How To Budget For A Kitchen Renovation

A beautiful new kitchen is at the top of every homeowners wish list. For most, it’s one of the biggest renovation investments a homeowner will take on. It takes planning and time and if you're wise; a lot of research before you dive in. When clients reach out to me for assistance, they’re usually at the point where the excitement around the thought of a new kitchen has turned into apprehension at the realization of just how colossal a kitchen project can be. We all know how much fun it can be to search through blogs and websites, saving your favourite designs and kitchen features, dreaming up your new and improved layout with gleaming quartz counters, luxury appliances and innovative storage. The truth is, it’s not as easy as the design shows make it look. It takes a great deal of time, attention, coordination and real design talent to make a kitchen space functional and magazine worthy. If you want your kitchen renovation to go off without a hitch and bring the kitchen of your dreams to life, here are a few tips to consider:

How Much Will My Kitchen Renovation Cost?

The best place to start when planning a kitchen is to understand how much you are looking to spend. If you aren’t realistic about each of the costs you will need to consider you may end up with a budget you are not comfortable with. All too often I have the undesirable job of bursting my clients bubble when it comes to their budget and how far it will take them. It is beneficial to crunch the numbers at the start so you aren’t in the dark about how much a mid to high end kitchen renovation will cost. It can be helpful to make a wish list of your dream kitchen items which can be used as your jumping off point. The breakdown below covers all of the elements that will make up the total cost of a new kitchen. 

For example, if you have $75,000 to spend, you should set your appliance budget somewhere around 18% ($13,000-$14,000) of your total budget. Compare how this number measures up to the total cost of the appliances on your wish list. If you have a shortfall, revisit your wish list, is there another area of the project you can borrow from? If not, perhaps you want to increase your budget to meet your wants or do you need to make the difficult decision to remove something from the list entirely.  This exercise will help put a better financial perspective on your project before you begin.



Should I Hire an Interior Designer?

The average homeowner replaces a kitchen twice in their lifetime and that’s definitely not enough kicks at the can to become an expert. Of course, I may be a tad biased when it comes to the value designers bring to the table, however I can guarantee budgeting for a designer will save you time and frustration. Most experienced designers have been around the block a time or two and have dozens of kitchen renovations under their belt making them experts in their field. Designers are a wealth of knowledge, and their experience has taught them valuable insight into thoughtful layouts, high performance materials, smart ergonomics, beautiful aesthetics, and quality construction. Experienced designers have developed a process that covers all the bases to guide the homeowner through a smooth kitchen renovation and ensures every element is addressed. Designers know just how to get inside their client’s head and create a space that reflects the needs, style and personality of the homeowner. Even if a client is familiar with what style elements they are attracted to it can be difficult to understand how to execute a design and bring a concept to life. If the thought of interviewing and hiring a contractor gives you a rash you can kill two birds by working with a designer. You can rest assured that experienced designers align themselves with high quality experienced contractors that they have built a strong relationship with and trust to execute their designs flawlessly. This is an added bonus for you the homeowner as the pre-screening for the trade services you will need has already been done.

The slippery slope

When budgeting for your renovation be aware of what we designers refer to as the “slippery slope”. These are costs that are often overlooked or not considered when pre planning for your renovation budget. Inevitably certain changes will spill out into other areas of the home simply because it makes sense to replace them in tandem with the kitchen. There are many elements in your home which are not just exclusive to one room, as such, the cost can add up. Here are a few of the common ones.

Windows & Doors 

Should I Replace My Windows & Doors While Renovating My Kitchen?

As part of your kitchen renovation your designer or contractor may bring to your attention the need to replace aging windows or doors. In most cases, your windows and doors are similar in age to the kitchen you are looking to replace. It would make little sense to install a beautiful new backsplash and casing around a kitchen sink window that has a very limited lifespan. If the windows and doors in the kitchen area need replacement it may make sense to replace windows in rooms adjacent to the kitchen, as this will help with the aesthetic and design consistency in your home. Windows and doors are high price tag items that can eat into your budget, so it is best to plan ahead and be aware of just how many you will be investing in.

Flooring

How Do I Budget for Kitchen Flooring? 

Most kitchen cost breakdowns allocate between 8%-10% to flooring, but this estimate is generally limited to the kitchen area. If your intention is to only replace the floor in the footprint of the kitchen you will likely succeed in hitting the mark on the budget. However, in some homes the floor of the kitchen carries into the surrounding rooms, in the case of hardwood, potentially the entire main floor. Chances are that you will want to carry the newly selected hardwood throughout your main floor, instantly doubling or tripling the cost of replacement. This is an unavoidable expense if you are looking for consistency and typically it makes the most sense to tackle it all at once.

Trimwork 

How Much Will it Cost to Replace Trimwork? 

In preparation for the new kitchen install much of the baseboard and casings will predictably need to be removed. Trimwork styles, much like kitchen design styles change over time and there is a high likely hood you will want to update to new, larger and current trim profiles while updating your kitchen. It is important to keep in mind the transition from room to room as trimwork profiles are an important item to keep consistent throughout your home. When budgeting for your kitchen expect to allocate $8,000-$10,000 to replacing the trimwork throughout your home.

Painting 

Will Painting my Kitchen Lead to Other Rooms Requiring Paint? 

If your kitchen is closed off from the rest of your home you may luck out with a modest painting bill. If you have an open concept home, you may need to paint a larger area to ensure a cohesive flow throughout the adjacent rooms. The cost of paint and labor can add a significant cost to your renovation project and as such, when budgeting, it is best to consider how many rooms you anticipate to paint. 

Electrical 

What Electrical Expenses Can You Expect When Renovating a Kitchen? 

When creating the budget for your kitchen it is important to be aware if there is sufficient room on your current electrical panel to service any added requirements. If you are adding pot lights, upgrading to higher end appliances, adding specialty appliances such as wine fridges, steam ovens, microwave drawers or built-in coffee makers, you may require an upgrade. A sub panel or even full panel replacement may be a necessary, yet unexpected cost. This one tends to be a surprise cost to homeowners and can add $1,000-$3000 depending on the upgrades required.

How Long Will My Kitchen Renovation Take? 

Most complete kitchen renovations take 4 to 8 weeks to complete depending on the complexity. Before diving in and beginning your renovation there are a few logistics to consider and plan for. Where will you cook? Let’s not forget that you will be without your kitchen for a number of weeks. Creating a budget and planning your family’s meals well ahead of time will help you avoid unexpected expenses. If you plan to eat take out, budget for the cost as it can add up over the timespan of your renovation. Some homeowners will precook and freeze meals that can be reheated easily in a microwave or on a hot plate which can save money over the long haul.

Have a conversation with your contractor about the construction schedule. During your renovation certain inevitable challenges will arise and being clear with your contractor about the timeline will keep you from being in the dark. There may be days during your renovation where your contractor must turn off the power or water in your home while they reroute or update plumbing and electrical. This may not be ideal if you have small children or work from home. You may want to consider budgeting for a stay at a hotel or air bnb, until the more challenging phases of the renovation are completed.