Exploring Short and Long-Term Kitchen Savings
If you’re looking for a way to increase the value of your home as you make it more energy-efficient, upgrading your kitchen is a great place to start. And it doesn’t have to break the budget in the process! From finding contractor warranties that cut costs to sourcing affordable materials, kitchen remodels can be completed on a budget. Learn about several short and long-term kitchen savings opportunities that will help you change the look of your kitchen, while increasing its resale value and saving money over time.
Short-Term Kitchen Savings
There are several ways that you can get a good return on investment during your kitchen remodel project. As you are planning, consider the following kitchen savings suggestions.
1. Plan your project during the off-season
Since spring and summer are the busiest times for kitchen remodeling, scheduling your project for the winter can go a long way toward saving you money. Contractors during this time may be more willing to give you a discount on the labor costs. Additionally, you won’t have to worry about prices for appliances and materials increasing with the demand of the peak seasons. Although it may not seem ideal, winter may be the best time to go forward with this home improvement project.
2. Do some of the project yourself
If you are able to do some of the project yourself, you can save a significant amount of money. Some areas that can be turned into a DIY project include removing cabinets, appliances, and countertops. Also, you can pick up the materials yourself to save on delivery costs, as well as paint doorframes, walls, appliances, and cabinets to bring down the cost of labor on your kitchen remodel project.
3. Buy your own appliances
If you are not able to get a deal on appliances from your contractor, you can save money by buying them yourself. Stores often have sales throughout the year for refrigerators, dishwashers, and range hoods, Keep an eye on what stores have sales and, if you have to, store your appliances in the garage until it’s time to have them installed during your renovation.
4. Keep your existing kitchen layout
If you like the layout of your current kitchen, you can save money by not having contractors change it. Keep in mind that moving things like ovens, sinks, and walls can hike up the cost of your project – because wires and plumbing will need to be changed. You can avoid these costs by keeping the layout you already enjoy.
Long-Term Kitchen Savings
Many homeowners are hyper-focused on short-term savings when planning a kitchen remodel, and forget about long-term savings opportunities that can be enjoyed by renovating. Just as there are ways to save on your kitchen remodel project as it’s in progress, there are also ways that you can continue to save money down the road. The following are some examples of these long-term kitchen savings.
1. Energy bills
If your appliances are older, chances are they are not running efficiently and are significantly driving up the cost of your energy bills. Just as you can save money when you buy appliances yourself during your remodel project, you can also save money on your energy bills by getting energy-efficient kitchen appliances. When you do this, you will see the return on investment every single month for years to come. If you do not purchase your appliances yourself, talk to your contractor about energy efficient options that are available.
Old or damaged appliances are not only a drain on your energy — they’re also a drain on your wallet when you need to get them repaired. These repairs can really add up over time. In fact, they often result in spending more on upkeep than the cost of investing in new appliances.
3. Increasing resale value
Renovating your kitchen can significantly increase the resale value of your home, which goes a long way toward putting more money in your pocket. Even if it’s not a major kitchen remodel project, you can still make your home more attractive to buyers and boost the amount you receive on the deal when you sell.
Just like any other home renovation project, there are going to be tradeoffs between long and short term savings in your kitchen remodel. For example, some materials may cost more upfront, but they will likely save you money when it comes to utility bills in the future. Knowing what option is best for you likely depends on how long you intend to own the home and what the market is like in your area. For instance, if it’s a buyer’s market, you might need to be more aggressive with your upgrades.
All in all, make sure to find the right contractor for your project. A vetted professional will give you the best advice on how to move forward with your kitchen remodel in a way that fits your short-term budget as well as long-term savings goals.