Renovating Budget Tips

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Nearly a third of homeowners do not have an initial budget prior to starting their home renovations (31%) [Houzz]. Having a budget in mind is extremely beneficial to the designer, as it serves as a guide for what direction to go in and it focus on what is really important to you. Creating a budget also helps you know what your means are, making over-spending less likely to happen.

With a wide variety of quality products available, there’s a kitchen for just about every budget, ranging from the lovely to the super deluxe. Most homeowners have an idea of how much they want to spend; however, deciding how to allocate those dollars can be confusing with all of the options available today.

To share a few examples, a large show-stopper of a kitchen with luxurious materials in a metro area could start at more than $100,000 and even go beyond that. However, a lovely, modest makeover in a smaller town can be achieved around $20,000 ­to $25,000.

Here are a few tips that can help keep you within budget:

  • Keep your priorities front and center. A $100 simple stainless steel sink or a farmhouse-style one in antique copper for $3,500? A $4 polished brass knob or a $98 crystal model? Figure out what is important to you!
  • Plan your budget for a 10% overage in case there are unexpected expenses that occur
  • To scale back financially, ask yourself if all chosen features are necessary; however, bear in mind that what you might not miss now could be an essential feature months, or even years, down the road. Avoid future disappointment by including as much functionality as possible early in the design process. This is especially true of bathroom storage solutions that need to be put in place when the cabinetry is being installed.

How much do I spend?

A recent national survey conducted by National Kitchen & Bath Association (NKBA) offers as a guideline for allocating your construction budget. They found that, on average, consumers working with a designer spent the following:

4%…………………………………………………………………………………………Design Fees
17%…………………………………………………………………………………………Installation
14%……………………………………………………………………..Appliances and Ventilation
29%…………………………………………………………………………Cabinetry and Hardware
10%………………………………………………………………………………………..Countertops
5%……………………………………………………………………………………………….Lighting
7%……………………………………………………………………………………………….Flooring
4%………………………………………………………………………………..Doors and Windows
5%…………………………………………………………………………………..Walls and Ceilings
4%……………………………………………………………………………..Faucets and Plumbing
1%…………………………………………………………………………………………………..Other

Let our full service design team at Dalton Carpet One help you put together a budget for your renovating project.

For more information on Dalton Carpet One, stop by the showroom at 3690 Atlanta Highway, Suite 108 in Athens, Ga., call 706.353.0547 or visit www.daltoncarpetone.com.

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