We have all done it; being tempted by new luxurious items that we cannot afford sounds like an everyday occurrence to most people. However, spending money on a home renovation should be an investment, not a money squandering, especially if you want to add value to your home. Although remodeling is more than a whim, specific parts of your new home, such as the kitchen, might cost more than you have expected. If you are a first-time homeowner, it might surprise you to hear how often kitchen renovations go over budget.
However, now that you are aware of it, it's possible to use this information to your advantage. Being familiar with all the hidden cost traps and means of avoiding them will not only save you the trouble of going bankrupt, but it can also help you spare a few pennies!
You spent a fortune on a layout change
You have finally stumbled upon your dream house. It has the correct number of bedrooms, natural lighting, even a cozy backyard. However, you become frustrated just by looking at the single-wall kitchen. The attempt to fit in all the appliances and utensils in your pocket-sized kitchen seems like a mission impossible. Therefore, the solution is to remodel and invest in a new layout, build an island, or maybe even a whole new U-shaped kitchen. Despite the alluring temptation, this is the moment your budget goes down the rabbit hole.
It's essential to check your costs twice in order not to squander your savings.
Double-check the renovation costs
Before you even consider remodeling your entire kitchen, you should carefully plot your renovation budget. First of all, consult your contractor to provide you with an estimate of your project cost. If your kitchen renovation exceeds 15 percent of your home's value, you might want to take a break from the renovation splurge.
Avoid being carried away by storage issues
If lack of storage becomes the root of your stress, you can solve it by investing in a walk-in pantry. Choosing a pantry instead of a new kitchen layout will provide you with just enough space. You will even save money compared to the kitchen design change. If the pantry is not an option, storage trays, pegboards, turntables, and various organization items can do wonders! Spend your time organizing instead of wasting money, and you might even save for all the latest kitchen gadgets.
You did not prioritize – you want it all!
It's not uncommon for people to get carried away before moving into a new house. It's supposed to be your safe haven furnished with all the items that bring you joy. Although this is not far from the truth, you do not need to squander your last penny remodeling. There usually are more affordable options for each idea that crosses your mind, and you should consider those before your expenses skyrocket.
When you ignore the hidden costs, kitchen renovations go over budget
When planning a budget, it's never easy to predict all the unforeseen expenses. However, it will save you a lot of trouble if you double-checked every hidden corner of your kitchen. When buying a colonial house or a Tudor-style home often seen in Dallas, you have probably been charmed by its compelling character. However, if the home wasn't kept in good condition, you might need to invest more than expected. You might discover water leakage when replacing the floor, so it's always best to put aside some money for the unexpected costs.
Think twice before choosing a countertop material
Many people are under the impression that they need to spend a fortune to have a sophisticated-looking kitchen. If you have fantasized about marble or granite countertops, you will be shocked to find out there are more affordable but equally elegant options. Plastic laminate countertops could be efficiently designed to mimic all the high-end materials without the risk of overspending. They are incredibly durable and convenient, so you might want to reexamine your decision before investing in natural stone.
However beautiful a marble countertop might be, there's always a more affordable option.
Try not to multitask when moving
Multitasking can be a positive activity when it's all about saving you valuable time. However, sometimes it's best to take it one step at a time and adequately plan each task that awaits you. When you plot your relocation and redesign simultaneously, you may neglect something important. If you are moving to a beautiful but demanding Craftsman home in Dallas, it might require some work. However, it's always better to schedule your move first, find good service in the area, and then dedicate your time energy to renovation issues. Delegating your relocation to professionals ensures a stress-free renovation atmosphere.
You changed your mind, twice
Sometimes, people might not be satisfied with their kitchen's square footage and want to make it more spacious. Although it is possible to make a room appear larger without breaking a wall or two, you might have decided to borrow a little bit of space. However, during the process, you figure that the spaciousness entails investing in a different layout. Then you decide it was all a mistake and you need to develop a new plan. Changing your mind a couple of times is one reason why kitchen renovations go over budget, and you want to avoid wasting time and money this way.
Changing your mind when remodeling is one of the reasons kitchen renovations go over budget.
Stick to your plan
When deciding on a renovation, it's too easy to get carried away when choosing the appliances, paint, or flooring materials. The variety of options might lead you to conclude that the sky is the limit. However, your budget might disagree on that. Therefore it's best to double-check every decision you make. Is it essential to invest in a high-end oven when your family prefers to dine out? Do not make hasty decisions you will regret later, and try to invest in relevant features of your kitchen.
Undoubtedly, it's human to err. However, some errors might be irreparable, especially when plotting an expensive remodel. Take your time to devise a proper financial plan, discuss your options with a contractor, and don't indulge in impulsive shopping. Instead of knocking down walls to compose a brighter kitchen, hire a designer to help you achieve it without overspending. Whichever the primary idea was, there's always a plan B. Kitchen renovations go over budget when you decide not to look before you leap. Instead, choose to rationalize and prioritize, and there will be no room for draining all of your savings.
This article is written by a guest blogger, Emma Jones with Superior Moving & Storage. I hope you found it helpful! Some of my favorite products above have shoppable links. If you purchase one, I will receive a small commission at no extra cost to you.
Happy kitchen planning!