Is your kitchen renovation in progress? Before you go further with any final decisions, let me share some valuable insight that could save you from making some seriously expensive mistakes. Did you miss the previous kitchen mistake to avoid, we can catch you up in no time! Check out our post Expensive Kitchen Mistake #8 here.
Mistake #9: Letting Your Expectations Exceed the Planned Budget
Don’t fall victim to having a ‘champagne taste on a beer budget’!
I think we’ve ALL been guilty of this in some way, shape or form. Whether it’s a gorgeous pair of new shoes that are 3 times what you wanted to pay (ladies, you know what I’m talking about!). Or that shiny new bicycle you’ve been eye-balling, but is a few thousands dollars over what you planned to spend. Hence, ‘champagne taste on a beer budget’- the much pricier of your preferred options vs. what your wallet can realistically manage.
When it comes to designing and remodeling your kitchen, there are so many products on the market that it’s hard not to get excited about the latest appliance gadget or the most exquisite looking countertops. But sometimes when you decide to do so, it takes your spending beyond what you anticipated! From $ to $$$$!
As we consider this concept, there are 2 things for us to look at here-
- Spending your “beer budget” on that champagne taste. This would look like feasting your eyes on something beyond your means, and making a conscious decision to take action on it. Like using a credit card to buy said items. This is what we call going into debt… surely, you’ve heard of debt. It’s not so fun to pay those credit card interest rates month after month.
- Letting your champagne taste ruin the taste for other acceptable “beer budget” options. There is the fantasy of being able to purchase that high-end appliance, for example, and expect it to have a comparable cost to a lesser quality item. But truly, there are too many options out there to cater to many different tastes and budgets!
Having a realistic preparation for the overall spending (aka your budget) for your kitchen project, that will of course bring lasting memories and ultimately increase your home’s profit potential(!!!), WILL set you up for success! And could make things a bit easier on that wallet of yours!
So what does this all mean?
It means you need to have a plan as to what you’re willing to spend AND what your wallet can actually accommodate. Do not expect to receive the fanciest dishwasher with all the bells and whistles or that top-of-the-line refrigerator with built-in television and pay only a fraction of its actual cost and value! In other words… You cannot buy a Porsche at the same price of a Toyota. (And to be VERY clear, Toyota makes a damn good car!)
Tips to Help “Blend the Budget”
Perhaps we can mix a bit of that champagne and beer…? Ok, that’s pretty gross… but I think you’re catching my drift, yes? There are certainly ways to help make a kitchen with a smaller budget appear more upscale without compromising up-to-date features and quality!
Having a good understanding of what the finish materials cost and how they fit into the grand scheme of your kitchen layout can help you avoid the money pit of remodeling! Use this chart to give you a sense of what materials alone (appliances, cabinets, tile, etc.) could cost.
Here are a few pointers that really add value to your project and make a visual impact, all while being easy on the wallet.
- Invest in appliance packages that offer promotional savings (such as rebates or ‘buy the fridge and oven, get the dishwasher free’). This results in thousands of dollars in savings.
- Opt for a counter-depth, freestanding refrigerator and design the cabinetry around for a built-in look.
- Choose a larger format backslash tile over a mosaic tile. Quality “field tiles” could range anywhere from $3/sf to $10/sf, whereas mosaics can start at $20/sf.
- Consider a smaller quantity of that pricier accent tile as a design statement.
- Go for engineered quartzite over the more elaborate and expensive natural stone that costs twice as much.
- Choose paint-grade cabinets over solid natural wood cabinets.
- Consider luxury vinyl planks (LVP) for flooring over tile or wood floors.
Need Some Real Life Examples?
Want to see some of these budget blending tactics in action? Here are a few approaches that my clients and I have proceeded with on design projects when “blending the budget”.
Appliances
The Viking Series 3 collection is a premier appliance product with a wallet-friendly price point. You can get an appliance package for around $10k or less! That’s an incredible deal for a luxury label! Bosch and KitchenAid offer great quality mid-range products as well if you’re in need of reputable, quality and price-friendly appliances.
Flooring
A great choice for a condo, luxury vinyl planks work well in households with kids, pets and elderly folks. They’re soft on the knees to walk on and very easy to maintain. The finishes and textures produced over the last few years have vastly improved making the options almost limitless! The big bonus is that the material and installation costs could be nearly half the price of an engineered hardwood floor.
Backsplash
An expensive accent tile, even at $50-$100/sf can be worth the investment when paired with more cost-effective complementary pieces. Above the range, for example, a coverage of 10-15 square feet of this pricier tile may create a major focal point that can be appreciated every single day. Thus, utilizing a minimal amount in an impactful way can truly make a statement without going overboard with the spending.
As you can see, choosing to save in one area of your selections can allow for flexibility in your project. Set your expectations early on, whether it be champagne, beer or whatever taste tickles your fancy, and you will set yourself up for success!
Final Words
One last tip to help avoid the mistake of letting expectations exceed your budget- always build in an extra 10-20% to your overall budget for contingencies. You never know what might arise from your kitchen remodel project.
RESULT OF EXPENSIVE MISTAKE #9:
Letting expectations exceed your planned budget will either lead to much disappointment in not getting what you want or spending much more than what you initially planned for!
VALUE SAVINGS
It’s always wise to map out where your dollars are going. This will save you the run around of attempting to value-engineer at a later point in time and make changes to accommodate costs.
Anxious to dive into all 10 EXPENSIVE KITCHEN MISTAKES TO AVOID? Get your hands on the “10 Expensive Mistakes to Avoid in Kitchen Remodeling” video by subscribing to our email list… and get ready to spare yourself the headaches of remodeling your kitchen. Rock on Remodelers!
Xoxo, Megan
