Who doesn’t dream of having a big, bright, and beautiful kitchen? A serene and fulfilling space in their home to cook, live, and host? If you're reading this blog post, it's safe to assume you do too.
But at the end of the day - the vision you have for your space also needs to match your budget.
Before starting to design your kitchen remodel, there are two big questions you'll want clear answers to: How much money you have to spend on your project, and just how much your kitchen remodel should cost. That little dose of financial reality at the outset will help you and your design and build partners achieve the best outcomes.
Now, according to Home Depot, the average cost of a complete kitchen remodel ranges from $24,000 all the way up to $136,000. That's a pretty wide range, which means there are a few key decisions you as a homeowner will make, that can significantly impact the overall size of your budget.
(Keep in mind, the total also will differ depending on location as material and labor costs can vary significantly from region to region.)
Besides the location of your kitchen remodel project, there are three major factors that will contribute to the size of your remodel estimate: the scope of your project, the size of your space, and the level of finishes you choose.
The exact scope – or extent – of your kitchen remodel project will determine the remodel estimate. You might just be looking to give your space a little refresh, and your project is mostly cosmetic: repainting the cabinetry, replacing hardware, etc. But once you go to replace those cabinets entirely - the scope of your project starts to increase, and with it, the budget.
Or perhaps the current layout doesn't work for you - that requires moving or adding utilities. Skilled labor such as plumbing and electrical work will quickly start to add up. Removing or relocating walls in your kitchen may well be worth it, but will require technical input from a structural engineer and/or architect - you'll need to bake that into your cost as well.
If you are remodeling the kitchen in a small condo, the cost will be drastically different than a similar remodel in a 3000-square-foot home.
The size of your kitchen will play a huge role in both your labor and material costs. Most material will be purchased by the square footage for your kitchen remodel. In a larger kitchen, you may be purchasing two to four times the amount of backsplash tile that you would in a small kitchen.
The fixed cost of appliances should remain the same depending on the size of your kitchen (we'll talk about when to splurge in a minute) but plan on spending more on cabinets, countertops, and flooring, as well as rough materials, drywall etc. if your kitchen is on the larger side.
Beyond the quantity, the quality of the finishes you choose will have a big impact on your remodel estimate. Not all materials were created equal.
For example, when purchasing countertops, materials such as butcher block and laminate will be a much lower cost when compared to a marble or porcelain. There are also granite and quartz options that typically fall somewhere in the middle. This same principle applies to your cabinet, flooring, backsplash, and appliance choices. If you want to splurge on a higher-end finish, or a high-performing appliance package, find a balance by pairing it with more budget-friendly options.
Consider the overall value of your home, and choose a level of finishes that stands up to that value.
And last but not least, don’t forget to include contingency costs in your overall kitchen remodel budget! A contingency budget covers those unexpected costs that inevitably find their way into your project. Issues such as water leaks, damage behind walls, or material shortages can tack on extra cost. Most homeowners budget somewhere between 10% - 20% of the overall project cost to cover those unforeseen circumstances.
Eager to get your kitchen remodel project started and narrow in on your budget? Start planning your renovation or remodel with Beam today, using our instant estimate tool. Customize your estimate based on the size, scope, and finishes of your kitchen remodel.