What is my Remodeling Budget?

2 weeks ago, I wrote a post about setting a budget for your kitchen remodel. After getting some great feed back on that post, I realized most customers don't know HOW to set a budget, or where to start.

We have found this to be a helpful budget calculator to find what a good budget for you kitchen remodel might be:

Most homeowners will spend 15% of their homes value on a kitchen remodel.

Of that number:

35% gets spent on Cabinetry

11% on Counter tops

12% on Appliances

9% on Lighting

3% on Drywall

7% on Flooring

3% on Plumbing

20% on Labor

Using this formula, redoing a kitchen in an estimated $500,000 home should cost about $75,000.

$26,250 will be spent on Cabinets

$8,250 on Counter tops

$9,000 on Appliances

$6,750 on Lighting

$2,250 on Drywall

$5,250 on Flooring

$2,250 on Plumbing

$15,000 on Labor

Obviously this is a standard formula and it can be tweaked in either direction, but it does give homeowners and contractors a great starting point. Customers can always go above budget or below, but it is important to try to stick to the value of the house in terms of re-sale. If you put more money into the kitchen than your budget allows you MAY not get that back out when you go to sell your home. Vice Versa, if you but less into a kitchen remodel, you many not get as much back at re-sale either because the new buyers may need to spruce it up.

All in all, you need to make you kitchen your own. Personal touches here and there add depth and character to you kitchen. Even if you plan to sell your home soon. Make sure the kitchen is a space you are happy in. Most of the time, that will translate into others being happy there too!

http://www.hicksdistributors.com/

Designing custom kitchens in Bucks County, Montgomery County and Philadelphia County,Pennsylvania.

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