Top 5 Ways to Save Money When Remodeling your Kitchen
Finding the perfect home for you and your family can be tough enough, but often the real challenges come after you settle in and need to start remodeling. Home buying is an investment and making the right remodels can help add value to your home giving you a better return on investment when you’re ready to sell your house.
Kitchen remodeling is tricky. The kitchen is an of the epicenters of any house and outside of bedrooms or family rooms, gets the most use out of any other room. According to Home Advisor, the average cost of a kitchen remodel is $23,887 or $150 per square feet. For that price you could buy a car! We’re in an era where people aren’t looking to break the bank over home remodels, opting instead for cost-saving measures to get the best deals. If done right, you can remodel your whole kitchen for a low price and get all your money back and then some in home value.
Reuse existing material
On the Food Network show, Restaurant Impossible, chef Robert Irvine along with a designer and a builder are given just 24 hours to save a failing restaurant. In addition to creating a new menu, retraining the staff and management, they also give the place a whole new aesthetic. Oh, they also have just $10,000 to do the whole thing. Part of how they save money on remodeling is by reusing old materials to create new ones.
One quick and easy way to save money on remodels is by ‘refreshing’ your cabinets instead of ‘replacing.’ HGTV estimates that new cabinets can sometimes account for nearly 50% of your total remodeling budget! Repainting over your cabinets is a great way to keep costs under control. On average simply refinishing cabinets will run you anywhere from $2,500 to $5,000 while full replacement can run you $6,000 to $10,000. Taking materials from existing parts and using them to build new ones can save a ton of money.
One other cost-saving option for those more DIY-incline is purchasing RTA (ready to assemble) cabinets. These cabinets come pre-made from the manufacturer, but do not include the cost of labor to install, allowing the buyer to do it themselves. This can save about 30% of the cost of regular full installation.
A huge way to save money on remodeling projects is buying second-hand materials and appliances. Outlets like Habitat for Humanity’s Re-Stores offer hardware, fixtures and appliances at vastly discounted rates compared to buying brand new. If you’re trying to redo your kitchen on a budget, discount stores can be your best friend. From sinks to tiling, second hand stores can be a lifesaver when it comes to saving money. Other stores like Home Depot often have ‘scratch and dent’ sections for appliances that are still in good shape but slightly worn. Such appliances can often by 50% off the original price. If you’re looking for savings, be sure to look into these sections. Shopping at pre-owned stores is another way to find great deals on kitchen appliances without spending a fortune on brand new ones.
Work Within Your Existing Layout
Some people envision their remodels to look completely different from how it looked before. Yet if you’re really trying to do things on a budget then there’s no doubt that working within your kitchens current layout will save you a ton of money. The cost of moving a wall can get up close to $10,000. Rather than taking out walls, adding on and building an all new layout, working with what’s already in place is an immediate money saver.
Saving on counter-tops
Counter tops are another huge expense in remodeling budgets. Sadly some of the most popular options; granite, quartz, and concrete are all very expensive to install. According to Home Advisor, the average cost of installing quartz counter-tops ranges from $1-5,000. Fortunately, there are other options significantly less expensive. If you want a nice looking counter-top but also want to work within a budget, you’ll want to get heavily acquainted with laminate. The reality is, you can’t really ‘budget’ granite. While a granite counter-top can cost up to $250 per square foot, laminate runs just $15-25 per square foot. Stores like Home Depot and Lowe’s often have big slabs of laminate you can purchase and have ready to install the same day. Stores like IKEA also offer a wide variety of laminate counter-top options.
Stay simple when remodeling backsplash
The backsplash of a kitchen is usually an afterthought for most people. It often gets overlooked by the appliances and counters. Find the right backsplash for the right price without sacrificing your envisioned look can complete your kitchen. Stainless steel is by far the most expensive running a steep $67-95 per square foot. A simple subway tile is much more cost effective and still looks great. Subway tiling typically runs just $7-13 psf, a huge savings compared to stainless steel. Ceramic tile is the least expensive option which usually runs between $2-12 psf. Stainless steel looks great, but can really eat a hole in your wallet. Subway tile is a timeless look that runs a fraction of the cost.
There are many ways to cut back on expenses when remodeling your kitchen. From reusing old materials to make new ones, repainting existing cabinets instead of buying new ones to picking inexpensive counter-top material, you can redo your kitchen and still have it look great without having to take out a second mortgage. Cost effectively remodeling your kitchen allows you to upgrade your home and add to its value which in return helps you gain back or make money when you want to sell it.