BUDGET ANALYSIS
ROOM TO RENOVATE
The return on investment (ROI) for a kitchen renovation varies greatly. The ROI for basic to moderate renovations average around 40 to 50%, while more involved remodels can have a ROI as high as 80% or more. You should consider your local housing market to help determine potential ROI.
MY RENOVATION BUDGET IS
BUDGET ESTIMATOR
BREAKDOWN OF BUDGET ALLOCATION % OF BUDGET
What’s Your Style?
As a general rule, you should allocate 35 to 40 percent of your budget toward cabinetry. Cabinets establish the tone and character of a room, so you should select a finish and design that reflects your personal sense of style. If you are remodeling with the intention of selling your home, you should aim for a classic style with a broad appeal to attract the most buyers.
Material Makes the Difference
Countertops should account for five to 12 percent of your budget depending on the size of the room and the materials. Granite and quartz are extremely popular and provide a classic, timeless look. Laminate and stone are less expensive but vary in popularity.
Hire a Professional
Many renovation projects require electrical work. Wires may need to be replaced or rerouted. In some cases, especially in older homes, the electrical work can be quite extensive. A professional electrician will ensure that the work is done correctly and up to code. You should allow four to eight percent of your budget for the services of a professional electrician.If your project requires HVAC or plumbing changes, you should spend the money to hire an expert. Many homeowners find themselves in over their heads when tackling these projects. A professional can save you time and money in the long run. You should set aside 15 to 25 percent of your budget for HVAC and plumbing specialists.
From the Ground Up
There is a broad range of flooring options available today. Some of the most popular choices include tile, hardwood, and laminate. Eco-friendly options, such as bamboo, are also gaining in popularity. Depending on the size of the room, flooring typically accounts for seven to eight percent of the budget.
Set the Mood
When it comes to walls, the size of the room and type of covering can significantly affect the cost. Basic paint is often the least expensive. Wallpaper, marble, or tile will add a touch of luxury to your room but will take a larger portion of your budget. As a general rule, you should allow 3 percent of your budget for wall coverings.
Consider Your Appliances
Appliances can make a bold statement or blend into your design. You may be able to reuse current appliances if they are in good condition and work with your design style. On the other hand, it is probably a good idea to replace that avocado green refrigerator from 1970. You should allow approximately eight percent of your budget for appliances.
Expert Advice For a Successful Outcome.
Some remodeling projects may require things like air conditioning systems or plumbing to be rerouted to ensure everything works properly. In these instances, it is always best to consult or contract a professional. If needed, you can expect to spend about 15 to 25% on a plumbing or heating & cooling specialists. Learn More »
Expect the Unexpected
You can count on a hiccup in any renovation project. Some issues are small, such as needing a few more nails. Others, such as structural problems, can be major budget busters. You should set aside approximately one percent of your budget to handle these contingencies.
What’s Your Style?
As a general rule, you should allocate 35 to 40 percent of your budget toward cabinetry. Cabinets establish the tone and character of a room, so you should select a finish and design that reflects your personal sense of style. If you are remodeling with the intention of selling your home, you should aim for a classic style with a broad appeal to attract the most buyers.
Material Makes the Difference
Countertops should account for five to 12 percent of your budget depending on the size of the room and the materials. Granite and quartz are extremely popular and provide a classic, timeless look. Laminate and stone are less expensive but vary in popularity.
Make Your Space Unique
The fixtures and design accents you select to add character to your bathroom will be determined by the look you are going for, your personal tastes, and the amount of space available. Whether going for ornate or minimalist, you should plan on spending 15% of your budget on fixtures and accents.
Hire a Professional
Many renovation projects require electrical work. Wires may need to be replaced or rerouted. In some cases, especially in older homes, the electrical work can be quite extensive. A professional electrician will ensure that the work is done correctly and up to code. You should allow four to eight percent of your budget for the services of a professional electrician.If your project requires HVAC or plumbing changes, you should spend the money to hire an expert. Many homeowners find themselves in over their heads when tackling these projects. A professional can save you time and money in the long run. You should set aside 15 to 25 percent of your budget for HVAC and plumbing specialists.
Set the Mood
When it comes to walls, the size of the room and type of covering can significantly affect the cost. Basic paint is often the least expensive. Wallpaper, marble, or tile will add a touch of luxury to your room but will take a larger portion of your budget. As a general rule, you should allow 3 percent of your budget for wall coverings.
From the Ground Up
There is a broad range of flooring options available today. Some of the most popular choices include tile, hardwood, and laminate. Eco-friendly options, such as bamboo, are also gaining in popularity. Depending on the size of the room, flooring typically accounts for seven to eight percent of the budget.
Expert Advice For a Successful Outcome.
Some remodeling projects may require things like air conditioning systems or plumbing to be rerouted to ensure everything works properly. In these instances, it is always best to consult or contract a professional. If needed, you can expect to spend about 15 to 25% on a plumbing or heating & cooling specialists.
Expect the Unexpected
You can count on a hiccup in any renovation project. Some issues are small, such as needing a few more nails. Others, such as structural problems, can be major budget busters. You should set aside approximately one percent of your budget to handle these contingencies.
What’s Your Style?
As a general rule, you should allocate 35 to 40 percent of your budget toward cabinetry. Cabinets establish the tone and character of a room, so you should select a finish and design that reflects your personal sense of style. If you are remodeling with the intention of selling your home, you should aim for a classic style with a broad appeal to attract the most buyers.
Hire a Professional
Many renovation projects require electrical work. Wires may need to be replaced or rerouted. In some cases, especially in older homes, the electrical work can be quite extensive. A professional electrician will ensure that the work is done correctly and up to code. You should allow four to eight percent of your budget for the services of a professional electrician.If your project requires HVAC or plumbing changes, you should spend the money to hire an expert. Many homeowners find themselves in over their heads when tackling these projects. A professional can save you time and money in the long run. You should set aside 15 to 25 percent of your budget for HVAC and plumbing specialists.
From the Ground Up
Options for flooring are nearly limitless. Wood or tile? Wide beam or skinny? Light or dark? No matter what you decide, making your choice fit in your budget will depend on the material and area you are covering. For most projects, flooring should account for 7 to 8% of the total budget.
Make Your Space Unique
The fixtures and equipment you select for your closet will largely be determined by the style and space you are designing for. 15% of your budget should go toward organizational accessories to make your mornings a breeze.
The Jewelry.
Make your closet unique with cabinet hardware. Allocate around 2% of your budget for this.
Set the Mood
When it comes to walls, the size of the room and type of covering can significantly affect the cost. Basic paint is often the least expensive. Wallpaper, marble, or tile will add a touch of luxury to your room but will take a larger portion of your budget. As a general rule, you should allow 3 percent of your budget for wall coverings.
Expert Advice For a Successful Outcome.
Some remodeling projects may require things like air conditioning systems or plumbing to be rerouted to ensure everything works properly. In these instances, it is always best to consult or contract a professional. If needed, you can expect to spend about 15 to 25% on a plumbing or heating & cooling specialists.
Expect the Unexpected
You can count on a hiccup in any renovation project. Some issues are small, such as needing a few more nails. Others, such as structural problems, can be major budget busters. You should set aside approximately one percent of your budget to handle these contingencies
SUMMARY
Total Renovation Budget
Total Cabinet Budget