Any realtor worth their salt will tell you that a kitchen remodel can fetch you a handsome return on investment. According to a 2014 cost vs. value study, a major kitchen renovation will produce a 74.2% ROI, while a minor kitchen remodeling project will recover 82.7% of your remodel costs. This puts a kitchen remodel on the list of must-do home improvements rather than just an impulsive makeover by a homeowner.
Still, most homeowners hesitate when considering a kitchen remodeling project, mainly for one significant reason: budget. Kitchen renovations rank as one of the most expensive home improvements to tackle. Luckily, there are ways in which the budget-conscious homeowner can transform the kitchen from drab to fab without breaking the bank.
Don’t skimp on the contractor
This might seem counterintuitive, but unless you know your way around power tools and can handle room measurements like a pro, then you should consider hiring a kitchen remodeling contractor. It will reduce the possibility of any redos caused by errant measurements or improper installation of hardware (e.g., cabinets, drawers, counters).
An expert can also advise you on whether your new kitchen design will work, given your existing power and plumbing schematics. More importantly, your contractor can guide you in making the final decision on which items in your old kitchen are worth saving and which ones are should be scrapped.
Give your cabinets a facelift
Because cabinets are the focal point of your kitchen, it should be no surprise that installing brand new ones will account for nearly half of your entire kitchen-renovation budget.
As much as possible, try to salvage your old kitchen cabinets by sprucing them up with a new coat of paint or stain. You can even change their look by either replacing the old knobs and hinges with new hardware or discarding the old cabinet door altogether for a contemporary, open-faced cabinet.
If you have metal cabinets, a trip to an auto-body repair shop for a refinishing is definitely much cheaper than buying new ones. You can also add some panache to your cabinets by applying some molding and trim.
Give your floor a new life
Restain an existing wood floor and add some stenciled borders to make it look new. If it’s a concrete floor that looks tired, freshen it up with some sassy vinyl tiles, linoleum, or sheet flooring. For a stone floor, simply repolish it to restore its original brilliance.
Spruce up your countertops
Depending on the countertop surface, you can take a number of different tacks to make it look like a million bucks. For a wooden countertop, just strip the old laminate and cover it with a new one. Stone surfaces can be polished while ceramic tiles can be replaced. You can also add a backsplash to lend more appeal to your countertops.
You don’t have to drain your savings just to have a gorgeous-looking kitchen. With a bit of creativity, you can afford an awesome kitchen remodel on a stringent budget.
How to Remodel a Kitchen on a Budget, TodaysHomeowner.com
12 Ways to Save Money on Your Kitchen Remodel, HGTV.com