|THE FIVE "BUCKETS"
THAT PREDICT |
YOUR KITCHEN REMODEL BUDGET
some point, clients typically ask, "How much should I budget for my
kitchen remodel?" Without some decisions--at least "placeholders"--that
question cannot be reasonably answered. That said, whatever the
client commits to the "hard costs" of their remodel does predict where
their overall budget is likely to land. There are five "buckets" into
which funds get allocated:
3) Surfaces (Counters, floors, backsplashes);
4) Fixtures (Sinks, faucets, lighting); and,
5) Millwork (windows and doors).
Using this approach, I was asked by Kitchen & Bath Ideas magazine to prepare a Value budget and a Custom budget for the exact same floor plan. The editors presented the material a bit differently, yet the concept remains: Your hard costs set a baseline that predicts how much you'll likely invest in your remodel.
|In the "Value" kitchen
budget, note that the entire appliance package costs less than the
range alone in the "Custom" kitchen! The faucet was $1000 more, etc.
These kind of selections predict the nature of the remodel; the kind of
neighborhood around the home; and the ripple effect of the client's
decisions; all affecting their overall budget. Filling your five "buckets"
with about $17,000 in hard costs, predicts a $40,000-$50,000 remodel.|
the "Custom" kitchen budget, the appliance "bucket" alone is almost
double the Value kitchen above. Filling your "buckets" with $70,000 in
costs, predicts a $140,000-$150,000 remodel is being planned.|
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