Kitchen Renovation Costs

HawaiiUSA Federal Credit Union’s lending team answers a reader’s question about financing.

Our family is looking to update our kitchen, but we know remodeling projects are expensive. Between building funds for our children to go to college and other household expenses, what realistic expectations should I set for saving up for a renovation? What options do I have for financing kitchen renovation costs with or without loans? – K.D., Aiea homeowner

HawaiiUSA Federal Credit Union Lending Team: A quick search on the web for “kitchen renovation costs” yields shocking results. Forbes puts it at $27,000 on average; Bob Vila says “$14,551 to $40,541.” The list goes on. Many sites require you to input information that ultimately results in an overloaded inbox. While we can make an attempt at giving pointers to save money, the web also gives a load of advice when one searches for “ways to save money on a kitchen remodel.” One common way is by balancing function and fashion with your budget. Compile a list of pointers from various sites that meet your appetite, and compare it with a trusted source who has knowledge on kitchen remodels.

And look into other ways to save money to help offset the costs of a kitchen renovation, or at the very least save you money in general. Overall improvements to your home can free up an otherwise untapped source of funds: tinting of windows to reduce heat; use of energy-efficient appliances like LED lighting, propane or natural gas stoves, tankless heaters and clothes dryers; hanging your clothes to dry instead of using the machine; changing out older fridges and/or freezers; installing a solar hot water system. Anything that lowers your expenses means more money to finance other projects — including your kitchen renovations.

Whatever happens, the combination of online reviews and word-of-mouth referrals from friends and family you trust for your kitchen renovation project will help avoid headaches down the road. And financing this with money freed up from a more efficiently running home is a great way to start.

Got a question for our experts about design, building or remodeling? Send your inquiries to darlenedc@hawaiihomemag.com for tips and advice straight from local home industry professionals.

Editor’s Note: This article has been slightly modified from the original print version for optimal online reading. To view the full print story, subscribe to our digital edition or pick up your copy of Hawaii Home + Remodeling at one of our partner locations.