Kitchen and Bath World | Custom Kitchen Designs Albany NY | Bathroom Renovations Albany NY | Kitchen and Bath World How Much Should I Budget? | Kitchen and Bath World
Showroom Hours
Mon-Fri 10 5:30
Thursday till 7:30
Saturday 10 4
Sunday 11 3

How Much Should I Budget?

UNDERSTANDING BUDGET….

One of the most common questions we are asked on daily basis is How much will my kitchen or bath remodel cost? This is an important question to ask, however, a good designer at this point will begin asking you questions before answering this. Why is this? Well, there are many variables that will determine the total cost of your project. From the size of the space, to the materials you select, age of your home and layout changes will all impact the overall cost. A designer needs to better understand your expectations and scope of the work before setting forth a budget.

While we’ve already established there are many variables that will determine the overall cost of your project, there are still some guidelines to help you determine if you are on the right track.

KITCHENS: The National Kitchen & Bath Association (NKBA for short) recommends that you invest 12-15% of your home value in a kitchen remodel. A typical homeowner with a $300,000 home in upstate New York should expect to spend $36,000-$45,000 on a kitchen remodel. This typically should include cabinetry, counters, flooring, fixtures, labor and rough materials. This being said, appliances should always have a separate additional budget, as appliances are not permanent fixtures and do not necessarily contribute toward your home value. It is also important to understand that there may be other circumstances that may cause your kitchen remodel to fall outside of this range. Are you making structural changes that impact the overall layout and function of the home? Are you relocating or enlarging your kitchen in some way? Are you including flooring or fixtures in adjoining rooms such a mudroom or laundry room?

BATHS: The NKBA recommends that you should invest 5-10% of your home value in a bath remodel. A typical full bathroom remodel should cost $15,000-$30,000. However, there are significant variables to consider. Is this a basic 5’x9’ bathroom? Or is it a large master bath with a separate soaking tub and shower? Are you adding fancy plumbing for body sprays in a shower or a heated floor? Are you relocating plumbing or electrical? These factors can push a project over the typical 5-10% threshold.

 

What if my budget can’t stretch that far?
It is important to know that on the flip side your designer can work with you to keep your budget in a range you are comfortable with. By sticking with your existing layout, reusing your flooring and not making major adjustments to pluming or electrical you may find that your remodeling project can be surprisingly affordable.

WHY SHOULD I DISCLOSE MY BUDGET?

Talking about money is something many of us are uncomfortable with, and understandingly so. When asked for a budget consumers are often hesitant to give one. Either they’re afraid of embarrassing themselves with a number that is too low, or unrealistic. Or they have the mistaken idea that if they give a budget their designer will intentionally spend every last penny.

Not setting a budget can be a big mistake. The truth is all of us, no matter how big or how small, are working within a budget. Setting a budget with your designer will help him/her better address your needs. Designers can help you prioritize where your funds should be allocated to achieve the most for your money. Remember, we are designers not salespeople. We want to create the best space possible for your budget.

MATERIAL COST VS. OVERALL COST

One of the biggest mistakes a homeowner can make when budgeting for a project is not understanding the overall cost. When embarking on a kitchen or bath remodeling project homeowners often gather information on cost of cabinetry, countertops and labor but forget to budget for all of the additional fixtures, rough materials demolition and debris removal. You or your contractor will need to purchase rough materials such as sheetrock, subfloor, plumbing and electrical fitting in order to make your project come to life.

At Kitchen & Bath World we strive to make the budgeting process simple and easy to understand by giving you a comprehensive proposal with a total price for your project. This pricing will include everything from your major items such as cabinetry, countertops and flooring, to the smaller items such as faucets, lighting and even cabinet hardware. Your proposal will also include your total cost of labor and rough materials so that you can go into your remodel confident of your total expenses. We understand that remodeling is an investment in your home and lifestyle and strive to make the process as stress-free as possible.

Now let’s get started….