There are a lot of nice laminates out there...Johnathan Adler, Wilsonart, Formica. Laminate has come a long way

Laminate is a great affordable option. One thing to look for is a company that builds their counters with a plywood core. This will limit your edge options, either square edge or with a solid wood nosing (my preference) but it makes your counters much more durable in the event of a tap leak.

Note this is not the standard in the industry.

I actually love laminate. But it can get pricey, too, unless you can find something you like stocked at a big box. On a laundry room reno, I once got a stock granite cheaper than a special order Formica. Good luck, and don’t be too disappointed. We look forward to your before & afters!

Laminate counter was my first choice when I replaced my counters. It is a work horse. You can get it without the backsplash. I just prefer it. This is Formica Dolce Vita. Sorry, this is the best picture got in my phone presently.

I've done both, but the last time we compared, custom laminate was only a few dollars less than the cheapest granite, so we went granite. Our local source has 4 or 5 "budget" granites and we had no problem choosing one. Some of the other granites and synthetics were 3 times the cost.

Laminate is fine, I would not worry about having to cut back on the budget. But as others have pointed out, check out everything in your new price range. I just got Formica granite look laminate for my basement rec room redo. Even if granite is close in price, my husband and I are doing all the work and do NOT want to lift anything really heavy!