Kitchen renovation costs can be tricky to estimate. There are so many variables that will affect the final cost of the project. There is always a possibility of going over budget ー the one thing we all want to avoid.
The good news is, you can avoid a budget blowout when you have:
- established your budget from the onset
- created a well-thought-out plan with the help of design and construction professionals, and
- decided to work with a project manager to oversee all tasks alongside you
Here at Superdraft, we help our customers get everything done correctly. We can help you to establish a realistic budget for your project and to estimate how much you will need to spend on your kitchen renovation ⸺ and then we’ll help you design and build around that.
If you'd like some further information to help you determine a realistic budget for your kitchen renovation consider reading this useful guide.
Average cost of renovating a kitchen
Most homeowners find it hard to set a realistic budget because they have no idea how much a kitchen renovation costs. Having a benchmark would help, so you have a basis when it’s time to prepare the budget and contingencies.
Here are the costs of renovating a kitchen this 2021:
- Budget kitchen makeovers – costs a little bit more or less than $14,000 and involves cosmetic changes and fixing minor waterproofing and plumbing problems.
- Small kitchen renovations – costs around $15,000 – $22,000; usually upgrading a small kitchen using low-cost building materials and affordable fittings; often involves minor changes in the layout and other elements/features of the kitchen
- Mid-range kitchen renovations – costs around $22,000 – $35,000 and involves working on a standard-sized kitchen using mid-range priced materials and fittings; might involve a major change in the layout and other kitchen elements/features.
- High-end kitchen renovations – costs around $35,000 – $40,000+; usually a very extensive job with a lot of structural changes and makes use of luxury materials, fittings, and finishes.
- Luxury kitchen renovations – extremely lavish and can reach up to $60,000 – $70,000 +
Consider these price ranges very carefully when planning for a kitchen renovation. Take a look at your space, make an honest assessment, and see where your project and your budget falls under.
Factors that affect the kitchen renovation costs
It is also crucial for you to understand the factors that directly affect the cost of your kitchen renovation.
- Scale and size of the kitchen – Bigger kitchens require more work to be done and a longer timeline.
- Your location – Costs of renovating a kitchen in the city properties or remote locations are often higher than in suburban properties. The prices vary in every state or territory as well.
- Elements – Product and material selection takes up a significant chunk of your budget. All your choices must square with the funds available. Here at Superdraft, we can help you make wise material selections. We guide our customers on where to splurge and save.
- Labour costs – Set aside fees for your designer, builder, and tradespeople. This part is easier when you engage Superdraft for your project because we have all the professionals you need within our network. We’ll organise their quotes and manage their workflow so you wouldn’t have to worry about them all.
- Home value – This part is tricky because it’s also based on your location (property prices vary between states and territories) and the situation you are in.
- If you are living in your forever home, you can spend around 10% to 15% of the value of the property on your kitchen renovation.
- If you are renovating to sell, try to spend no more than 2% of the value of your property on your kitchen renovation.
Best practices when planning kitchen renovation costs and budgeting
Here at Superdraft, we guide our customers through the entire renovation process to ensure everything falls into place and to avoid budget blow-outs. However, it is also important to iron out a few things before the pros enter the picture:
Firstly, set a list of priorities and expectations. Let us know how you plan to use your kitchen, design preferences, needs, wants, and how long you expect to live in your home.
Next, set a budget with contingencies. Tell us how much you feel is comfortable to spend on your new kitchen, so we can develop a design that you will adore and will fit your budget.
Once the number has been established, we can break it down into specifics and start working from here.
Then, prepare a budget breakdown. Plan all the appliances and building materials that you will need and make sure that you balance the expenses.