It is important that you have a well-planned kitchen that reflects your lifestyle. A well-planned kitchen also increases the value of your property. It can also ensure a higher rental income if you decide to rent your home in future.
If you are planning to get kitchen renovation done, you need a good plan. In this article, we’ve discussed 6 key factors that you need to consider while planning your kitchen remodelling.
Here are the 6 key factors to consider when planning your kitchen renovation project:
1. Research and Create Your Wish List
Research sounds obvious but it is vital. You should ask yourself these two questions and remember to jot down the answers.
What do you like about your current kitchen? What works and what would you keep?
What do you dislike about your current kitchen? What really drives you mad? Maybe it’s really dingy and there isn’t enough lighting. Maybe there’s not enough storage or the fridge is too far away from the oven.
The answers to these two questions will help decide what you want and don’t want in your kitchen. Make a list.
2. Set Your Budget
The other thing of course to consider is your budget. Now that you have some idea of what you want to do for your kitchen, it’s time to start doing your due diligence. This is when you start looking for quotes for the materials and installation items. This exercise will help you in determining the budget for your kitchen.
3. Set a Project Timeline and Prioritize Where Needed
A home renovation can be time-consuming. No one wants to struggle their way through the festivities when guests pour in and you have no access to your kitchen. You may even have a holiday planned few months down the line or your in-laws might stay over for a few weeks. There should be room for everyone! Set your renovation project timeline to avoid confusion.
4. Have an Alternate Plan for Storage
Getting your kitchen renovated is a pretty demanding task. When you have no access to your kitchen, you will have to move most of your equipment around. Things like your fridge, kitchen utensils, food processor and stove will need a lot of space. And the best place to arrange these items is in your living room.
Try to spread them out without blocking the way. Make sure there is a clear passage for workers to move in and out. You also need to ensure you have enough water supply to cook and consume water throughout the day. The kids will also need their lunchboxes packed. You will be rushing to work as well so make sure you prepare your meals well.
5. Plan a Cushion to Your Budget
Often times, you may have leaks and damage in the sink that need attention. Since you are already spending time and money to renovate your kitchen, you might as well plan a 20% cushion into your budget. These expenses may or may not come up but it’s best to keep a certain amount aside anyway. Fixing water damage and broken sinks can help with the resale value of your property. So always consider unexpected expenses. A personal loan for home renovation can come handy at such times.
6. Give Your Kitchen a Personal Touch
Another good idea is to give your kitchen a personal touch. You know you’ll be spending a lot of time in your new space so make sure you like walking into the kitchen every time you meal prep. Customized kitchen renovations are available that are tailored to your preferences. So let a remodelling expert know how you want your new kitchen to look like. That way you’ll get your desired results.
By now, you would have a clear idea of how you want your kitchen to look like. You know whom to contact and make all the necessary arrangements to kickstart your renovation. But one major commitment you will be making is finance.
Have you thought through how you’ll bring everything together? You definitely won’t want to make any compromises on your dream kitchen. If you’re on a tight budget but want some extra cash to turn your dream kitchen into reality, MoneyTap’s personal loan for home renovation can help.
How Moneytap’s Personal Line of Credit for Home Improvement Can Help You Financially in Your Kitchen Remodeling Plan:
So it’s time to rediscover your new space! You can make your kitchen a lot more functional than it already is. If you’re on a shoestring budget, you may have to make a few compromises. But to ensure you don’t settle at any point, MoneyTap can help.
MoneyTap’s personal line of credit for home renovation is available for all your kitchen renovation needs. With just 4-minute approvals, you can give life to all your big dreams.
What’s more? You don’t need to wait too long to get your loan approved. With a swift loan application process, MoneyTap helps you save time and frequent trips to the bank.
MoneyTap offers personal loan for home renovation at a competitive interest rate starting from 1.08% per month.
With flexible repayment options, you can choose the EMI amount and the repayment period (ranging from 2 to 36 months) you are comfortable with.
Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at [email protected]