Renovating Your Kitchen During an Uncertain Economy: Tips on Budgeting for a Remodeling Project During Times of Inflation

You have your sights set on creating that dream kitchen or luxurious bathroom in your Hudson Valley home in 2024. But what about those inflationary prices that come during uncertain economic times? Some reports predict the economy will grow in 2024, while others are more cautions.  How does this affect budgeting for your project?

The design team at Affordable Granite & Cabinetry offers these tips for moving ahead with your kitchen or bathroom renovation during a slow economy (and high inflation), without adding stress or going over budget.

kitchen remodel budgeting

 

Budget extra time

It seems that two or three years ago, most consumers had not considered the term “supply chain” as anything that affected them. The pandemic changed that as the wait times for building materials slowed down to a crawl. Although the pace has picked up, wait times are still lagging.

We advise you to factor in additional time to receive your materials (cabinetry, countertops, tile, or flooring) and for your contractor to get to your project. Those lag times have a domino effect on how the construction trades schedule their jobs. Budgeting extra time will save you the stress of “when is it going to be done?”

Consider some DIY demolition

Labor costs are also up this year. Talk to your contractor about what you can take on in preparation for your kitchen or bathroom remodeling project. Ask about what has to be done before anything is reconfigured or installed. If you’re handy (or know someone who is), and can take on some demolition—safely and correctly—you can save a little money.

Choose different materials or vendors when budgeting

Choose less expensive products that are still high quality and just as beautiful to save some money on your renovation without sacrificing quality and beauty. For example, granite is usually more a budget-friendly countertop option than other natural stone. Vinyl plank flooring has the same dramatic effect but may cost less than the natural stone or hardwood you were looking at. Or one plumbing company may make similar bathroom fixtures that cost less than the originals you liked. To help with budgeting, you can check Build.com for well-priced fixture brands.

A benefit of working with Affordable Granite & Cabinetry is that you’re assured of having a variety of top-quality manufacturers to choose from, with a broad array of products at different price points. Our designers will show you the breadth of products we offer for your kitchen and bathroom, and will help you select what works best for your budget and design goals.

Be willing to compromise

Love that premium glass mosaic tile wall you’d planned on for the shower? It’s gorgeous but might be eating up a large portion of your bathroom makeover budget. Consider using less of it—perhaps as an accent border—and use more porcelain tile that costs less per square foot. You’ll be pleasantly surprised at the colors, styles, and finishes available in porcelain tiles today, and they pair beautifully with glass tiles. You’ll still have a beautifully designed space and no one needs to know you didn’t break the bank on materials!

Take advantage of financing

One of our suppliers, Cambria, offers up to $100,000 in financing on your kitchen or bathroom remodel as long as you order one or more Cambria quartz countertop items for your project. This can be as small as a vanity top to a kitchen island or the full “nine yards” in your new kitchen. Find out more about Finance by Cambria™ for your residential remodeling project or ask your Affordable Granite & Cabinetry designer.

Contact the designers at Affordable Granite & Cabinetry

Come into our Fishkill showroom to browse our huge selection of home remodeling products for your Hudson Valley home, or schedule a consultation to discuss your kitchen or bath renovation with our design team. We serve clients throughout Dutchess, Putnam, Orange, and Ulster counties, and look forward to helping you with your remodeling project.