For one remodeler, "reverse budgeting" helps clients define and stay within their budget range.
1. The average cost of kitchen projects in the $50,000 to $60,000 range. “This is using really nice upper-midrange quality products, cabinets, and appliances,” remodeler Darius Baker says. 2. In this price range, Baker used eight projects to determine the average cost. The more projects compared, the more accurate the figures. In the $80,000 to $90,000 range (not shown), Baker only had three projects. 3. In this range, clients spent an average of 6.2% of their costs (or $4,682) on electrical materials/fixtures. Baker tells clients, “In a kitchen like this, for this money, you can expect to get eight recessed lights, three pendants, and [enough] undercabinet lights.” 4. This area describes to clients what they might expect to happen at each cost range. Armed with the chart’s information, clients can make better-informed decisions and easily determine where to spend more money or to cut back.