How to Save Money on a Kitchen Remodel

How to Save Money on a Kitchen Remodel

 

Kitchen remodeling projects are one of the few investments that always make sense for a home. If this space is over ten years old, you can save significantly by updating your appliances, counters, and fixtures.

If you blow up the kitchen to do a full remodeling project, the cost could be close to $30,000. That’s the bad news.

Here’s the good news you want to hear. Most properties recoup about 80% of that investment into increased home values. That means you’ll get back over $20,000 in equity, which is cash in your pocket when it’s time to sell.

If you know how to save money on this project, you’ll get even more equity to use for other purposes.

1. Know Where to Splurge

Think about how you use your kitchen. If it is the place where you cook, put your money toward better appliances. When it’s your social space, it makes more sense to add an island and places where people can gather. Where you don’t need to spend a lot is the countertop. 

Although granite and marble are the preferred items of many homeowners, laminates and engineered replicas create a similar look for a fraction of the cost.

2. Focus on Appliances

When you replace the appliances in your kitchen, look for energy-efficient models to cut down on your utility costs. Cooktops last longer than refrigerators for most people, which means it might be better to buy a cheaper version of the latter appliance.

If you have kids at home, it’ll make more sense to buy a top-of-the-line dishwasher. A family of six goes through lots of dishes each day, especially with everyone spending more time at home because of 2020’s events. Investments that make your life easier also make sense!

3. Cabinetry Practicality

Did you know that a Lazy Susan can add up to $2,000 extra in your kitchen remodeling budget? You could buy some base units to fill up a significant portion of your storage space for a similar amount. 

The items you’ll want for the modern kitchen include a waste recycling area, soft-close drawers, and ergonomics. It might be worthwhile to pay for your cabinets to go up to the ceiling to have more storage.

4. Be Smart with the Hardware

Handles, pulls, and knobs can make your kitchen look new without significant modifications. Depending on the style and material purchased, you could complete this update for under $100. Where you need to be careful with your remodeling project is when custom items are required. 

If you buy these items from customer designers, the cost can exceed $100 per unit. Do you need oil-rubbed bronze, or will stainless steel be good enough to achieve your desired look?

5. Porcelain Tile

You can use ceramic tile for your backsplash. When you settle on the kitchen floor, always use porcelain. It’s a more rigid surface with more chip resistance. Larger tiles give you an updated look without the need to manage numerous grout lines.

A kitchen renovation project adds convenience, comfort, and value to your home. That’s why it makes sense to invest your money there. 

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