Whether you’re thinking about selling your home or simply updating your space, home improvements can yield a great return on investment. You get to enjoy the upgrade and increase the value of your property at the same time.
It sounds like a win-win until you go overboard. Home improvement projects often take more time and money than anticipated. Here are a few ways to improve your home without breaking the bank.
1. Don’t Budge From your Budget
The options for fixtures, flooring, and finishes are endless. However, you can truly enjoy your home improvement only if you are not saddled with debt.
One way to keep yourself on track is to use a debit card. When you see the money leave your bank account immediately, you are more likely to feel the pinch. This way, you’ll be less tempted to pick the most expensive upgrades. If you link your card to an account specifically allocated to home improvements, you can see as the money runs out.
In contrast, when you charge purchases to credit cards, you don’t have to pay the full amount immediately. This is a slippery slope, and you can end up spending more than you can afford. If you only make minimum payments, the compounding interest will cost you a lot more in the end.
- Earn Dollars by Decluttering
Once you have a budget, start decluttering so you have space to enjoy your home improvements. You don’t want your newly enhanced space filled with a mismatched array of stuff that’s been collecting dust over the years.
Tackle one room at a time and make three bins: keep, donate, and discard. From the donate pile, see whether you can have a yard sale or sell items online. You never know who might be collecting the dinnerware you haven’t used in a decade. The same goes for kids’ toys and collectible cards. If they haven’t played with it for a year, out it goes.
Use the money you make from selling your family’s unwanted stuff to fund your home improvement projects. And if something does not sell, you can always get a donation receipt for tax purposes. The only rule everyone needs to follow? It doesn’t come back inside the house.
- Ply the Power of Paint
It might sound obvious, but paint is the most cost-effective way to add some oomph to any space. Experts say upgrading kitchens and bathrooms provides the best return on investment. When on a budget, start with the cabinets. A new color will make a huge difference at a fraction of the cost of new cabinetry. That’s because the original structure remains intact: You just remove the doors, paint them, and screw them back on.
If you’ve always had dark cherry cabinets, for instance, painting them white or light gray will make your space much brighter. If you’ve always had light-colored cabinets, a deep forest green or navy makes a cool change. You could outsource the painting to professionals or do it yourself. Either way, it’s one of the least expensive ways to update a kitchen or bathroom.
- Switch Out Your Hardware
You use your drawer knobs and door handles countless times each day but probably take these features for granted. Updating them is an inexpensive DIY project that offers an instant facelift. Shiny gold, brushed nickel, and matte black are popular finishes, and cabinet hardware is easy to find and install.
You could take a trip to the local home improvement store or find endless options online. Even if you do it in stages, aim for adjacent rooms to have coordinating hardware. It may seem trivial, but it pulls spaces together.
Replacing faucets is another economical home improvement. There are so many new designs that take an ordinary sink up a notch. You can watch videos online and try it yourself. However, if you are not very handy, hire a plumber. It might cost a little more, but you won’t have to worry about any leaks or water damage.
- Lighten Up!
Not all light is created equal. Lighting can make a difference in how you feel in a room. Warm, glowing light is a better choice for bedrooms and living rooms where you want to feel cozy and relaxed. In contrast, cool light is more suited for kitchens and craft rooms where you need to see things in more detail.
Fortunately, you don’t have to invest in a new, exorbitant chandelier to make an impact. Start your search on Facebook Marketplace and other such online spaces for used pieces. You never know: Someone down the street may be retiring their light fixtures, and you could upgrade your space for no or low cost.
Check the clearance section at home improvement stores, too. Oftentimes open-box returns are marked down considerably. Unless you are a pro, though, always have an electrician install light fixtures so you’ll know it’s been done correctly.
- Employ Your Peel-and-Stick Skills
Flooring can be one of the most expensive home improvements. Save money with peel-and-stick tiles. True, you might not want this material to play a starring role in your living room or another high-profile area. But the range of designs and sizes make it an appropriate and economical choice for laundry rooms, mud rooms, and other small spaces.
You can also enjoy the low cost and convenience of such tiles for a kitchen backsplash. They are easy to wipe down without messy grout. If you currently have a busy backsplash, add a white subway-tile motif to see how it instantly elevates your kitchen.
Peel-and-stick wallpaper and large decals are also an inexpensive way to add interest to your walls. They are easier to apply — and remove — compared to traditional wallpaper. From bold abstract patterns in a study to vintage florals in a bedroom, the possibilities are endless.
With the right home renovations, you can make your space truly your own. Plan your projects in phases so you don’t get overwhelmed — or worse, run out of money and leave them unfinished. By doing your research and shopping around, you can get the results you want without putting the hurt on your bank account.