Four Ways to Set A Budget For Your Kitchen Remodel

Budget Tricks For Your Kitchen Remodel Lifestyle Cabinetry and Millwork

Finding the right balance between the ideal kitchen for your home and a budget your wallet can live with is often problematic. After all, there are all sorts of amenities and upgrades that can be included in a 21stcentury kitchen. Fantasies aside, developing a budget should be the number one priority.

In fact, the prudent homeowner is well-advised to take a fairly reasoned approach to the process and to not overextend themselves from a financial perspective. With those thoughts in mind, here is the three-pronged approach for creating a realistic kitchen remodeling budget before spending a single cent:

  • Prong One – Understand what you want – At this initial stage, the sky is the limit when it comes to a homeowner’s choices for upgrades. Still, they should realize that there is a finite amount of space in the kitchen – as well as money in the budget! – for installing these amenities. Add as many of them in as you want but realize that you will eventually have to make some considerable concessions later in the process.
  • Prong Two – Understand what you need – This second stage of the process requires quite a bit more careful consideration as you will really have to drill down to what works best for your family and its lifestyle. In essence, you will have to decide what the utilitarian needs of the kitchen are. In other words, is a dishwasher more important than a wine cooler or vice versa. In most cases, the decisions are quite obvious.
  • Prong Three – Understand what you can afford – Now, comes the hardest part of the process – removing upgrades that are desirable but actually unnecessary. As they say, “money talks” so unless you have an unlimited amount of it, you will have to make some hard choices. Start by establishing the outside range of your budget and then include all the basics. Whatever amount of money is left over will allow you to customize the remodel. Do not forget to leave a ten percent allowance for unforeseen circumstances.
  • Consolidate all three prongs – This stage is definitely a balancing act. Take your time with the initial decision. Then, wait a day or two and revisit the decision with your spouse and family. Repeat this process until you are completely satisfied with your final decision. It is far better from a cost perspective to go back and forth at this point – where it costs no money to change your mind – than later in the process when you have actually started the construction.

Indeed, setting the budget for a kitchen remodeling project does require a lot of self-discipline but it is well worth the effort in the long run as you will not overextend yourself financially. Simply put, it is much better to do with less than to spend more than is appropriate. After all, you can always upgrade again later. For more specific information on these budget questions and on other suggestions for effectively and affordably remodeling your current kitchen, please contact us at Lifestyle Cabinetry and Millwork. You can visit us online or reach us directly at 833-782-2227.