What is the most expensive part of a kitchen remodel?

After deciding to remodel your kitchen, the process starts immediately. You spend all day on Pinterest creating dream kitchen boards and pinning images. When you enter your kitchen, you imagine a remodel. Who doesn't dream? Especially when imagining creative output.

Reality must set in eventually. You're lost when you open the budgeting spreadsheet. Where will my money go? How much does a kitchen remodel cost?

Everyone has money blues, right? We don't have a lot of cash lying around. We wonder about kitchen remodel budgeting and financing options first. Before we can finance a project and create a budget, we need to know what everything costs. An element price breakdown is a good first step in planning.

Check out our range of kitchen renovation at Hitch Property Constructions.

When should I renovate my kitchen?

Even though most people don't bother remodelling kitchens that are less than five years old, if you're feeling guilty about wanting to remodel your kitchen that's been there for ten years, it might help to know that you're not alone in this desire.

According to the results of a survey on kitchens and bathrooms that was carried out by the Housing Industry Association (HIA) in February and March of 2019, it was discovered that the vast majority of kitchen renovations carried out in Australia in 2018 – 78 percent – were carried out in homes that were between 11 and 20 years old.

What’s the average cost?

According to the findings of the same survey conducted by the HIA, the average cost to renovate a kitchen is $26,280. (not including appliances). The renovation of your kitchen is expected to cost between $15,000 and $43,000, according to the Archicentre Australia 2019 Cost Guide. This estimate does not take into account the cost of new appliances.

The cost of any renovation depends on the project's size, materials, and services. Kitchen prices vary widely. No kitchen is alike. While choosing lower-quality materials or being selective can reduce costs, your location can also affect renovation costs. In major cities like Sydney and Melbourne, renovations can cost over $20,000 on average. A typical Australian kitchen remodel costs $17,000 outside these areas.

What are the options to finance a kitchen renovation?

How you finance the work on your kitchen may depend on how big the job is, which will impact much it costs. There are several options available for would-be home renovators to consider, including:

Home loan

If this job is large or you're doing multiple jobs at once, you may want to refinance your home loan or add a "line of credit." Depending on your lender, you may be able to add a redraw facility to your existing loan (though fees and redraw limits may apply). Or, you could add an offset account, which could reduce your loan's interest while still allowing access to your money (though there may be fees and higher interest rates).

Personal loan

You might want to look into getting a personal loan in order to fund the work that needs to be done, depending on your current situation and the total cost of the project. It's possible that this loan is secured, but it could also be unsecured. However, it is important to keep in mind that the interest rates for personal loans are typically higher than the interest rates for home loans, and it is a good idea to read the terms and conditions of the lender before getting a personal loan.

Credit card

Depending on the cost and your ability to repay quickly, you can also pay by credit card. In some cases, doing so could provide extra insurance coverage (check the card's PDS for details). Credit card interest rates are higher than home or personal loans, and interest can quickly accumulate on large balances. So, carefully weigh your options. If you can't pay off your credit card balance each month, you may want to reconsider.

What affects the cost of a kitchen renovation?

Older homes need more kitchen renovations. Size affects the cost of upgrading a kitchen. Considering that most kitchen renovations (68 percent, according to the HIA) involve expanding the footprint, you may want to save more for an expansion.

Prices depend on the materials, fixtures, and fittings you choose and whether you hire tradespeople or do it yourself.

Quotes are estimates of the work's cost. These estimates may change as the project progresses, especially if supply issues or plans change. New work could also uncover existing problems, such as water-damaged house frames or mould infestations, causing delays, more materials, and higher costs. Consider cost overruns when planning your budget.

Hitch Property Constructions has an extensive range of kitchen renovation Melbourne to take the hassle out of deciding the right furniture that matches.

What parts of the kitchen cost what?

Bench, splashback, cabinetry, handles, tapware, and sink materials will affect the cost of your renovation.

Quality, style, popularity, or a combination of these factors affect price.

Higher-quality products cost more because they're designed to last longer and require less maintenance. Expensive tapware may have more durable washers or be made of corrosion-resistant metals. Solid stone benchtops cost more than thinner, cheaper laminated boards. This story discusses kitchen design options.

Product styling can affect price. Decorative tiles can vary in price. Hand-painted tiles or artisan-glazed ceramics are more expensive than standard mass-produced options. Natural stone costs more than manufactured tiles, despite their appearance.

Looking for kitchen renovation Melbourne? Look no further? Hitch Property Constructions has you covered.

Cabinets

The installation of kitchen cabinets has an average cost of between $2,000 and $8,000, while the cabinets themselves can range anywhere from $75 to $1,500 per linear foot in price. The price of kitchen cabinets can vary widely depending on whether you choose custom or stock products.

Additionally, the overall cost of the project will be affected by whether or not you decide to update the cabinets rather than replace them. These elements frequently determine one's first impression of a space. Potential purchasers might not be impressed with them at all if they are out of date or damaged.

Appliances

Stove, oven, fridge, microwave, dishwasher, and other appliances can be costly when updating a kitchen.

There's also a wide selection and competitive pricing. Some ovens cost as little as $300, but larger, higher-quality models can cost thousands.

When choosing an appliance, consider the space available, how it will be powered or fueled, and what functions you need it to perform. Some gas cooktops have a wok-fitting, while others have teppanyaki or grill plates. Some appliances require an electrician, plumber, or other licenced professional.

Installation costs $100 to $300 per appliance. Higher-quality stoves, dishwashers, and refrigerators will increase your cost. Installing higher-quality products will increase your home's value. EnergyStar-certified, custom-built, high-end store-bought, and outlet products are available. If you value longevity, choose long-lasting products.

Countertops

The installation of countertops typically costs between $2,000 and $4,000, though this range is subject to change depending on the type of material and the dimensions of the space. The appearance of your space as well as its functionality are greatly impacted by the countertops. Make your selection of materials based on what will look and perform the best.

The quality of the material determines its price, and this applies to each category of materials. Materials with a seamless construction, such as granite and Corian, have a tendency to be more long-lasting, but their cost is typically higher. Formica and concrete are typically less expensive options, but they contribute significantly less value.

Tile can be attractive, but it requires a significant amount of maintenance over time and should have the grout cleaned on a regular basis.

Kitchen Floor

Depending on a variety of factors, the cost of installing flooring can range anywhere from $1,500 to $4,500. The square footage of your space and the material that you go with are the two most important considerations. Vinyl and linoleum flooring are typically the least expensive, but adding either one to your home will add very little or nothing to its value.

The use of more expensive materials like tile, granite, and wood can contribute to an increase in property value. Sometimes the more expensive types of flooring turn out to be the ones that are the most challenging to maintain.

These locations might serve as unstable workstations. It is not uncommon for stains, grease, heat, and moisture to cause damage. It is possible that the more expensive flooring is not the best option for you if you are unable to keep up with the required cleaning and maintenance.

How long does it take to renovate a kitchen?

According to the HIA survey, most full kitchen installations take four to 12 days to complete. This depends on the renovations' scope, the contractor, and the materials used.

Unless you're making major structural changes, you could live in your home during renovations. You won't have a kitchen during this time. While the toaster and kettle may do for a week, you may need to plan alternative meals. You may opt for takeout, which can be expensive, or microwave-ready meals.

Conclusion

Assume $26,280 as the typical sum needed to complete a kitchen remodel (not including appliances). The price tag for updating your kitchen is estimated to be between $15,000 and $43,000. How you pay for kitchen renovations could be affected by how extensive the work is. Refinancing your mortgage or getting a new "line of credit" could be helpful if you're juggling multiple jobs. Consider applying for a personal loan, too.

You can also pay with a credit card, though this option depends on the total price and how quickly you can pay it off. The typical price range for installing new kitchen cabinets is $2,000 to $8,000. Compared to more practical materials, decorative tiles and artisan glazed ceramics are quite pricey. The washers in high-end taps might be more sturdy, and the metals used wouldn't rust. Installation of new countertops can run anywhere from $2,000 to $4,000.

Adding high-priced finishes like tile, granite, or hardwood can boost your home's resale value. Sometimes the most expensive flooring options are also the most difficult to maintain.

Content Summary

• After deciding to remodel your kitchen, the process starts immediately.
• According to the results of a survey on kitchens and bathrooms that was carried out by the Housing Industry Association (HIA) in February and March of 2019, it was discovered that the vast majority of kitchen renovations carried out in Australia in 2018 – 78 percent – were carried out in homes that were between 11 and 20 years old.
• According to the findings of the same survey conducted by the HIA, the average cost to renovate a kitchen is $26,280. 
• The renovation of your kitchen is expected to cost between $15,000 and $43,000, according to the Archicentre Australia 2019 Cost Guide.
• The cost of any renovation depends on the project's size, materials, and services.
• If this job is large or you're doing multiple jobs at once, you may want to refinance your home loan or add a "line of credit."
• If you can't pay off your credit card balance each month, you may want to reconsider.
• Older homes need more kitchen renovations.
• Size affects the cost of upgrading a kitchen.
• Quotes are estimates of the work's cost.
• Consider cost overruns when planning your budget.
• This story discusses kitchen design options.
• Decorative tiles can vary in price.
• The cost to have new kitchen cabinets installed is on average $2,000 to $8,000.
• The decision to update the cabinets rather than replace them can also have a significant impact on the final cost of the project.
• AppliancesInexpensive updates to a kitchen may not include the new stove, oven, refrigerator, microwave, or dishwasher.
• Both the selection and the prices are very reasonable.
• Depending on the appliance, the cost of installation can range from $100 to $300.
• The price will go up if you opt for fancier kitchen appliances.
• Depending on the type of material chosen and the size of the area, the cost to have new countertops installed can vary from $2,000 to $4,000.
• Choose your materials with an eye towards both aesthetics and functionality.
• The size of your available floor plan and the material you choose will have the greatest impact.
• Expensive materials like tile, granite, and wood can help your home increase in value.
• More expensive flooring materials aren't always the easiest to keep clean.
• If you don't think you can keep up with the necessary cleaning and maintenance, the more expensive flooring might not be the best option for you.
• According to the HIA survey, most full kitchen installations take four to 12 days to complete.