Home renovations can be an incredibly exciting journey to take. After years of saving, you finally have the opportunity to transform your house into your dream home, allowing it to better reflect your personal tastes and styles.
Plus, there’s no better time to redesign the layout of your home to ensure that it is more practical and functional.
Older homes tend to come with their own set of characteristics and quirks that no longer make sense for modern living. But with a home renovation on the horizon, you’ll have the chance to fall in love with your home all over again.
Deciding which room to start with can be a challenge. However, kitchens have quickly become the go-to space to tackle first.
Gone are the days where it was simply used for cooking; it has since become your central spot for gathering, whether it be around homework or a dinner party.
Your kitchen is now one of the most utilized spaces in the home, so why not make it a place you look forward to spending time in?
Of course, when approaching any renovation project, it’s important to consider the budget. Financial strain is one of the main ways that home renovations can turn from fun to overwhelming, so having a predetermined figure in mind can help to alleviate stress. Therefore, let’s explore how much a kitchen renovation might cost.
How Much are Kitchen Renovations?
When it comes to kitchen renovations, it is difficult to come up with a specific price tag, as there are numerous factors that can impact the cost of such a project. However, the average kitchen renovation in Canada tends to cost around $35,000.
Kitchens are often one of the most expensive renovation projects to take on. However, given that it tends to be the centerpiece of the home and is one of the most used spaces, the cost to practicality ratio is fairly even.
Plus, the average return on investment is around 50%, meaning that you are able to enjoy the results of the renovation while still adding value to your home.
What Impacts the Cost of a Kitchen Renovation?
The Size of the Space
Naturally, a larger kitchen will cost more to renovate. It may surprise you, but cabinets actually eat up a large portion of your budget, so the need to install more will see the price tag rise.
Additionally, the number of materials you will need, from flooring to tiles to paint, will also increase, thus leading to a higher cost.
There’s nothing wrong with wanting to infuse a little luxury into your kitchen, but just be mindful of how quickly items can add up. Ovens, for example, can range between $700 and $5000, so just one decision can have a huge impact on your budget.
Between flooring, tiles, paint, cabinets, countertops, and appliances, you have the opportunity to drastically affect the overall price of the renovation, so simply be aware of how your selections play into the cost of the project.
That’s not to say that you can’t splurge here or there if you’re on a tighter budget! Simply focus on a few pieces that can make a statement, rather than going all out on every item. Plus, there are always less expensive options of the tile or flooring that you have your eye on that will look just as stunning once installed.
The Time Frame
The longer the renovation takes, the more money it will cost you. While your contractors can only work so fast, there are ways you can help speed up the process.
By planning ahead and having your electricians, plumbers, window installers, and other specialized professionals booked in advance, construction won’t have to stop every time a new stage of the project begins.
Additionally, you can be sure progress continues by being available to your contractor at all times, allowing them to resolve an issue quickly when they hit a snag.