Depending on the potential size of your kitchen renovation, you could spend anywhere from $12,000 to $30,000 to even $60,000. Your aesthetic tastes will likely be one of many factors that increases your budget, but is going through a large remodel worth investing in? That’s what we’re here to find out.
Factors to Consider
Several things can affect the cost of your kitchen renovation, altering whether or not the project was actually worth it depending on the end result. Factors such as extended timelines, where you live, the size of the renovation, what work you’ll do yourself, and more. While doing the demolition yourself will save you some money in labour costs, it can also cost you a lot more if you damage piping or any electrical wiring. It’s best to leave the bigger jobs to the professionals and save smaller tasks, like painting or installing hardware, as something for yourself to accomplish. Want to hire an architect or interior designer? Then those are additional costs you’ll need to consider when making your budget.
Breaking Down Costs
In order to help you better calculate a budget that suits your financial situation, you’ll need to research how much certain stages of the renovation are likely to cost. You’ll also need to take into consideration what materials you want to use and which finishes can run your budget skyward immediately. Depending on how large of a renovation you’re considering, about 40% of it will go towards countertops and cabinets, if those are elements you’re looking to replace. Replacing appliances? Around 14% of your budget will go towards that. Installation and labour take up almost 20%, while lighting, flooring, plumbing, windows and other elements will make up a smaller percentage of your budget. To accurately create a budget that will result in a quality renovation, whatever number you’ve come up, make sure to add an additional 20% in potential emergency costs. You never know what will happen or what you’ll find when walls get torn down and floors get pulled up.
It’s worth the cost, effort and sleepless nights that come with a kitchen renovation when it’s a space you spend a lot of time in. tailoring everything to best fit your needs adds value to the project you might not have believed in throughout the process. Thinking about selling your house in the future? Then this kitchen remodel didn’t just add value to your life, but it’s definitely increased the resale value of your home.
The Disadvantages of Remodelling
The complexity of successfully completing a kitchen renovation is probably the biggest disadvantage when it comes to committing to such a large project. As a kitchen in itself serves several purposes, making sure all those pieces are properly incorporated is a challenge. Kitchens are commonly used for cooking meals, entertaining friends and family, making your day-to-day activities easier and more convenient. Many things need to be worked out to create a successful finished product, and that can be incredibly overwhelming, especially when more things than expected go wrong.
At Alex Chong Building, we’re a full-service construction firm located in London, Ontario. Looking to renovate your bathroom, kitchen or basement? Be sure to give us a call to get your project started today.