The average cost of a medium sized kitchen remodel is $20,556 according to HomeAdvisor. Based on our own benchmarking, Diana and I believe our remodel is valued at $21,000 but cost us $11,000! There is no answer to how much one should pay for a kitchen renovation, this is a personal decision. Sit down and create a budget that complements your financial situation and goals. Then, create a project plan that fits your wish list and budget. With a solid budget, savings ideas will come much easier.
We had originally set a goal to spend no more than $8,000 on the kitchen. But when we solidified a project plan, estimates came out to be $11,000 despite coming up with several savings ideas. We did not want to cut costs on cabinetry or countertops which were the two big ticket items, so we adjusted our savings by postponing the project a few months (much to Diana’s pleasure). Everyone’s situation is different, so I advise to take time understanding your finances and the aspects of the project most important to you and create a budget accordingly. We were definitely glad we did. Here is where our $11,000 went.
Cabinets
Products: Ikea Sektion – white; Ikea Varnhem
Savings: $1,500
All in all, we had a very pleasant experience with IKEA. Also, we took advantage of IKEA’s annual kitchen sale in which you receive a 15% store credit on the purchase price of your cabinets exceeding $4,000. We applied the store credit for purchasing hardware and additional materials for the renovation; very helpful.
Countertops
Product: Calacatta Vincenza Quartz
Savings: -$2,000
This is one place we decided to splurge because we see it as the most used area in the kitchen. No savings here, but we are thrilled about these quartz countertops.
Appliances
Products: Kraus Single Lever Pull Down – Chrome; GE Over the Range Microwave
Savings: $2500
We only replaced minor appliances including our microwave and faucet. The rest were in great working condition, so we fit them in the design. Consider all your appliances before replacing. Will they fit in the style of your new kitchen? If you do have to replace major appliances, buying energy efficient is always a good financial choice over time.
Lighting
Products: All Modern – Breakwater Bay Wall Sconce; Joss and Main – Kaelynn
Savings: $800
Luckily our home came with three sky-lights, one located in the kitchen. Due to the amount of light it magnifies, we did not feel the need to add pendants or recessed lights often used. Consider shopping discounted online stores for fixtures such as Joss and Main or Wayfair.
Backsplash
Products: Merola 3×6 White Tile; Polyblend Sanded Grout – Platinum
Savings: $900
Instead of a backsplash, we opted for a simple 3x6in subway tile. I love the classic, clean look it has in our kitchen and the savings it represents too! These guys are around $3/sq.ft. compared to other kitchen backsplash options which typically run in the $12-$20/sq.ft. range.
Additional Materials
Products: Raw materials, various tools, paints, accessories, etc.
Savings: $1,300
Savings in this area was achieved by us continuing to utilize the existing hardwood floors and keeping the majority of the kitchen layout in tact. There were no additional windows or doors installed or removed. By keeping the original footprint, we did not have to purchase materials needed to make these major changes.
Labor
Products: My muscles & sweat… some tears
Savings: $5,000
Saving the punch for last. Yes we estimate we saved around $5,000 by doing the majority of the work ourselves. We worked with local plumber and a licensed contractor/acquaintance to assist in major installations. Plumbing and electrical are two areas that you need some expertise in before DIYing it. If you do not have experience in these fields, or have a friend who does, consider sources these two skills out.
Make sure to check out our kitchen before and how our kitchen turned out after our huge savings. Also, make sure to subscribe and follow us on Instagram and Facebook for all the latest updates and so that you never miss a post!
-Dimes
