Has the time come to finally refresh your kitchen? They say the kitchen is the heart of every home and renovating that space can be an emotionally and financially taxing process. The process will be full of ups and downs, from the excitement of selecting materials and finishes to the woes of deconstructing your living environment for an extended period. If you're itching to start a kitchen renovation in Denver, CO, your first big step needs to be planning an appropriate budget.
Budgeting is an important part of this process as it sets the limits for your project. From cabinet materials and levels of customization to countertops, hardware, fixtures, demolition, construction, and beyond, various elements of the project will tack on expenses that may not be expected in the design phase. At Kitchen Creations the team is eager to help tackle these challenges while keeping your budget in mind.
Average Costs for Kitchen Renovations
Every remodeling project is obviously different, and that means the specific costs of each project can vary drastically. As a result, the average total cost of a kitchen remodel can range anywhere from $50,000 to $100,000. However, it's important to keep in mind that renovations can vary in size and complexity. For instance, a major renovation in a large kitchen will have to account for more demolition, electrical, and plumbing services that will drive up costs, and minor renovations will not have as many factors.
Key Considerations for Your Renovation Budget
Let's dive a little deeper into the details of your renovation budget. You'll need to keep multiple key considerations in mind as you plan the budget for your kitchen renovation in Denver, CO. If you rush through these factors and fail to fully weigh each one, you won't be able to set a realistic budget and make informed decisions. So, make sure to carefully think through these factors:
- Project Scope: Are you planning to completely overhaul your kitchen and rethink the space from square one? Do you just want to make some minor updates to your cooking space? Or is your remodel somewhere in between those two situations? The scope of the project will greatly impact your budget, so make sure you have a clear picture of what you want to change in your kitchen.
- Materials and Finishes: Obviously, higher-end materials will have higher price points, but it's also wise to keep in mind that specific pieces of your renovation will cost more than others. For instance, new cabinetry on average can take up to 29% of your total budget, while new countertops may only account for 10% of your budget. Other items like new lighting, new backsplash, and new doors or windows can each account for 4%-5% of your budget, so take some time to think about which kitchen updates are most important.
- Labor Costs: On average, you can expect labor to account for approximately 50% of your total project costs. So, if you budget $75,000 for your renovations, roughly $35,000-$40,000 will go to the labor and the rest will go to your materials. Make sure you factor that into your budget when planning and leave enough room for work costs.
- Permits: Some basic kitchen upgrades like replacing cabinets or installing new faucets won't require a permit from the city. However, on most kitchen renovations, you'll need at least one permit to make sure the work is up to code. Any significant modifications that affect lighting, ventilation, fire resistance, or exterior exits will require permits, which means you need to account for these additional costs.
- Temporary Living Costs: Will you plan to stay at your home during the renovations or temporarily live elsewhere? You may need to account for temporary housing, storage, and moving fees. In addition, you'll be eating out at restaurants and bringing meals home very often during this renovation period, so make sure you factor these costs into your overall budget.
- Unexpected Expenses: Even when you feel like you've accounted for all expenses, sometimes it's not enough. That's because surprises and issues may arise during the installation process or at other steps of your journey. For example, a plumbing emergency could arise by accident and result in water damage that will need to be remedied before any work can progress. As such, it's always a good idea to set aside some extra funds for unexpected expenses that may arise during your renovations.
Creating a Budget for Your Kitchen Renovation in Denver, CO
Now that you have a better understanding of what affects your renovation budget, it's time to set a firm number for your project. These bits of advice will help guide you to the right amount:
- Determine Your Priorities: You don't need to upgrade everything in your kitchen during this renovation project! Instead, make a list of the most important updates or changes you want to make, so you can allocate funds appropriately.
- Apply for Financing if Needed: Don't have enough buffer room for your renovations? There are plenty of financing solutions out there today from home equity loans to personal loans and more. Make sure you carefully consider things like interest and loan origination fees before signing the dotted line though.
- Contact Remodelers and Get Quotes: Reach out to kitchen remodelers in Denver to source estimates for the materials and labor needed for your renovation. Once you've got a few options, compare the estimates side-by-side to find the best deal for your needs.
Get Started on Your Kitchen Renovations Today
The kitchen of your dreams is within your reach! At Kitchen Creations, we specialize in kitchen remodeling, and we emphasize customization, client collaboration, and quality at every turn. Our team has renovated hundreds, if not thousands, of kitchens since 2002, and we've gone the distance on each one to ensure the project aligns with the client's budget.
Contact Kitchen Creations today to get an accurate in-person estimate for your kitchen renovation in Denver, CO.