Money Talks: Budget Friendly Projects: Kitchen Remodel

You'd like to have the kitchen of your dreams, but your bank account won't allow it. Or will it? Money reporter Stacy Johnson has a few ways to give new life to that old kitchen for under 5 grand.

Geoff Horen, contractor, says, "We're doing much more needs based remodeling as opposed to wants and desires. So people are doing a lot of maintenance. We're doing a large number of smaller projects..."

Things like kitchen remodels are a great way to improve your home: but they don't come cheap - you can easily spend 20 grand or more.

So how do you bring some new life to an old kitchen without breaking the bank? Start with the cabinets.

You don't have to buy a whole new set of cabinets: a simple coat of paint or peel-and-stick veneer could improve the look and feel for thousands less.

Next, if you've got room, add an island. It can add counter space and storage space...just make sure you've got at least 42-inches of clearance on all sides. Prices range from 150 to 1000 bucks.

What about a backsplash? Ceramic tile, colored glass...even stone. This is a place you can let your imagination run wild - and it's cheap. You can do it yourself, or pay 10 to 40 dollars a foot for professional installation.

For any remodeling project, check out salvage shops like the Habitat re-store. You can find gently used stone counter-tops, hardwood flooring, lumber, even kitchen cabinets and stained glass.

Another idea? Appliances. They're not just nicer looking - new appliances are usually more energy efficient. Update that old white dishwasher with a nice stainless steel one between 150 to 250 dollars.

Bottom line? You can update your kitchen without cooking up a big bill or a bunch of debt. Want some more ideas? You know I've got em for you right here at