5 tips for renovating your kitchen on a budget

Everyone wants a beautiful kitchen, but not everyone is willing to pay a high price. Luckily, renovating a kitchen doesn't have to deplete your savings; here are a few ways to renovate on a tight budget.

According to the Huffington Post, the average cost of a kitchen remodel in Canada is $23,300. Before renovations begin, be sure to prioritize your must-haves, remain flexible and keep a few low-cost renovations in mind.

Before starting any renovation, it is important to choose the right contractor. While it may be tempting to opt for the person with the lowest price tag, remember it is always better to do things right the first time. Also, be sure to verify the contractor's credentials and ask for references. To be on the safe side, keep some extra money on the side for unforeseen costs. HGTV Canada recommends having a buffer of 10 to 20 per cent in your budget for unexpected costs.

The largest portion of a person's budget is spent on cabinets and appliances. In order to save money, homeowners may want to consider recycling existing cabinets by refinishing them with new varnish or a different colour paint. This will not only save on the cost of new cabinets, but also require substantially less labour.

Because stainless steel remains the most popular finish for appliances, there are tons to choose from. Shop around because this high-end look can be achieved with a less expensive brand. Shop for a comparable appliance to save money without having to compromise on reliability. While shopping, consider asking for a discount if buying more than one appliance, or purchase an open-box appliance to save as much as 40 to 60 per cent off the list price.

If you can't afford a full granite countertop (which averages about $100 per square foot), you can still update your countertops with less-expensive materials like quartz or Corian, which range from $60 to $75 per square foot. For even more savings, a laminate countertop runs an average of $25 to $50 per square foot and is extremely easy to install. To achieve a high-end look at a lower cost, pair an affordable countertop with a beautiful tile back splash.

With these easy tips for renovating a kitchen on a budget, you will be on the fast track to having a dream space without breaking the bank.