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Finding ideas for remodeling a small kitchen on budget can seem like a difficult task with the worries about inflation and rising costs going around. It can feel like kitchen remodeling on a budget is a thing of the past and now you must spend an arm and a leg; maybe an extra thumb too.
Looking at some small kitchen remodeling ideas on a budget pictures can give you an idea of what is possible, but then you need to figure out how to get it done. Figuring out what you can afford will get you started on doing your remodeling kitchen on a budget.
If you want help with remodeling a kitchen on a budget, this article from our experts is designed for you. This post will give you some professional advice on understanding what you should spend and some kitchen remodeling ideas on a budget that will stretch your dollars.
Understanding Your Kitchen Remodeling Budget
If you have some savings, that is a wonderful place to start with figuring out what you should and could spend on your kitchen remodel. With the savings you have, you want to leave some emergency cash, about 15 percent of your budget that you can have available.
You also might seek a home equity loan or home equity line of credit that can be used to make improvements to your kitchen. This is a way of using the equity you have built from owning your home into cash you can use, then pay back over time.
Whatever your source of money to create your budget, you want to make sure you can afford your kitchen remodel. Don’t put unnecessary financial stress on yourself, that can make it so you never get to enjoy your newly remodeled kitchen because you have to be working all the time or worrying about money.
How Much Of My Home Value Should I Spend On Kitchen Remodeling?
There are low and high numbers you should aim for with your kitchen remodeling budget to get the most out of the project. Common wisdom says you should spend between five and 15 percent of your total home value on a kitchen remodel to get the maximum benefit.
If you spend less than five percent on your kitchen remodel, you could accidentally decrease the value of your home because the quality won’t live up to buyers expectations. If you spend more than 15 percent, again, the quality of the remodel could feel out of place and turn buyers off.
Between five and 15 percent is that sweet spot that will give you the maximum return on investment while making your kitchen new and beautiful. Of course, if you don’t care about your ROI, you can spend whatever amount will make you happy with your kitchen; whether that means making it marginally more functional, or creating a professional chef’s kitchen that will make your friends envious!
Ideas For Remodeling A Small Kitchen On Budget
If your home features a small kitchen, you are in luck because a small kitchen costs less to remodel than a larger one. This is simply due to the fact that you won’t have to use as many materials as you would in a large kitchen.
One of the big keys to staying on budget is to use your funds to buy features that you love, and save money on kitchen items you don’t care so much about. Some examples of clever small kitchen remodeling on a budget are:
- Choose A Creative Color Pallet With Paint – Paint is one of the cheapest materials when remodeling any space, so focusing on it will bring you some incredible results. Choose colors that fit your style and you will fall in love with your budget small kitchen remodel.
- Refinish Your Cabinets – If you are happy with the size of your kitchen cabinets, you don’t have to throw them away. Instead give them new life with a fresh coat of paint or varnish and save thousands of dollars for other kitchen features.
- Focus On Kitchen Lighting – Another way to create a beautiful kitchen remodel without breaking the bank is to get serious about the lighting. Having a bright kitchen makes all the difference in the world, and that could be as simple as getting modern fixtures installed.
- A Backsplash Packs A Punch – while it might seem like a detail, your kitchen backsplash could transform your space into an incredible atmosphere. The best part is that with a small kitchen, you don’t need to spend much to have a fresh, beautiful backsplash installed.
What Are You Likely To Spend On A Kitchen Remodel These Days?
Since the start of the global pandemic, it seems like everyone wants to do some home improvement projects. This increased demand has coupled with supply chain interruptions to create a rise in prices that is taking many homeowners by surprise.
This year, the average cost of kitchen remodeling is between $12,459 and $35,841, while prices could have been up to nine percent lower a year ago. This is a big range of prices that will largely depend upon the area that you live in and the size of your kitchen.
It looks like these kinds of prices are here to stay, so there is no use trying to wait for the prices to go down. You are going to have to bite the bullet and spend what everyone else is spending if you want to do a kitchen remodel right now.
Taking Your Time To Reduce Your Kitchen Remodeling Budget
While getting a new kitchen couldn’t come soon enough for some people, if you take it slow you might be able to save some money. There is a delicate balance between saving money, and enjoying the remodeling process and getting to use your new kitchen.
You can wait for items to come on sale to buy them, so then you don’t have to pay the full price. With the shipping delays we are seeing, you could end up waiting for the item you want anyway, so you might as well wait for one to come on sale.
You can check for used building materials as well to save a big percentage of your budget. Sites like craigslist have deals on building materials that are left over from other people’s projects.
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