How much should I spend?

Hi Guys,
I am planing on putting in a new kitchen into our investment property, the current kitchen is very dated and has very limited storage. How much do I spend without overcapitalising? Is there a formula that I need to do before I start spending? Help would be much appreciated.
 
I've got this piece of string here... how long is it? :D Seriously though, although there are rules of thumb like Brian84 has suggested, there are so many variables.

eg. replace doors, but leave benchtop
- new or replace spashback
- if the existing layout works - or not - does it need to change significantly?
- does the plumbing need to move?

Our last one, we simply used tile paint on the bathrooms to freshen them up (~0.005% of the value) while we (over)spent on the kitchen (~4% but still < $12k on a $350k prop).

Look at similar renovated properties on the market, and try to replicate them on a budget) and a lot depends on what you can get away with.
 
Thanks for the advice guys. I will take all into consideration, this is our first Reno so I need to ask lots of questions. Thanks.
 
Ask away, that's what the forum is for. I only joined late last year and have already learnt heaps from some great people on this forum.
 
Thanks Brian. I like your quote, it's inspiring. I really don't want to spend too much, I got a kitchen guy to come and measure up and he will give me a quote by the end of the the week. My other option was to go on to Kaboodle (Bunnings) and get flat pack kitchen and get it installed.
 
Hello and welcome .

There are many ways to do a kitchen without replacing everything, but sometimes it is quicker and thus cheaper when you consider labour costs to rip out all the cupboards and start again. Is it a basic house or a more upmarket property?

The affordability will also depend on the size and shape of your kitchen. eg is it an open L-shape or an enclosed U-shape where you have to be more precise with fitting inside a confined space?

If you post a few photos we can give more ideas.
 
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