While some can well afford to buy those things that they want for their dream kitchen and bathroom, some may crash down to what is more affordable. Here are a few ways to budget your kitchen and bathroom remodeling costs.
2. • While some can
well afford to buy
those things that
they want for their
dream kitchen and
bathroom, some
may crash down to
what is more
affordable. Here
are a few ways to
budget your
kitchen and
bathroom
remodeling costs.
3. • During the first stages, a home remodeling
project can be really fun and exciting. Things like
pinning some inspiration photos to get some
cabinet style, flooring, painting palette, and
bathroom tiles ideas. You get to imagine how
you want your kitchen and bathroom would like
after remodeling. And then, here comes the
budget. Regardless of whether you have enough
or limited funds for the project, you will still have
to allocate a certain amount for each of the costs
needed to complete the project. Here are some
simple ideas that can help you budget your
kitchen and bathroom remodeling costs.
4. Set the amount that you are willing
to spend and stick to it
• Setting and deciding how much you are willing to spend
for remodeling and sticking to it is easier said than done.
In setting a budget, you need to consider some factors.
One factor to take into consideration is your finances.
This will help you determine whether you can afford to
carry out an upscale remodeling or not and know how
much you can really afford. Another factor is the length
of time you intend to live in your house. Are you planning
to sell your house within three years or so? If yes, think
of the renovation as an investment. That means, only set
a budget that you think you can get back the moment
you get your house sold. On the other end, if you plan to
live in the house for a lifetime, consider a remodel
project that will make you feel more comfortable living in
your house.
5. Break down your budget
• Now that you already know your budget, the next puzzle that you
need to solve is the breakdown of the entire budget. Most often, the
labor cost can range from 20% to 35% of the total budget cost. On
average, kitchen and bathroom remodeling project can have a cost
breakdown of:
• 30 percent for the cabinets
• 25 percent for the labor
• 20 percent for the appliances
• 10 percent for the windows
• 5 percent for the fixtures
• 3 percent for the fittings
• 7 percent for others
6. Keep the 20% of the budget for the
unexpected
• Sometimes, you can't just get rid of
unexpected costs. To be sure that
you can stick to your budget even if
something unexpected came up, be
sure to allocate at least 20% of the
budget for the unexpected
circumstances.
7. Hiring contractor for small projects
• Decide whether you will hire a
contractor to do small projects or do
them yourself. Demolition jobs like
taking out flooring, rearranging
appliances and dismantling old
cabinets are among the simple and
small projects that you can do
yourself.
8. Prioritize what needs to be
renovated first
• Decide on what is the most important
and what needs to be renovated first.
Do you need to get new appliances?
Upgrade your floor tiles? Install new
cabinets? List down all the things you
want to improve and prioritize them.
This is to ensure that you still get to
complete the most important in the list
even if there are unexpected costs
that may hit your budget.