Understanding the facts about Savannah Custom Cabinets
Finding the percentage of the value of your home that you should use as a budget guideline is the key to determining your budget. I ran across recommendations for using percentages ranging from 10 percent to 25 percent of home value while researching this article. I find anything less than 15 percent to be a very doubtful number for a kitchen remodel of any substance that includes new flooring, appliances, cabinets, sink/faucet, lighting and bringing electricity up to code.Kindly visit Savannah Custom Cabinets to find more information.
I suppose 10 percent would be a workable budget on a million-dollar house, but a 20k budget on a 200k house is marginal at best for a full-blown kitchen remodel. If resale value is important to you, keeping the cost of your kitchen renovation project within 20 percent of your home’s current value is wise. Staying within this range guarantees that a majority of the cost of the new kitchen is immediately recovered in increased home value, and as your home appreciates, the remaining cost should be recovered within 5 years.
All right, let’s just run through an example. Keep in mind, the exact formula here is not available. We simply do our best to be as informed as possible and to make a wise decision on how much to spend on the remodelling of our kitchen. Let’s use my house for our own example.This is a 50’s cape cod, with a modest 1500 square footage. Value of factor 1: Zillow gives me an estimated value of $167,500, but I note that Zillow has not yet updated and accounted for the single-family homes that were recently built with a starting price of $270k in the field behind us. Our square footage is also listed in Zillow at under 1200. Looks like, without a permit, the previous owner did a little remodelling. I’m going to base my budget on a price of 180k, which is comparable to the same size of other neighbourhood houses.
Kitchen Design Solutions
760 King George Blvd Suite E, Savannah, GA 31419