From: Tracking Our Debt
Without a home renovation budget in place renovating your home can quickly and easily slide out of control. Unlike other locations in the world, the cost of products and the cost of manual labour in Canada is quite high. For example, a complete kitchen renovation for an average size home could easily cost you $50K to $60K, or more, if your budget is not managed properly. However, you could renovate your kitchen for quite a bit less, if you do your due diligence, create a detailed budget, and manage it well, every step of the way. To get yourself on the right track, follow these guidelines as you investigate your options and requirements, and create your kitchen renovation budget.
Inspect Your Home for Old Wiring and Old Plumbing
Depending on where you live in Canada you may or may not be in a home that has old electrical wiring and old plumbing.
Doing a complete kitchen renovation will mean that you will be working with the electricity and plumbing at some point. So the first thing you want to do is to determine the status of your wiring and your pipes.
Are they old and in dire need of replacement or are they up to code and installed properly?
As I am sure you are aware, if you determine that either or both need to be replaced, the cost to renovate your kitchen just increased significantly. But, by figuring that out before you begin your demolition, you will be able to include those costs in your budget and adjust your finances accordingly, or delay your kitchen renovation until you have more money.
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