Are you trying to renovate your kitchen? Are you worried about the cost of renovating your kitchen in 2024?
Well, it is no small task at all. Allocating the budget and looking for experts who would justify the cost used for the renovation, transportation, etc., everything needs to be kept in mind. These things are the core foundation that will help in constructing a perfect space for the most important part of the house: the kitchen.
According to statistics, around $21,198 were being paid by American homeowners for minor to mid-range remodeling projects. The most shocking thing about this was that it does not include layout changes or electrical or plumbing alterations. If a person lives in an expensive city, like New York, then the renovation cost drains even more funds from the homeowner.
But there are ways where one can save a lot and get the results of their dreams. One can invest in high-quality engineered quartz countertops, as they look extremely beautiful and are budget-friendly. Check this article by the pros at Caesarstone to learn about the pricing of quartz countertops in residential and commercial spaces.
So let’s, without any delay, check out the cost of kitchen renovation 2024 has in store.
Kitchen renovation cost breakdown:
Before beginning with the kitchen remodeling, one should first set a proper budget of what amount they are planning on spending for renovation purposes. When a maximum budget is set, one can further split it down according to the areas they want to renovate. These numbers might vary due to a wide range of unique factors. But still, the cost won’t cross a limited number no matter what. Let’s take a look at every aspect one by one and see what can be an estimated cost of renovating that specific area:
Some of you might be shocked to know that cabinets are one of the most expensive parts of a kitchen to renovate. They are not easy to set up and require a ton of labor to complete the renovation work on time. The elements that affect the cost of installing new cabinets are:
- The number of cabinets to install
- The style of cabinets
- The size and shape of the cabinet
- Want to install upper cabinets or open shelving
Keeping in mind all these factors, one should allocate at least 30-35% cost of kitchen renovation 2024 budget to renovate the kitchen cabinet area.
Installation and labor:
Renovation of a kitchen is not the work of one person. You would require many people to take care of the renovation in the kitchen. The absolute volume of labor that goes into rebuilding a thing is not easy and thus, requires a separate budget to be set for it.
Here are some of the unexpected costs that could arise during the installation that makes it necessary to put some money aside for installation and labor:
- Plumbing or leak issue
- Electrical issue
- Fixing some points that were left out previously
- Structure issues
- Delay in supply
Due to all these issues, the kitchen renovation work could take a little more time than expected which means additional cost. So, one should at least keep 15-20% from the total cost of new kitchen renovation dedicated to labor and installation cost.
The whole look of a kitchen changes as soon as a countertop is installed. But the expense that comes with purchasing and installing a countertop is high compared to any of the other activities.
The reason why countertop would take up the majority of the kitchen renovation budget is that:
- The material used in the countertop: If the material used in the countertop is a natural stone, then the cost will be too much. On the other hand, if the material used is an engineered stone like quartz, it may cost less in the long run.
- Square footage: The cost of the countertops also depends upon the area that needs to be covered. As the material will be broken down into slabs according to the kitchen area, it will add to the additional cost.
- Waterfall countertops: There are different waterfall designs available on the countertop. Some prefer one side waterfall, others prefer both side waterfalls. So, the countertop cost will again go up according to the design.
- The number of points: One needs to have enough points for sinks, faucets and other utilities so that the people who are using the slab do not have to worry about any adjustments in the future.
These are just a few reasons; as one goes through, more reasons will arise for keeping a budget for the countertops. At least keep 10-15% of the budget solely for the countertop.
If installing luxury appliances is in your mind, then at least keep aside 30% of your budget for installing the appliances only. The factors that impact the cost of kitchen appliances are:
- The number of appliances one is planning to install
- Usage of smart technology appliances
- Brand name
- Style and quality of the appliances
If a homeowner’s wish list is longer, the cost will be more, so one has to stretch out the budget.
Finishing touches for the space:
After the whole kitchen renovation is complete, the last thing that is left to be done is the finishing touches. These final touch points will take around 5% of your budget but do not ignore it. A kitchen will only come together when the final touches are done perfectly.
Items that are generally considered as finishing touches include:
- The hardware of the cabinetry
- Lighting fixtures
- Final designing
- Fixing of door knobs, hinges
- Curtains and blinds
Cost of kitchen renovation 2024 : Conclusion
No matter how much planning you do for renovating the kitchen, all these things can go down in no time.
Therefore, several experts have recommended that you always plan for the unexpected. By doing this, one won’t have to worry about the cost of complete kitchen renovation much and can focus on all the tasks for renovation in peace.
Always add at least 10-15% more for all the tasks, no matter how small or big it is.