*Updated 8 January 2024
The kitchen is the most used place in the house. So, it can start looking old and sloppy before you even notice it properly. The good news is that a kitchen renovation can be done easily, and it doesn’t have to be heavy on your pocket. If you plan it accordingly, you can renovate your kitchen properly on a reasonable budget. Your kitchen renovation costs will depend on the type of kitchen you dream of.
Some people prefer the minimal design of the kitchen, while others prefer it to be cosier, giving a home-like feeling.
The kitchen renovation cost has increased mainly due to the rise of COVID. Research conducted by Cordell Construction Cost Index showed that people have started building more houses and buildings, which has caused an increase in prices for raw materials.
In Australia, it has proven hard to purchase materials used for kitchen renovation. In 2021, the Australian Trades job platform stated the average renovation kitchen costs in Australia was around $22,000-$42,000.
Then in 2022, a report by renovation platform Houzz stated that people were spending even more money on renovations than in previous years.
So what are the kitchen renovation costs in 2024? We answer all your questions here.
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Calculate cost with the help of a kitchen renovation cost calculator
According to Forbes, you can get an idea of the renovation cost by calculating it on the kitchen renovation cost calculator by considering your budget. The main variables include kitchen cabinets, sink, benchtops, kitchen appliances, splashbacks, etc.
You can calculate the cost by adding the installation price to these variable prices. The kitchen renovations costs estimator will not give you a reasonable cost but will provide you with an estimate.
Options for financing the kitchen renovation
Your kitchen renovation costs of course depend on your kitchen renovation ideas and your budget. There are many unique options available for you to renovate it according to your financial situation. Some of them include loans; for example, if you think that the kitchen requires a lot of renovation that might cost more than your budget, you might need to consider a home loan or personal loan.
The other option is credit cards. The benefit of paying through a credit card is that it offers extra insurance coverage. But you need to keep in mind the interest rate of credit cards because usually, the interest rate is higher than the personal and home loans. So it would help if you weighed your options first.
How to keep your kitchen renovation costs down?
There are many reasonable ways to keep your kitchen up to date with a lower budget. Some of them are are:
Update your cabinets
The first thing that catches everyone’s attention in a kitchen is the cabinets. So updating them will be an inexpensive way to renovate your kitchen.
You can also save up some money if your existing cabinet’s drawers and doors are in good condition. Giving fresh paint and changing the fixtures will provide you with a proper new polished cabinet that will change the whole vibe of your kitchen.
Restore the appliances
You can also save up some costs by fixing your existing kitchen appliances. You can service them and make them sound like brand new appliances.
Some of the devices that require basic skills to restore include a microwave, dishwasher, water heater, refrigerator, etc. You can save a lot of costs by fixing them instead of buying new appliances.
DIY countertops
You can save a lot of cost by using your DIY skills on kitchen countertops. Making designs of your own choice on the countertops will give you a feeling of satisfaction, and you can use granite or cement material for the procedure.
Or make it look unique by installing a bare laminate countertop.
Buy kitchen needs with coupons
If you plan it accordingly, you can renovate your kitchen properly on a reasonable budget. Your kitchen renovation costs will depend on the type of kitchen you dream of, but if you want to renovate your kitchen on a budget, you can search for décor stores or websites like EMUCoupon.com that offer kitchen and dining coupon codes, this can help you to get big saver discounts on your desired items.
Make a breakdown of kitchen renovation costs
The first thing that you need to do while thinking of renovating your kitchen is to break down the costs. For the estimate, you can consider these values that are currently used in Melbourne, Australia.
- For primary kitchen material and fittings, you will need approximately $10,000 to $20,000
- For a mid-range kitchen, you will need $20,000 to $45,000
- You will need $45,000+ to apply high-end appliances and fittings for an elite and customised kitchen.
You can estimate these renovation costs by hiring a local kitchen builder. They will provide you with current market prices.
The unforeseen costs in a reno
No doubt you can easily cut some costs while updating your kitchen setup, but still, there are unavoidable costs that you need to pay. These include paying a plumber, electrician, gas-fitter, person who fits tiles, carpenter, painter, polisher, etc.
You can even hire a team that can renovate your kitchen without the hassle of hiring all these different tradespeople. While hiring a tradesperson, you should first ask for a quote from them for the job they are supposed to perform, such as asking them about the standard price of painting the kitchen walls. It will give you a rough idea of how much each task costs.
Things that affect the costs of kitchen renovation
There are many things that you need to consider that affect the costs of the kitchen renovation. One of them is the broader economic environment. For example, if your kitchen was made several years ago, it will require more extensive renovations to update it.
Another thing that affects your kitchen’s size is the extra cost if you’re looking for expansion.
Next is the quality of material you choose for renovation and whether you install appliances yourself or hire tradespeople. It would help if you consider that while renovating, uncovering existing problems can also arise, such as a hole in the wall, or mould behind the cabinets; these things might add extra costs to your planned budget.
While planning the whole budget for the kitchen renovation, consider an additional amount for the overruns.
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