Budget Finalization

You have done all of your homework and have adjusted your proposed products and appliances to get the most out of each item. It is a juggling act and you will find yourself wanting to spend more on items or materials that are important to you and less on others or areas that can be less obvious. Gather all of your estimates for products and appliances (that you will be purchasing), design fees, contracts, and loan paperwork together. Adding up their costs will give you the projected cost for your new kitchen. You should then include an additional 15-20% of that total figure to cover cost overruns or changes--just in case. This should give you a final budget figure to take to your loan officer.

No matter what your budget is, you want to keep it under control. It is very easy for that money to burn a hole in your pocket before it is time to make the last contracted payment--which may be several months down the road. Resist the temptation and keep this money earmarked for this project as contracted. Your contract will state when and how much is due at different construction intervals--the best contractor is a paid contractor!

Our Personal Project Organizer includes a budget sheet that will help you reach a final amount as well as a receipt envelope to help you track each item and its associated information. It is a good idea to create a checklist for all products, materials, and appliances so that you can make sure it is exactly what you ordered and that you receive all that was included in your contract.