler design will make installation easier, faster and cheaper. Ceramic tiles are both beautiful and less expensive than other options. You can also recue your costs by limiting the height and width of the area you cover.
- Take time shopping. Though contractors may be able to get a better price on items, and they may prefer to source their own materials, take your time to carefully shop around and compare prices. You may be able to find overstocks, slightly used returns or display items for a good price.
Saving money is great but remember that the kitchen is the heart of the home, and you’ll want to be happy with the results. Sometimes, spending a little bit of extra money can save something even more precious – your peace of mind and feeling of satisfaction when it’s done.