Your kitchen is the heart of your home, and the room in which most everyone spends time together. Because of this, it is often the most commonly remodeled room. Before you get started on a kitchen remodel, it is important to set a realistic budget to ensure that your project is affordable, and that the outcome is what you were hoping to accomplish. Setting the budget is not difficult and should not take more than an hour of your time, but it is one of the most important things that you can do.
- Set a dollar amount – Start by setting a total dollar amount that you can afford to spend on the remodel. This will give you a number to work with as you begin to break things down into categories.
- Break down the costs – Now that you have your total dollar amount set, figure out how much money you want to spend in each of the following categories: cabinets, appliances, flooring, and fixtures. You do not have to remodel every area; this is a great time to decide which areas are the most important to you. Once you know what you want to change, you can begin finding affordable options, including a stainless steel kitchen backsplash, counters, or appliances.
- Prioritize the changes – Make a list of priorities of the above changes. For example, if kitchen cabinets are a priority to you, and you want stainless steel cabinets, you will need to set aside enough money for those, and then divvy up the remaining money as best you can in the other categories.
- Set aside an emergency fund – Most projects do not go on without complications, especially kitchen remodels. It is best to set aside at least 20 percent of the total budget for emergencies, to prevent any issues from arising in the future, and causing you to be unable to finish your kitchen remodel.
