Home Improvements on a Budget

Home improvement projects sound fantastic until you start researching how much they are going to cost. The dollar signs start to add up and your interest in going through with the project begins to wane. An average bathroom remodel approaches $20,000, while a kitchen or master bedroom project will likely be much higher than that. If you haven’t lived in your home very long and/or did not put a large down payment into your home, you likely will not have enough equity in the house to use that to fund the project. Are there smaller improvements that will add value to the home while not draining your bank account?

Here are four simple enhancements that you could do to your home:

  1. Update lighting in the home. Modern lighting can help a room look larger and warmer. You can also save on energy costs by replacing older fixtures with newer energy efficient ones. If you prefer not to buy new fixtures, you could spray paint your current ones to give them a new look and save even more!
  2. Remake your entrance. You could replace the front door or replace the locks on your current door or paint the doors to give them a new look. Another option would be to redo some of the landscaping around the front porch or update the exterior light or house numbers. The options are nearly endless!
  3. Modernize your bathroom(s). I know the above estimate was $20,000 for an average bathroom remodel, but a good option is to update a few parts in the bathroom at a time. Replacing the toilet and sink can likely be purchased and installed for under $1,000. Other ideas are a fresh coat of paint or putting up some tile for a back splash.
  4. Decorate the walls. A room can feel much larger if you add some wall decor. Open shelving is one great way to add depth to a room.

There are many other ways to update your house without breaking the bank to do so. It’s as easy as updating the furniture, replacing or putting down new rugs, painting a room, changing up pillows or curtains or rearranging the furniture! Sometimes a room just needs some cleaning or organizing. You just have to see what your budget is and where you’d like to start, but remember that updating your home does not have to cost you a fortune!

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John Flemmer

Mortgage Loan Officer | NMLS #1449163