Other kitchen renovation costs
In addition to all of the above costs, you’ll also have professional installation fees (around $ 3,900 or 17% of budget, on average) and design fees (around 4% of average budget or $ 920). If you do any work on the doors or windows, it usually comes down to around $ 920.
Your fees will also vary depending on the location of your property and local market prices. According to HomeAdvisor, kitchen renovations are the most expensive in the following cities:
- San José, California.
- Los Angeles, California.
- San Francisco, California.
- San Diego, California.
- Las Vegas, Nevada.
Ways to cut the costs of your kitchen remodeling project
Choosing low cost, high ROI projects and materials is the best way to get the most out of your kitchen remodeling budget. But there are also other ways.
On cabinets, you can choose to simply repaint rather than refinish or replace. A nice coat of white or gray is a good trendy choice. Adding updated hardware can also give the cabinets a new look for a low price.
Here are some other ways to save money:
- Consider a self-adhesive tile backsplash: These cost a lot less than traditional tile options and are also easy to install.
- Discover the stone, granite and marble supply yards: They will often have leftovers from larger projects that you can buy for less.
- Choose open shelves: You can avoid cabinet costs altogether by going for the very popular open shelving look. You can even use reclaimed or reclaimed wood for the shelves to further reduce costs.
- Avoid over-rearranging: Avoid smashing walls, moving pipes and wiring, and just moving things generally if you really want to stick to your budget. Focus on cropping the room, without transforming it completely.
- Minimize permit requirements: Permits can be expensive, especially if you need them for every small project you undertake. Take the time to study the local building code and consider permit requirements when making your renovation plans.
You should also research your home improvement contractor and materials, and use in-store professionals for design and consulting needs. Hiring a professional kitchen designer can cost you anywhere from $ 100 to $ 200 an hour – and you can bet your design will take more than a few hours – especially when you consider the back and forth travel you’ll need.
How to finance a kitchen renovation?
If you don’t have the cash to finance your kitchen remodeling out of pocket, there are plenty of financing options to choose from. On the one hand, you can leverage your home equity using a home equity loan, home equity line of credit (HELOC), or cash refinance loan. If possible, these should be your best choices for financing, as they usually come with lower interest rates than the other options available. You can even leverage the equity you own in another investment property, if needed.
A personal loan or credit card is also a possibility, although you will pay more interest to withdraw it. If you go with a credit card, consider using a cashback card – or at least one that gives you discounts at home improvement stores. This could help you reduce your renovation costs even further. If you choose a personal loan, just be sure to shop around, as rates and terms vary widely from lender to lender.
A quick note here: not all of these financial options will be available to everyone. Your exact financing and loan choices will depend on your credit score, debts and home equity.