Your Imagination may have No Bounds, But Your Budget has Limits.
Naturally every cabinetry project differs in scope and cost. It helps create a break down of expenses in order arrive at a number that you are comfortable with. Doing so also prevents any unwanted surprises as you proceed. Here are some general guidelines when establishing your investment plan:
- When planning your renovation, it is advisable to keep your budget within 15% of your home’s fair market value.
- Always include a 10% contingency for any unforeseen expenses.
- Educate yourself on all components that comprise a cabinetry renovation, and account for them within your investment plan.
- Determine the elements that you truly need and all the extras that you want.
- Budget is an obvious factor in deciding your cabinetry, but it should not be the only one. A slightly higher priced, better quality product will last you longer than saving on a lower end cabinet with a shorter lifespan.
- Work closely with qualified professionals who will guide you through options that fit not only your taste, but financial needs. Their expertise is invaluable and will save you time and money in the long run.
How much money do I assign to each component within my project?
Homeowners often feel confused when establishing how much to spend on their project, and where the funds should be allocated. Keep in mind that while your kitchen and bathrooms are the most costly rooms in the house to outfit, when renovated, they significantly increase your home’s value and desirability when you decide to sell. The NKBA (National Kitchen and Bath Association) suggest allocating the following funds from your budget on:
Cabinetry and Hardware 29% Installation 17% Appliances and Ventilation 14% Countertops 10% Flooring 7% Lighting 5% Walls and Ceilings 5% Doors and Windows 4% Sinks, Faucets, and Plumbing 4% Design Fees 4% Other 1%
At Merit Kitchens, we are proud to offer high quality cabinetry at an exceptional value. Our extensive offering of door styles, case material, finishes, decorative elements, and functional accessories has something for every budget and taste.
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