Managing the amount you spend on a kitchen remodeling project can be easy if you follow these guidelines.
Decide what you are willing to spend, and stick to the number you established.
Setting a budget for a kitchen remodeling project and staying within it sounds simple and obvious, but it is harder than you think.
The average cost of a high-end kitchen remodel is upwards of $80,000, but there are factors which will determine whether you want to spend that much. The first is how much you are capable of spending. Review your finances to determine this number.
The second is how long you intend to stay in your home. If you are planning on selling the home within the next five years, then your kitchen renovation should be considered an improvement on a real estate investment. Only spend what you think you will be able to get back when you sell your Tampa home. If you intend on living in the home longer than five years, you will want the remodel to be focused on making your family feel comfortable in your home.
The third factor is the surrounding neighborhood. Are the homes modest? Are the homes upscale? If you put a massive kitchen in a middle-class neighborhood, you will lose cash on your investment when you sell the house. Never over-improve.
Understand how the costs will break down in the remodel.
Labor will always consume anywhere from twenty percent to thirty-five percent of your Tampa kitchen remodeling costs. Cabinets can also eat-up a big chunk of your kitchen remodel budget.
Here is how it typically breaks down:
- 35%: cabinets.
- 20%: labor.
- 20%: appliances.
- 10%: windows.
- 05%: fixtures.
- 03%: fittings.
- 07%: miscellaneous.
Maintaining a clear understanding of your budget allows you to build or remodel a kitchen that satisfies the needs of your family, while still offering a good return on your investment. Our remodeling specialists can help you nail down your “must have” modifications, making it possible for you to develop a kitchen remodeling budget. Call Rossi Construction, Inc. at 813.436.0177 to schedule an appointment for a free kitchen remodeling consultation today!