Every homeowner knows that a kitchen remodel has many benefits. According to Remodeling magazine’s annual Cost vs. Value Report for 2014, kitchen projects yielded a higher return than bath projects, with a minor kitchen remodel adding 82.7 percent of the project’s cost back to the home’s value. But aside from it being a great financial decision in the future of a home, a kitchen remodel also does wonders for a family’s quality within the home.
Kitchen remodels range in cost, and it is up to each individual homeowner to decide how much to spend and where to spend it within the project. Because most people are working within a budget, homeowners will need to save on some items while splurging on others. Here are some pro tips for where to allocate your budget. Keep in mind that there is no set rule for exactly where to spend versus splurge. It ultimately boils down to preference.
Appliances – Evidently, stainless steel is the most sought after appliance aesthetic in the industry. But that doesn’t mean you have to splurge on them. However, appliances are one of the highest ROI yielding items in a kitchen. If you can’t afford to get all high grade appliances, there are smart compromises you can make. For example, if you now you need a double oven, get a less expensive dishwasher. Or if you know you want that high-tech fridge, spend less on a range.
Cabinets – Cabinets tend to take up more than 75% of your kitchen’s space. Therefore, it can be tempting to splurge on them for aesthetic purposes. However, homeowners are highly advised to save on exterior cabinet materials and splurge on interior materials. Today, it’s easy to have low-cost but high end finishes, but particle board doesn’t measure up to plywood for interior shelving and sides. Saving on knobs is also advised because they can be easily and cheaply replaced. Saving on cabinets is especially advised if you have your heart set on custom features like a lazy susan or soft-closing drawers. Splurging on things like that can greatly improve your quality of life. Keep in mind that some kitchens have odd shapes and may require entire customized cabinets to fit the space. If that’s the case, saving on interior customization might be necessary.
Flooring and Backsplash Material – Tiling used in floors and backsplash can be tempting to splurge on. Deciding whether to save or splurge really depends on the material you choose. Porcelain tile tends to be cheaper but offers a n expensive natural stone look. Popular glass tile mosaics carry a hefty price tag. Keep in mind the size and pattern of tiles when figuring the budget. Consider large tiles for flooring, which give the kitchen an updated look and require fewer grout lines and cuts during installation. It is often advised that when in the budget, homeowners splurge on radiant floor heating because it can actually reduce home energy costs while offering great comfort.
Countertops – It may come as no surprise that countertops yield the highest ROI for kitchen remodels. You hear it time and time again…you can’t go wrong with granite and marble. Just like cabinets, countertops are predominantly visible and help shape the design of the kitchen. Not to mention, they provide the foundation for the all-important workspaces in your kitchen. If splurging on countertops is simply not in your budget, there are plenty of beautiful faux granite and marble options out there. Learn more about choosing the ideal countertop.
Sinks and Faucets – If you’ve always had your heart set on a farmhouse sink, save on your faucet. However, as pretty as a sink may look, it’s the faucet that is the more practical option between the two. So it is often advised for homeowners to splurge on a great faucet. Then again, if you’re not concerned about a faucet or sink, opt for a second sink, in your island for example. Learn more about choosing the ideal faucet and sink with our tips.
Other Considerations – Lighting: Instead of splurging on lavish light fixtures, opt for larger, better quality windows that let lots of light in. Ventilation: Sometimes homeowners get caught up on how things look, and forget about what they don’t see, like smells. Having good ventilation in a kitchen can be very helpful for making sure the house doesn’t smell like what you’ve been cooking. Finally, certain areas (structural integrity, safety, insulation) are places where no one should scrimp.
The bottom line? Understand your priorities. What can you live with and what can’t you live without? If you’ve been dreaming of a 12 foot island, go for it! But that might mean giving up marble countertops. Take your time, look through magazines and on Pinterest, and consult your contractor/designer. Decide on what makes sense for you — both now and in the long term.
