When you want to renovate your kitchen, one of the most trafficked places in your house, you should be careful what you spend your money on. Every renovation you make should offer a great return on the investment.
But managing any renovation—no matter how big or small—is never easy. But believe it or not, you can get your dream kitchen without making a significant dent in your bank account. Here are the steps and tips to achieve a cheap renovation with the least amount of hassle to make the process easier.
1. Deciding on a Budget
The first step is always knowing what amount of money you can spend on a certain project. This helps you plan things accordingly and have the money you need for necessities on the side.
Staying inside a budget might seem easy, but it can be pretty hard, and you will have to cut edges on some ideas that you had. Although this usually depends on what your budget should be. The average full kitchen remodel costs anywhere between 15,000 to $30,000. However, this cost can be reduced if you plan everything properly.
When setting up a budget, make sure to keep some emergency money on the side that you can use in case something crosses the budget amount. This way, you still don’t have to dip your feet in the savings that you have kept aside. Moreover, the budget should depend on how you will use the house; if you plan to live in it, then having a big and expensive renovation is okay since you will get a return on the investment. However, if you will sell the house, then it is unnecessary to have significant changes and try to fix and polish things in the kitchen.
After you’ve gathered quotes from several contractors, figure out how much the project will cost in total, adding 15 to 20% buffer for unexpected expenses. You can opt for a home equity line of credit or personal loan to offset initial costs. Qualifying seniors can get a reverse mortgage to make the renovation process easier to manage without worrying about mortgage payments. Use a reverse mortgage calculator to see how much you would qualify for.
2. Be Prepared
This means that you should know what renovations you want before you start the process. This means even deciding on the products you will use. A great way to be prepared is by having a list of priorities to know what things you must need to renovate. This is a good way to stay on budget by cutting renovation on small things you want but don’t need.
Picking products during renovation can spiral the budget way out of control because you might not always get what you wanted at the last minute and decide to buy something much more expensive or something you don’t like. This is why be prepared and have everything you need to be bought beforehand. Make sure to buy all the necessary items before not things that you might need.
3. Interview Many Contractors
After the planning part of your renovation is done, it is time for action. The first step to start the process should be to contact as many local contractors as possible and get their quotes for your project.
Chances are they all will have almost similar prices, but even a tiny difference can be very beneficial in the long run. This, however, doesn’t mean that you should contact a contractor that is very cheap and their work is not good. If you do this, you will have to spend double the amount trying to get things fixed that they made mistakes on. So, stay within a specific range and decide on a contractor that seems to understand your needs the best. Furthermore, discuss all your needs beforehand and communicate well with the company you choose to avoid any conflicts later on.
4. Save Money When Possible
This does not mean that you should skip on things you need but rather try using cheaper alternatives that fit your budget well. You can save money during renovations in many ways.
One big way to save money is by upgrading the things you already have instead of buying newer products. For example, if you have cabinets in bad condition, paint them instead of buying new ones. Painting cabinets white can hide many flaws and save a lot of money. In addition to that, marble countertops can be costly so instead, go for quartz.
Another good way to cut expenses is by avoiding highly branded stuff instead of going for cheaper ones with good reviews. Using second-hand products that are still of good quality is another tip for saving money during your renovation process. Spend money on things that were the reason you considered renovating and not for other small parts.
5. Do It Yourself
When painting some part of the kitchen or adding lights, you can do this yourself instead of asking the contractor to do them. This can lower the overall cost a lot.
Doing things, yourself might not be the easiest, but it will help your bank account. If possible, you can paint the cabinets, walls, etc., yourself or even build small things yourself. The internet is filled with tutorials that can help with the DIY process. Make sure only to do this for minor changes and also be confident enough to pull it off. If you mess up, it can make the process much longer and can even end up costing more.
Article Submitted By Community Writer
