The National Kitchen and Bath Association recommends spending no more than 10%–15% of your home's total value on a kitchen renovation. This amounts to no more than $30,000–$45,000 for a $300,000 home.
How much should you spend on a kitchen renovation?
Kitchen renovations will cost anything from $15,000 to $45,000 or more. Prices vary based on individual preference such as the quality of materials, fixtures and furniture used. It's easy to overspend on a kitchen renovation without a simple budget plan, which can lead to higher costs than you expected.
What is the biggest expense in a kitchen remodel?
Part of determining that price of your kitchen remodel is the extent of your makeover. Your biggest cost investment for a kitchen remodel will usually be cabinets, which typically eat up 25 percent of your budget.
How do I fund a new kitchen?
- Personal loan. If you don't want to use your savings and a credit card isn't the option for you, another way to pay for a new kitchen is to take out a personal home improvement loan.
- Interest free credit.
- Buy now, pay later.
- Pay monthly kitchen finance.
How can I reduce the cost of a new kitchen?
How do people afford to remodel their kitchen?
If you want to borrow a larger amount of money to fund your kitchen remodel, a home equity loan is a great choice. You'll receive a lump sum to spend with a fixed interest rate, repayment timeline, and monthly payment. However, it's a secured loan that uses your home as collateral.