How Much Should You Budget for Kitchen Renovation ?

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How Much Should You Budget for Kitchen Renovation ?

Are you staring at a dated kitchen that is not functional or in tune with the rest of your home? A kitchen renovation may be on the cards, but of the many tasks involved in organising such a project, calculating costs is on top of the list. 

The answer to how much a kitchen renovation will cost is varied as every project is dramatically different? Solving this “how long is a piece of string” equation can be made easier by doing your research and understanding some cost indications to form your budget.

Understanding your ballpark kitchen renovation figure

Before you delve into the individual costs, it’s a good idea to form a rough overall cost so you are not shocked by the final bill and can design accordingly. The home prices in your suburb can be a good place to start, especially if you plan to sell the property one day. Buyers expect the quality of the kitchen to match that of the home. 

A Real Estate general rule of thumb for major renovation projects is roughly 10% of your home’s value. A $500,000 home should spend $50,000 on renovations, and so on. 

This is, of course, a rough guide only. You may be in a position to really splash out on your kitchen and spend a lot more, or the budget might need to be a bit tighter. Let’s dive into ways to hone in on a more exact figure.

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The levels of a kitchen renovation

The average value of kitchen renovations Melbourne homes undertake is around $25,000 with the following associated levels:

  • Budget kitchen renovations ($10k-$15k) for a flat pack kitchen with new appliances, plumbing, electrical work and installation 
  • Professionally designed ($20k-$40k) for a professional designer and installation costs
  • Luxury kitchen ($40k – $75k) for high-end materials, finishes and appliances with design and installation

When considering these costs, you also need to think about longevity. Budget kitchens may need repairs or replacements a lot sooner than a high-end option, posing the question of how much money you are actually saving in the long run by opting for something cheaper?

It is also important to consider the value of the designer’s advice and experience. When correctly designed, you’ll have ease of use, greater functionality and maximum storage space – all of which add value and enjoyment to your new kitchen.

The primary factors to consider when calculating cost

Honing in on the price range of your kitchen involves a set of factors that are relevant across the board, regardless of project size and scope. The size and the layout of your kitchen are very important, as is the way in which you plan to use it. Will you be doing a lot of entertaining? Do you have a large family? All of these elements need to be considered. 

A few simple rules to consider are:

  • The larger the kitchen, the more it will cost
  • A quality layout creates an efficient working space 
  • Common layouts include an L-shape, U-shape and galley 
  • Layout variations can affect the price by $10k – $20k

Cabinetry, appliances and accessories 

Locking in your layout is the first step, and once this is done, you can design the cabinetry, appliances and accessories to fit within it. Consider the following for each category:

Cabinetry

Possibly one of the most crucial elements of a kitchen. Your aesthetic will be determined by the style, colour and finish of the cabinets you choose – all of which have varying costs. Start by choosing between a traditional and modern style and work from there.

As this is such an important feature, we strongly recommend utilising a professional’s skills for your cabinet design. This will be the make-or-break factor as to how much you love or hate your kitchen, so you really need to get the cabinets right. Luckily, there are plenty of options and materials, so this is one area where you can really tweak your budget to suit your situation.

Benchtops

Another significant visual element of your kitchen, benchtops can vary wildly in cost. With laminate, timber, engineered, and natural stone options, the thickness, quality, and brand will determine your cost.

Appliances

If there is one area where you do not want to skimp on price, it’s your appliances. Your kitchen’s efficiency and functionality are dependent on quality appliances, and these days there is a significant range of options on the market. 

It pays to do your research or speak to the professionals when it comes to choosing your oven, dishwasher and refrigerator. For those looking to spend a little more on convenience, you can opt for built-in coffee machines, wine chillers and more. Appliance packages can start at $8k and go up to $20k depending on selections.

Accessories

Small items may seem like an afterthought, but the costs can quickly add up. They also add to – and determine – the aesthetic of your kitchen, which is why careful consideration must be made for taps, drawer systems, bins, and other smaller elements. 

Want to get an accurate cost for your kitchen renovation?

This article is a starting point, but for the next step, chat to an experienced designer at H&H Cabinets. Our experts can discuss your needs, offer style and quality options, and help you form a budget. We’ll save you time, source the best prices from suppliers, and above all, ensure the design of your kitchen is functional and aesthetically pleasing in terms of the rest of your home.

When you are happy, we’ll implement your perfect kitchen, ensuring you will love the result for many years to come. Speak to H&H Cabinets today and let’s get to work on a cost-effective kitchen renovation for your home.

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