If you, like me, have a small kitchen, your remodeling budget is probably also limited.
In the throes of a small kitchen remodel, it’s easy to lose track of exactly how much money you’re spending, and to go over budget, sometimes quite substantially.
Here are some warning signs that your project may be heading into overrun territory.
- Delivery charges are not budgeted for and turn out to be substantial
- Agreements have been made by handshake only, nothing is written down
- Things you intended to DIY turn out to be harder than expected, and you’re going to have to pay someone to do them.
- The cheap cabinets/appliances/sink/whatever turns out to be backordered for 6 months and you’ll need to pay extra for a more expensive one (and futher changes may cascade from this change, adding even more to the cost)
- The project is 1/4 way through and you’ve spent more than 1/2 the money
- You’re not keeping track of the expenses
- You never budgeted the expenses in the first place – never added up what you epected to pay and got a total
- Your house is old and every time you start a project, you find something else that needs fixing before you can proceed. My house was built in the 1930′s and I know I’ll find unexpected surprises every time I start a project.
- Your house is new and was apparently built by a crew of monkeys who did everything wrong (I’ve experienced this too.)
- Your electrical service barely supports the existing loads, and you plan to have more in the new kitchen. Get an electrician in to tell you if you need to upsize your electrical service and possibly install a new panel.
- Your contractor disappears for weeks at a time, leaving you in mid-remodel. This does not bode well for him ever finishing the project at all, especially if you’ve already paid him all or most of the price.
- Your partner has delusions of grandeur, specifying finishes or appliances you know you can’t afford.
- You have no plan (of the new layout, if any, or of the work to be done). You know what they say about failing to plan…
- You have no financial cushion for unexpected expenses. Always budget 10-20% of your calculated project cost as a cushion. If you need it, you’l be glad you set it aside: if you don’t – hurrah! It’s the seed money for the next project!
If none of these apply to you, great! Maybe your small kitchen remodel will be one of the few that comes in on time and on budget.