Budgeting for your kitchen renovation

kitchen renovation budget

Your kitchen can add huge value to your home. As the heart of the home, it’s crucial to get it right. Do it cheaply, and it will quickly age and start to date. Spend too much, and you’ll over-capitalise.

Take time to sit down and figure out a basic kitchen remodel cost. You can splash out and upgrade from there if you want to.

How much should I budget for a kitchen remodel?

The typical Kiwi basic kitchen remodel cost is somewhere in the vicinity of $30,000 to $50,000. This includes a complete gutting, new cabinetry, appliances and counters. There are ways to cut down on costs and minimise expenses, and if you want to spend more, the sky is the limit. A high-end kitchen could easily cost $100k+.

How do I estimate a kitchen renovation cost?

Sit down and think about what you want to achieve with your new kitchen. What’s wrong with the current one? Is everything in the right place? Is there enough room for your fridge, or do you want a gas hob and wall oven instead of a freestanding range?

Figure out what appliances you want to replace. List them, with their prices. Storage is vitally important, so do a floor plan with the type of shelving and cabinetry you want, and where it will go. List everything you’ll need:

  • Sink
  • Countertops – Marble is often the best option here, is hardwearing and looks great
  • Lighting is so important. Make sure the kitchen is well lit with LED downlights as a minimum
  • Flooring makes a difference. Lino, tiles, timber or polished concrete are perfect
  • Splashback – this can be as simple as a few tiles, or a long printed glass panel
  • Extractor fan
  • Extras like an Insinkerator

Alongside everything, write the approximate price. Get quotes for cabinetry, plumbing or electrical work (these cannot be DIY’ed, and you’ll need a certificate of compliance). Add 10% for unexpected costs, and you’ll have a rough idea of your cost.

Can you save money with your kitchen remodel?

There are ways you can save some expenses with your new kitchen, and they don’t have to mean skimping.

Keep all electrical outlets, gas and plumbing functions in the same place. You will require professionals to re-wire or run plumbing, and this can add a lot of expense. Keep everything in the same place as it was, and you’ll save a lot.

If you can’t afford to replace all the cabinetry, then a thorough clean and replacing all the drawer and cupboard handles can immediately update the look, all for only a few dollars.

Don’t replace your whiteware unless you really want to. If you’re lusting after a double-door fridge, make space for it but keep your single-door fridge in the space until you can afford to buy the fridge of your dreams. If you still have a perfectly working dishwasher, get an integrated cabinet door that allows it to be covered up and look clean and modern.

Remember, you don’t have to do everything all at once. Can you stage the replacement of things, starting with cabinetry, then walls and floor in six months when your funds have replenished?

How much does a kitchen remodel increase home value in 2019?

It can be a risky move—a kitchen renovation can increase your home’s value a lot, or not much at all. Expect that you won’t get everything back you paid for when you sell. While new kitchens are a great selling point in the home, it’s not always going to mean a corresponding increase in sell price.

Some people in the real estate industry estimate the average ROI is about 60%. If you are doing your kitchen up for the intention of reselling it, then remember to keep the colours neutral. Even if you intend to stay in the house, keeping it white is good in terms of looking clean and modern. You can add colour with a splashback and accessories.

Think about who will be buying your home. If it’s a young couple buying their first home, a kitset and basic appliances are enough. An established couple buying a home in The Best Suburb will want top-quality fittings and designer layout.

How much should a 10×10 kitchen remodel cost?

The average cost of small kitchen remodel in NZ costs around $30,000. But, there are a range of ways to make it cheaper and save money.

Why choose Sika Homes for your kitchen renovations?

With many years in the industry and hundreds of successful kitchen remodels behind them, Sika Homes are the renovation specialists. Contact us to get a quote, and ask to see our cheap kitchen remodel before and after shots. We are happy to work within your budget and see how you can maximise your renovation for a reasonable price.