It’s a big decision to make when you choose to remodel your kitchen. But doing it well is just as important as doing it at all.
If you’re not the one to plan your own kitchen makeover and want to leave it to the experts, The Australian Kitchen Company is a great choice for your next kitchen remodel.
But if you’re interested in managing the process yourself, here’s what to keep in mind.
Decide On Your Budget & Stick to It
The idea of having a concrete budget and not wavering from it sounds simple, but its harder than it seems. The first thing to do is look at your finances and decide how much you can spend.
The next idea Is how long you want to remain in the home. If you are thinking of selling your home within five years, renovating your kitchen should be seen as an improvement to your investment property. Only spend what you think you’ll get back when you sell the house. If you plan to live in your home for more than five years, you should make renovations that make you and your family the most comfortable. The next thing to consider is your neighbourhood. Is it modest or sophisticated? If you invest in a high-end kitchen in a middle-class neighbourhood, you will lose money on your investment when you sell your house.
Understand How Cost Breakdowns Work
If you’re planning your own renovations, you need to know the general breakdown for your kitchen costs. Surprisingly it’s not the appliances that eat up costs, it’s the cabinets.
Here’s a general breakdown:
Over 20% of costs:
20% of costs:
10% of costs:
Under 10% of costs:
Set Aside a Percentage for The Unexpected
You will encounter surprises during the kitchen remodel, especially in an older property. There are all kinds of budget surprises hidden behind the walls or under the floor. Like when you renovate the walls and discover the electrical wiring is faulty. Or you pull out the dishwasher and discover the floor underneath is rotten thanks to a water leak you didn’t even know was there. Leave some space in your budget to cover these surprises.
Make A List of Your Priorities
Know what’s most important to you. Is it the appliances? The cabinets? Note down your priorities so that when unexpected expenses hit your budget, you still do the most important things on your list. When you make this list, remember that things like moulding and faucets are important for the look and function of your kitchen, so try not to skimp on everything.
Know How You’ll Pay
There are many ways to pay for a kitchen renovation but topping up the mortgage is the most popular. Other options include taking out a personal loan or borrowing against a retirement plan. If you do get a loan, remember to consider costs like interest and fees. Also, know when the funding will come in as many people like the carpenters will want a deposit.
Will You Live at Home During the Renovation
Living away from home while the work is done, is a safe option if you have children or pets, who will be stressed by the changing conditions. If you choose to do this, put into your budget the cost of an apartment or hotel, moving fees and storage fees as well.
If you stay, you may have a lot of disruptions in your daily life. You could make a temporary kitchen, and this should make it into your budget. The one thing you should consider if you remain at home and are without a kitchen is the fact that you’ll be buying way more takeout than usual.