When you ask an interior designer, “how much does a kitchen renovation cost?” their response will be, “how much can you afford?” That’s correct.
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You could spend as little as $10,000 and get a completely functional and modern kitchen, or you could go up to $100,000 for that ultra-modern, luxurious kitchen. How much you want to spend on your kitchen is up to you.
The pandemic kicked off a sort of renovation frenzy, which spilled over to 2022 as people wanted to make their homes more comfortable and functional, just in case they were stuck at home again. Victoria saw as many as 3,733 new dwelling approvals in January, while renovation amounted to about AUD334,461 million. Here are some details about kitchen renovation and other related FAQs.
How Much Does It Actually Cost To Renew Your Kitchen?
Materials have a significant role in the cost of your renewal. So does the scale of the renovation. For example, if you use melamine doors instead of solid timber, it will cost much less. So will a laminate countertop when compared to natural stone such as granite.
If low-cost is the way you want to go, then you should consider an acrylic splashback instead of tiles. Similarly, appliances can range between AUD5,000 to AUD15,000. Therefore, the answer to your question depends on your choices.
Your choices will depend on your lifestyle. A glossy polyurethane double door looks great when installed, but with children running around, it can get a few scratches, ruining the entire look. You need to ask yourself how your kitchen will be used and who will use it. You should base your material choice on those answers.
How Do I Set A Budget For My Kitchen Renovation?
A budget is what keeps you from being carried away when remodeling your kitchen. Deciding a budget can be tricky, but the best way to do it is to set it at 5% to 8% of your home’s value. Thus, if your house is worth AUD$500,000, your kitchen remodels budget should be no more than AUD40,000. While setting a budget, keep in mind that it is best to have a contingency fund just in case you exceed your limit.
How Do I Allocate Funds To Different Items?
Breaking down the budget is another essential aspect, as you don’t want to be spending all your money on a few items and then have nothing left for the remaining. You can break down costs into three broad categories; design, materials, and labor.
The design includes any city permits and should not be more than 10% of your budget. Materials take up about 65% of the funds, and the rest goes to labor.
What Are The Stages Of A Kitchen Renovation?
The renovation begins with demolition. It involves removing everything that you do not need in your new kitchen. Once the internal parts are taken care of, the walls are done with drywall and paint, followed by flooring. This is followed by inspecting and updating the plumbing to handle the new fixtures.
Then comes the electrical work, again reviewed and updated to meet the needs of new appliances. Finally comes the cabinetry, countertops, and backsplash. Once all these are done, the team will install the latest devices and fix any hardware required.
How Do I Finance A Kitchen Renovation?
This question looms large when thinking about a remodel. The answer is few people have enough cash saved up to pay outright for a renovation. Thankfully, you have other options, such as extending your existing home loan, getting an extra line of credit from your banker, and finally getting a personal loan.
Tired and bored of the same old noisy appliances and creaky cabinets. Well, you can now renovate your kitchen and get the latest in everything from appliances to cabinets. Still, wondering how much does a kitchen renovation cost? This article should be able to help you figure it out.