Beautiful Simple Contemporary Kitchen by MCK+B |
Recently I was visited in the showroom by someone interested in renovating their kitchen in a home they wish to sell in 2 years. I spoke to them a bit about the size of the kitchen and the look they wanted to achieve. I gave them some literature and noticed they also had Home Depot Kitchen Brochures, including what I consider to be the nicest line HD carries which is KraftMaid.We began to discuss the budget for the project and the value of the home, which they revealed to be a $10,000.00 budget including new appliances, in a home valued at $500,000. Granted the kitchen was tiny, it still wasn't a realistic number. A client this far off the mark, may need to explore the market more and hear similar from a few designers before they reevaluate their budget.
I attempted to explain to them what they were proposing was a "Zero Point Renovation". This is a remodel that is so far below what the property value demands that when you go to sell your home, you get absolutely zero to negative credit from prospective buyers. In other words, you may actually get less for your home if you rip out older but nonetheless good quality materials, and put in new poor quality in it's place. When people are spending hundreds of thousands of dollars for a home they will look closely at the kitchen and bathrooms. And if you are going to live there for 2-3 years before selling it, the poor quality renovation will be truly lackluster by then.
When they asked me what is reasonable to spend on a kitchen remodel, I told them 10-15% of a homes value. Now I know there are many who believe the real number is 15-20% , but I think that a well spent 10% is plenty, and if the kitchen is small as in their case, and the appliances are going to be a nice quality GE, but not SubZero-Wolf or comparable, then realistically they could get the entire project done for 7-8% or $40,000. For that with the right design advice, I would expect them to be able to get:
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- semi-custom cabinetry
- basic granite or Caesarstone counter tops
- Ge Profile appliances in black(possibly stainless)
- natural stone or glass tile backsplash(Susan Jablon Mosaics is a great cost effective online resource)
- under cabinet lighting
- recessed lighting in the work area
- under mount sink
- Kohler Pulldown Simplice faucet in Vibrant Stainless at under $300.00 is a bargain
- Hardware is a great thing to save money by purchasing online (I recommend you order samples in at least the amount of the restocking fee, that way you hold them and know you like them before ordering the whole kitchen worth a risk being disappointed)
Stylish Upper East Side kitchen with a view |
I recommend a balanced approached when trying to cut costs. Take advantage of some of the websites and tips I offered above as a way to get a well blended design and the most out of your renovation budget. In the end I believe you'll be more satisfied overall.
Fantastic approach to the often touchy budget subject. SO many kitchen designers don't understand the zero-point rule.
ReplyDeleteJust printed this one off for my people to read... it's a keeper!
What a great explanation of what is & isn't worth it, renovation wise. Anything we can do to simplify the guidelines gets an A in my book.
ReplyDeleteThanks for writing this one!
Fantastic approach to the often touchy budget subject. SO many kitchen designers, very confuse to select one from it.
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