E61 – Budgeting - Kitchen Design Essentials

Oct 28, 2020

In this episode of Your Forever Home, as part of the Kitchen Design Essentials Season, Frances walks through what needs to be considered when planning the budget for your kitchen, including items that are often forgotten. She also runs through what you can expect to be able to do at certain budget levels.

 

 SHOWNOTES:

 

Determine your goals and objectives when creating your kitchen.

• Are you doing a makeover, some basic cosmetic changes to freshen it up?
• Is it going to be a renovation?
• Basic Renovation- replacing what’s already there and not changing the actual layout
• Full Rip out- Changing the layout, creating a different space.
• Brand new kitchen

• Kitchen to flip- short term fix
• Forever Home Mindset- a kitchen that would last for 10+ years

In doing so:

• You will be able to work out on a realistic budget.
• You will be able to identify what you need to invest for the best outcome.
• It will guide you on choosing the type of materials, finishes appliances that sit within your budget.

 

The kitchen is one the most important spaces in a home, so compromising elsewhere could be well worth it.

• If part of the bigger project, some areas can be delayed allowing you to allocate more on the kitchen..
• For instance, delay builtin cabinetry or an ensuite renovation.
• It may be worth waiting a little to get it right because it is such an important space.

 

Not utilising the space in the best way possible- In the Episode of Kitchen Design Essentials- Builder’s Insight, Jeremy from Gaia Constructions highlighted one of the biggest mistakes homeowners make when creating a new kitchen.

• Engaging with experts (eg, interior designer, engineer) will save you money and minimise regrets that you are going to have.
  • Compromising on design as you don’t want to spend getting the design drawings done is a compromise on the space- cabinetry to fit a space rather than it being properly designed.

• We were able to achieve things for clients what they never thought possible - Walk in pantries, appliance cupboards, servery windows – all because we have a different expert eye that can see things you may not. It’s what we’re trained to do. It’s what you pay us for.

How to set your budget

• What do you need to spend your money on?
• • Design and consultants
  • • Interior Designer- Elevations and layouts
    • Engineers- Removing walls

• Products & materials

• Demolition Cost – If you are not doing it yourself.
• Rubbish removal
• Lighting designer
• Different tradespeople (if managing yourself)
• Freight- getting resources and materials from different locations

 

Other costs to consider;-

• Plumber
• Electrician
• Tiler
• Plasterer
• Painting
• Flooring
• Handles
• Caulking
• Sealing
• Opportunity cost- taking the time off work to manage all the trades, which means you need to consider;
  • Insurance
  • Warranty on workmanship
  • Your skillset and confidence to manage all grey areas that may come up when a builder is not involved.

 

How much do you want to spend?

• If part of a larger home, you may want to get advice on where to spend and where to save.
• Are there materials that you can re-use or upcycle?
• Are there any things that you can do yourself, without compromising the outcome? I.e Painting – be mindful of building regulation for complicated tasks.

 

What budget can you afford?

• Validate what you can afford with the real costs, so you can determine what you can feasibly achieve.
• Allocate 15% for contingency
  • Particularly relevant for renovations – come up against unknowns.

 

Let’s talk figures – what can you do – indications only (2020)

• These estimations will depend on the finishes, extent of cabinetry, benchtops, and WIP.
• Remember that one material/ fitting maybe important than the other, so this is not saying you can’t have it! Compromise may be required.