3 ways to save serious money on a new kitchen

Ginger Dean

August 18, 2014

By: Ginger Dean, Home Finance Specialist

In: Kitchen RemodelFinance and Legal

The kitchen is one of the most-used rooms in your home. It's a place for couples and families to spend time together preparing meals and baking goodies; the place to entertain house guests over a quick coffee break or an evening dinner party. The kitchen is also one of the main selling points for homes on the market. So if you're thinking of upgrading this all-important room, make it the place you want to be and the place potential buyers fall in love with.

New kitchen: need vs want

Contrary to popular belief, a new kitchen doesn't have to be costly. You can remodel a kitchen and make it spectacular while sticking to your budget. It's just a matter of settling on a realistic budget and determining your needs versus your wants.

To start, make a list of the features you really need (aka your priorities) and ask yourself if they are necessities. These will most likely be renovations that improve the space or usage of your kitchen. Then make a second list of the features you would like to have but are willing to maybe live without. These will most likely be add-ons that make your kitchen more visually appealing but have very little to do with the actual functionality. With lists in hand, you can start checking off what you really need - both for yourself and for resale - and get to work on a budget.

Word of warning: don't get so caught up in the aesthetics of a beautiful kitchen that you forget about the functionality. The budget for your new kitchen should definitely reflect renovations versus upgrades. Renovations improve the efficiency of your kitchen whereas upgrades improve the look and feel of the room. If you aren't sure how to determine the two when it comes to your budget, think about your questions like this: I need a new countertop, but does it have to be granite? I want to change the cabinets, but would it be cheaper to just re-stain or re-paint them?

Big ways to save

IKEA kitchens. If interior design is not really your thing, buying an IKEA Kitchen can help ease the workload - it's one-stop shopping. IKEA showrooms suggest the complete room decor from the walls and countertops to the cabinets and appliances. The cost is also very reasonable because it's priced as a DIY project. You can always hire someone to install your new kitchen if your budget permits.

Re-facing cabinets. If your wood cabinets are in good shape and you just want to update their look, re-facing cabinets with a new stain or paint of coat is a great way to do so. It makes your space more modern without paying a fortune for custom cabinets.

Add a backsplash. Adding a splash of color to your kitchen can change the entire look of the room. It can also add a big dose of style and sophistication without a lot of dollar signs attached. Homeowners can choose from a painted, acrylic, tile, or glass depending on your budget.

Now we know: your kitchen is the heart of the home and must be the center of attraction when selling your home. Even on a budget, you can get it looking just the way you want.

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