Budgeting

How much your project will cost is dependent on many factors such as the type, style and finish of the cabinetry you choose or whether or not you select professional or standard grade appliances.  Costs also are impacted by the choice of counter surfaces and the amount of labor involved in achieving the design you desire.  The most important question to ask yourself is, “How much do you wish, or are willing to spend to achieve your goals?”  A well-thought-out budget can help determine what is both within your comfort zone and that which may be necessary to meet these goals.

At Creative Kitchens we charge all of our sales designers with one simple rule:  To be good stewards of our clients’ dollars.  Further, we asked directly of our clients to, without any reservation, inform us at any point when we are not meeting the financial objectives of the project.

Establishing your budget still is not without challenges and forethought.  First, if you are remodeling determining the right amount is harder.  There are many consideration such as how long you may plan to be living in the home, what are the home’s other needs and of course, how much work is required to create a space worthy of the investment.

While you can spend as much as you are comfortably able, you should also consider whether or not you are adding value to your home so that you can get a reasonable return on your investment (ROI) should you sell the home.  Overspending can have as negative an impact on ROI as underspending when potential homebuyers compare your home to others within a similar price range.

One rule of thumb for determining budget for a kitchen remodel is the 5% - 15% rule.  Essentially the rule simply states:

The entire kitchen project (including cabinets, appliances, countertops, flooring, lighting, trim moulding, and wall finishes) should cost no less than 5% and no more than 15% of the current value of your home.  Approximately 50% of the expense of the total cost allocated for cabinetry, accessories and trim.

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