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Budgeting for Your Kitchen Renovation: A Comprehensive Guide by Customer First Financing

Transforming your kitchen is more than just a home improvement project; it’s an investment in your property’s value and your quality of life. However, kitchen renovations can be expensive, and the costs can quickly spiral out of control without a well-thought-out budget. At Customer First Financing, we’re committed to helping Canadians make informed financial decisions. In this blog, we’ll discuss how to budget for a kitchen renovation effectively.

Step 1: Assess Your Financial Situation

Before you start picking out countertops and appliances, take a hard look at your finances. Determine how much you can afford to spend on the renovation without jeopardizing your financial stability.

Step 2: Get Estimates

Contact several contractors to get a ballpark figure on what your kitchen renovation might cost. Make sure these estimates include everything from labor to materials. It’s always a good idea to add a 10-20% contingency for unexpected costs.

Step 3: Break Down Costs

List down all the individual components of the renovation, from cabinetry to flooring, and allocate a portion of your budget to each. Here’s a general guide:

  • Cabinetry: 30%
  • Appliances: 15%
  • Labor: 20%
  • Countertops: 10%
  • Flooring: 7%
  • Electrical and Plumbing: 5%
  • Decor and Finishing Touches: 5%
  • Contingency: 8%

Step 4: Explore Financing Options

If your savings won’t cover the entire project, consider taking out a personal loan. At Customer First Financing, we offer loans with fixed interest rates and flexible repayment terms, providing a structured and predictable way to finance your renovation.

Step 5: Monitor and Adjust

Once the project is underway, keep a close eye on your budget. Make sure that the actual costs are lining up with the estimates and adjust your budget or project scope as necessary.

Step 6: Emergency Buffer

Always have an emergency buffer set aside. Despite the most meticulous planning, unforeseen costs can arise, such as electrical issues or plumbing updates.


Renovating your kitchen is a major undertaking that requires careful financial planning. By setting a budget and adhering to it, you can create the kitchen of your dreams without turning it into a financial nightmare.

Need help with financing your kitchen renovation? The team at Customer First Financing is here to assist you with personalized loan options tailored to your needs. Contact us today for more information.


Sep 7th, 2023