It is essential to determine a cover any home improvement project, and kitchen remodeling is no exception.

A word of caution: I spent several hours researching kitchen remodeling cost and budgeting online to gather data because of this article. I ran right into a couple websites that gave square footage pricing for kitchen remodeling. Although I commiserate making use of their attempt to find a simple method to figure out remodeling pricing, this kind of advice is not based in reality. Remodeling jobs generally are so specific to the conditions of the building and tastes of the homeowner that no square footage pricing will ever be realistic. I also ran into many sites that did not offer you any real information about establishing a budget but basically interpreted Hanley Wood’s Remodeling Cost vs. Value report that is published each year. You are much better off visiting the Cost vs. Value report online and evaluating the results for yourself.

Like anything else nowadays a kitchen remodel will probably cost a lot more than you thought it could and the sky may be the limit on what it can cost based on your tastes. There are multiple factors that go into determining a remodeling budget.

There are numerous places online you can go to help you set up a basic budget number to start with. My own recommendation is Remodeling Magazine’s Cost vs. Value Report which is released by region and major city each year. The really nice thing about this report is that it offers a description of the “average” project so that you can gauge if your kitchen remodel will fall above or below the benchmark. I also find their average pricing to be an accurate reflection of the pricing for our company, so by recommending to clients before I even talk with them they investigate this report they are more likely to set up a realistic budget we are able to work within to provide them an excellent kitchen.

Granite countertops built with Semi-Custom Cabinets

While Remodeling Magazine’s report is very helpful, it really is still an extremely one size fits all approach to establishing a budget. Continue reading if you want to make an effort to hone your numbers a bit.

Escape a pad and paper and jot down a few notes about each factor as you go through this list:

Factor 1 Home Value- Consider not only what you think your property is worth, but also the value of similar homes in town that already have updates. My favorite website to check on home values is zillow.com, simply enter your address and you also get an interactive map with home values along with other information listed right on the map. Take note of which homes are of similar size to yours, have been purchased more recently, but have an increased value, then peek in their windows to see what the home appears like. Ok, seriously, I was only kidding. If you don’t know them perhaps it is time to meet the neighbors and have for a quick tour.

Factor 2 Wow! – This has everything to do with your goals and motivations. Jot down each motivational factor which is vital that you you in a kitchen remodel. Here are a few possible examples: Kitchen is falling apart. You like to cook and the layout doesn’t suit you. You like to entertain and desire to open up your kitchen as a place to assemble. You will want kitchen that wows your guests. You are getting ready to sell your house and the kitchen is really a sticking point with buyers… Given that you have your list, evaluate which motivations are most significant and relist them in motivational order. Imagining your budget starting in “the center” observe which factors might move the budget up or down…i.e. wanting to remodel to encourage a sale might move the budget down, remodeling to wow guest might max it out…etc.