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New kitchen

We would like a new kitchen in our late 60's home and potentially take down a wall so it opens into the lounge (first pic represents the wall). We'd like modern on a budget as the home is located in Otahuhu. FYI, we are recent first home owners and unfortunately the bank wont lend again for 12 months, however if anyone has finance options we would have the work done ASAP, if not we would be looking at early 2014. Either way we would like to know what amount to save.