One of the best ways to increase the value of your home is to make small, budget friendly renovations or redesigns to your home. There are many ways you can improve your home, and with small home improvement loans you can possibly even recoup what you borrowed by increasing the value of the home after the renovations are complete. While real estate markets may still be slow, selling your home may not be a consideration, but another option are home improvement loans for renovations that make your house more livable at a much cheaper cost than buying a new home. Even without a home improvement loan, there are many simple, budget friendly redesigns you can do for less cash to make it more livable or fit for a sale.
Below are six tips that are easy on your bank while still offering great value.
Keep it simple: Rather than doing a full renovation to a room or the whole house simplify your projects to make renovating more budget friendly. Make a room more spacious by getting rid of clutter or items that are not useful or noticed. Rather than expanding your home or a space, try reworking it by moving furniture or removing walls and cabinets that may block views.
Kitchen: If you are trying to resell your house the kitchen and bathrooms are where most buyers would like to see improvements. Try going with a mid-size kitchen project rather than a total renovation. One of the most used places in a kitchen is the sink area. Update it with a dramatic high-neck faucet or replace a tired and stained sink. Add a back-splash to bring personality to your kitchen. If there is no room in the budget for new cabinets, freshen up the entire look instead by replacing the hardware for around $100. Finally, flooring can instantly change the look of your kitchen, and there are a lot of great products in the market that are inexpensive and easy to install, including cork, tiles, hardwood, or if your house is on a slab keep the concrete but dress it up with a paint glaze.
Bathrooms: Remodeling a bathroom can take some major money, but there are small, budget friendly things you can do to make a bathroom more attractive. Change out the lighting fixtures if they are out of date. Update the paint of the bathroom along with the shower curtain. Add instant appeal to the bath by changing the floors. Finally, repaint the vanity and replace the faucets for instant, inexpensive looks.
Living Areas: Installing new ceiling fans can give a room a new look just like a fresh coat of paint can. One of the easiest solutions for living areas is to bring in a new rug. Update windows by installing new blinds or curtains for another big change without blowing the budget.
Outdoor Spaces: Rather than spending large amounts of money on an addition to your home consider creating outdoor spaces that are much more budget friendly. Building a large patio or deck that can accommodate your needs for space and function is a much more frugal investment option. Creating gardens and focal points in your yard draws people outside to areas of interest, in effect expanding your living space.
Go Green: Installing new windows, insulation, or doors that protect your heating and cooling costs will not only help out your wallet but will also entice buyers if you are trying to sell your home. Invest in money saving appliances that are energy star rated, or install a tank-less water heater for even more cost saving, budget friendly renovations.
Act as your own contractor: If you plan on doing major renovations, rather than hire a general contractor, be your own contractor. Bring in large amounts of savings by researching companies and products and managing them yourself.