For most people looking to renovate their kitchen, the budget is one of their biggest concerns. In addition to determining what work they can undertake, the budget influences the finish they can achieve. It can also blow out easily and severely impact their actual ability to finish the job.
As such, when planning a renovation, carefully thinking about your budget is important. You should have a clear view of how much you can spend and how much you expect each part to cost. You should also have a healthy contingency that you can dip into if anything unexpected happens or your costs run over.
How much does the average kitchen renovation cost?
Kitchen renovations vary greatly in size, scope, and quality of finish. As such, average costs can be difficult to work out and tend to be quite broad. However, looking at the averages can still help with budget setting and provide useful insight into what to expect.
According to the 2019 Houzz & Home Overview of Home Renovations report, kitchens are the most popular target for renovators. They are also the most expensive space to renovate, with the median budget sitting at around $20,000. And this price is increasing, up from $17,500 the year before.
It’s important to note that this is a median price for all kitchen renovations and that the size of the space will impact the overall budget. For example, it may be possible to renovate a small kitchen for little more than $10k.
It’s worth pointing out that these prices are for full renovations and do not include labour costs. As such, the price could be even lower if you choose to do most of the work yourself.
What are the biggest expenses?
The most expensive part of most kitchens is the cabinetry and hardware, which accounts for about 30%–40% of the average renovation budget. This makes sense when you consider the crucial role cabinetry plays in shaping the space. It is usually also the largest and most prominent feature and has a major impact on functionality.
With this in mind, when money is tight, many renovators focus on finding more cost-effective cabinetry solutions. While there are some high-quality budget-friendly options available – like those provided by Kitchen Shack – most keep the costs down by compromising on the quality of materials. Many renovators are also tempted by the cost savings of a flatpack kitchen, but this is not the right choice for everyone.
The other significant costs when renovating a kitchen include:
- Appliances and ventilation – about 15%–20% of the average DIY renovation budget
- Benchtops – about 10%–15% of the average DIY renovation budget
- Trades (plumbing, electrical, etc.) – 5%–10% of the average DIY renovation budget
Need help planning your DIY kitchen renovation?
Renovating on a budget can be a bit of a balancing act. While you want to find ways to save money, you don’t want to significantly impact the quality of the final product. As such, it’s really a question of value for money.
This is where the services of an experienced design professional can really help. In addition to making sure your layout works, they can help with your planning and ordering, making sure you get a good deal and minimising waste. They may also be able to suggest more cost-effective alternatives to the features and materials you love.
At Kitchen Shack, we specialise in helping renovators get the look they want for less. Our DIY fully assembled kitchens are budget-friendly and best of all we offer Lowest Prices Guaranteed*. We also provide free design and quotes to help make sure your updated kitchen is both beautiful, functional and on budget.