Anyone who has previously set a budget and remodeled their kitchen or bathroom will probably agree – if you’re not careful, it’s easy to overspend and bust your budget. With so many products and stylish pieces available today, you have to make a conscious effort not to let things get out of control– which is why we advise you to pull apart all the pieces that will make up your remodel, and assign a certain amount of your budget toward each section.

If your median budget is $30,000 and you plan to do a complete overhaul of your kitchen, you shouldn’t be spending $20,000 on cabinets (unless of course you want to and you plan everything out accordingly). So what should you be spending in each area?

Remodeling costs uncovered

Everything all depends on your remodeling purpose and your personal priorities, but if you’re remodeling with the purpose of gaining a return in a resale, you should also check with real estate professionals in your area, and more specifically, your neighborhood, to make sure you know what to expect.

To get your mind thinking in the right ballpark, the National Kitchen and Bath Association has noted the some guidelines when it comes to the general rundown of remodeling costs. Here we note a few of the main areas:

• Cabinetry and Hardware – 29%
• Labor/Installation – 17%
• Appliances and ventilation – 14%
• Countertops – 10%
• Flooring – 7%
• Lighting – 5%
• Faucets & Plumbing – 4%

Again, these are just general percentages, but you can adjust some of them as needed.

Over budget?

If you notice yourself going over budget and needing to cut back in areas, we suggest slimming down on the basic cabinetry accessories that can be added relatively easily at a later date, such as rollouts, appliances and even some countertops. Things that you shouldn’t cut out, if avoidable, are those that are not so simple to change – i.e. cabinet door styles and finishes.

Breaking down your budget is ultimately up to you, but your remodeling professional will be a great resource if you need guidance. Contact us if you have any questions regarding your Chicago area remodeling budget.