Affordable kitchen remodels can cost a lot. But if you prioritize the elements that need upgrading, and stick to the budget you set, it can be well worth the investment.
Avoid structural changes to keep costs down, such as moving the sink or removing walls. Instead, opt for cosmetic updates, like re-tiling and painting cabinets.
Cabinets
Cabinets make up a huge chunk of the overall kitchen remodel cost, but they don’t have to be your biggest expense. Refinishing or painting old cabinets can give your room a fresh new look at a fraction of the cost of replacing them.
Another way to save is by buying pre-made cabinets rather than custom ones. Also, resist fancy add-ons like pantry and drawer dividers or countertop garages. Instead, opt for simple hardware changes to modernize your space.
It’s important to create a budget and stick to it. Adding extras can push your project over budget quickly. It’s also a good idea to set aside 20 percent of your total budget for unplanned expenses, Norman says. These can include miscalculations on paint or flooring or unexpected plumbing issues. For example, changing the kitchen layout often entails moving or running water and gas lines, which requires licensed plumbers.
Countertops
Countertops are an important component of a kitchen remodel. They can set the tone for the entire room and add a focal point. The best countertops are made of a material that is durable and easy to clean.
New countertops can be expensive, but there are ways to save money. You can find new items that are inexpensive at home improvement stores or make DIY ones yourself using materials you already have.
For example, wood countertops have become popular because they bring cozy cottage vibes to a space and are inexpensive. They can also be stained to match a color scheme or style. However, they require more care than other types of countertop surfaces, such as marble. Another option is recycled glass countertops, which are gaining in popularity because of their durability and eco-friendly characteristics. These are fairly affordable and come in a variety of colors.
Appliances
A kitchen remodel can increase the value of your home and improve its resale potential. However, you may not be able to recoup all of your costs when it comes time to sell your house.
It’s a good idea to set aside a percentage of your renovation budget for unexpected expenses. You might need to hire a contractor for specialty work, such as running gas or plumbing lines in new locations.
You can save money on small appliances by buying refurbished items. You can also find great deals on kitchen supplies and decor online or at local home stores.
Many people choose to update their kitchens because they want a more functional space. Consider adding a breakfast bar to your kitchen to reduce the amount of seating you need. You can also add open shelving to make the room feel larger. A new backsplash is another easy and inexpensive way to update your kitchen.
Flooring
The flooring is one of the most important decisions in any remodel because it’s what you and your family stand on every day. It has to withstand spills, drops, and pets and be easy to clean and maintain.
A budget-friendly option is vinyl, which is available in a range of styles that mimic more expensive materials like stone and wood. Laminate is another affordable option that can provide the look of natural wood or tile floors.
If you want dramatic new kitchen lighting without spending a lot of money, try painting your existing recessed light covers. There are kits that are a cinch to install—a brace screws into the recessed fixture, and a decorative cover hides the fixture. These are a good project for DIYers and can be done in about 15 minutes per fixture.
Fixtures
A new kitchen is a great way to impress guests and boost your home’s resale value. However, it can also be a costly endeavor. If you’re not careful, the project may exceed your budget and end up costing more than it should. But, if you plan ahead and use some smart tactics, your kitchen remodel can be affordable and even increase your home’s value.
The best way to save money during a kitchen remodel is to prioritize the must-haves over the nice-to-haves. This can be done by creating a list of your kitchen’s needs and desires, then exploring creative solutions that won’t break the bank. For example, if you want to add a waterfall countertop peninsula island to your kitchen, Sweeten’s general contractors can find ways to achieve that look without changing your footprint or moving walls.
Another money-saving kitchen remodel idea is to install the infrastructure for decorative lighting during your remodel, rather than purchasing the actual fixture later. For example, a recessed adjustable fixture can highlight artwork on the wall as well as provide light for everyday activities.
Home equity line of credit
If you’re planning on staying in your home for a while, a kitchen remodel could be worth the investment. But it’s important to plan for unforeseen costs and ensure you have enough financing to get the job done right.
A home equity loan is ideal for homeowners who need a lump sum of money upfront to complete a renovation project that has a known cost and timeline. These loans also come with a fixed interest rate and monthly payments so you know exactly what to expect. Plus, the interest you pay on a home equity loan may be tax-deductible.
A HELOC is a revolving line of credit that allows you to borrow against the equity in your home and manage expenses as they arise. But it’s essential to understand how much you can afford to borrow and that you choose a lender with competitive rates. You can start by checking your rate with Upstart, where we look beyond just your credit score to consider factors like education1 and work experience.