We at Dyk&b, hope everyone had a wonderful Thanksgiving with memorable time spent with loved ones and friends.
Starting on a kitchen or bath remodel requires alot of planning both financially and design wise. So, it's good to know what to save for ahead of time. Of course if you're doing a whole kitchen remodel, cabinets and countertops will be your biggest expense. In addition to possible flooring, backsplashes, plumbing work, framing, etc. It is good planning to keep some funds reserved for circumstances that happens after cabinets, walls or flooring is removed. Usually issues are hidden behind the walls or underneath flooring instead of being in plain sight.
A small contingency fund of $500 would be appropriate for minor costs or repairs that arise during the kitchen or bath remodeling process. Bigger issues can potentially cost more. Unforseen circumstances could include plumbing leaks and associated drywall repair, mold, termite damage, dry-rotted subfloors, etc. Contrary to the myth that contractors or remodeling companies are looking to charge you extra for these things unreasonably, look at it as issues that you or them cannot control. Even on HGTV shows, the hosts or contractors will have a discussion with the homeowner (where they are unrealistically okay with it!) about something that has come up in the kitchen remodel and needing more funds.
Either way it is good to be prepared for your kitchen remodel, but reasearch the company you plan to work with, read over the contract given and check references given. These practices will help you decide if the company you've picked will be a good fit.