Home improvement is the term used to describe a variety of renovations and home additions. They can be done for a number of reasons, including personal preference and comfort, maintenance or repair work, making a home bigger by adding rooms/spaces, to improve energy efficiency, and to improve safety.
Whether you’re planning to sell your house, rent it out, or stay put, a few renovations can add to the value and enjoyment of your home. Some of these projects are simple, while others may be more involved. But no matter what you decide to do, there are ways to make it affordable and rewarding without spending a fortune.
1. DIY Wall Painting — It’s a Budget-Friendly Project
If you want a fresh, bright look for your room, consider painting an accent wall with one of the many available paints. A gallon of paint can cost less than $30, and it can transform any room. Plus, it’s an easy DIY that doesn’t require a lot of skill or equipment.
2. Installing Crown Molding — It’s Not Hard to Do
If your ceilings need a little pizazz, consider putting in some decorative strips that you can easily install yourself. These come in a variety of shapes and colors, so you can create a look that’s as unique as you are.
3. Update a Bathroom and Save Money
Replacing old toilets, sinks and showers can add value to your home while also saving you money on your energy bills. New fixtures, lighting and ceramic tile can all help you get the look of high-end options without breaking the bank.
4. Do It Yourself or Hire a Professional — Depending on your skill level, do it yourself projects can be a great way to save money while still getting the results you want. Some homeowners choose to hire a contractor to tackle large-scale projects like kitchen remodeling or basement finishing.
5. Don’t Overspend — Don’t spend more on your home improvements than you can afford to pay off.
If you’re unsure how much you can afford to invest in your home, it’s best to take your time and do your research. A little homework can lead to major savings down the road.
6. Avoid Going into Debt — It’s not always a good idea to go into debt for home improvements, especially if you’re trying to spruce up your home before selling it. That’s because you can end up paying thousands of dollars in interest and never own anything of the renovation.
7. Over-Personalized Renovating — It’s Not Always Worth It
If your remodeling project is designed to increase the value of your home, it’s important to make sure you don’t overdo it. For example, if you choose to replace your tile floor with marble or hardwood, the new materials can make the space feel more expensive and less welcoming. That’s not a look you’ll likely appreciate later on.
To ensure you don’t overspend on your renovation, check with your real estate agent before you start to plan out the project. A real estate professional can give you valuable insight about what home buyers in your neighborhood are looking for. You may also find some tips about which upgrades you should prioritize to maximize your return.