If you're looking to upgrade your home, these are the best home improvements to increase the value of your home on a budget.
Today's post is a guest post from Tony Gilbert from RealFX.
It's no secret that renovating or updating a home can be extremely expensive, and that doesn't even count the cost of the inevitable delays, hiccups, and cost overruns.
But those looking to refresh their living space without breaking the bank are in luck.
Numerous small but significant home improvements can help homeowners save money by improving the quality of life in a home.
Read on as we explore eight popular choices — including a few homeowners can do themselves!
Today's post is all about home improvements to increase value to your home.
How to Make & Stick to a Home Improvement Budget
The most critical part of executing home improvements on a budget is actually making that budget and sticking to it as close as possible.
But for many, that's easier said than done.
The first step should always be to research any desired upgrades. This gives a better sense of the timeline and the labor and parts required, which should help estimate how long and how much the job will be.
From here, owners should make a plan for what's feasible for their budget and time.
Selecting the proper people for the job is also critical to home improvements on a budget.
Use popular review sites to learn more about prospective contractors or workers and seek out references from friends or other trusted people.
These contractors should not only be able to produce a detailed quote for the job but also answer questions about potential ways it could take more time or money than expected and build in a contingency in some cases. For significant projects, it's best to get at least three quotes or proposals.
During the process, keeping an eye on the budget and actively communicating with any workers or contractors involved is vital. If things are running over budget, be sure to address it early.
For those DIYing, buying the necessary materials together and upfront can help provide a full grasp of the cost of a project, rather than a “slow drip” of expenses over days or weeks.
Inexpensive Home Improvements on a Budget
When many think of “home improvements,” their minds may go to massive kitchen overhauls, extensive bathroom upgrades, additional rooms, or other pricey renovations.
These are by no means a requirement for sprucing up a living space. From updating the flooring to better match a ranch home’s look to switching a modern home to the latest countertop, small home improvements can make dramatic differences in frequently used areas.
Plus, they're affordable and typically far faster to finish. Let's dive into the best home improvements to increase value to your home, while on a budget.
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Update Kitchen Backsplash
Updating or adding a backsplash is an excellent affordable way to add flair and style to a kitchen.
While backsplash may have started as a way to protect walls from grease and other cooking splatters (literally “backsplashes”), they've become one of the best ways to show personality and style in just a few square feet of otherwise unused kitchen space.
Not only do backsplashes look good, but they also have other benefits as well. Many materials are easy to clean, and the ability to prevent serious, long-term damage to kitchen walls is a major boon as well.
Hiring a professional to install a typical backsplash is relatively straightforward. However, even non-handy homeowners can install their own using pre-cut sheets of backsplash materials that can be quickly and easily applied to the wall. This can reduce costs to just a few hundred bucks and a few hours.
- Materials cost: $2-30 per square foot
- Labor cost: $25-35 per square foot
- Total cost: $27-65 per square foot
Home Depot and Lowes often offer classes on tiling your own backsplash!
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Replace Flooring
While it may not be the first thing many people actively notice, the quality of flooring in a room can significantly impact the perceived style of a space.
High-traffic spaces like kitchens or hallways may benefit from more resilient materials or ones easier on the feet and joints, while areas that often get dirty, like bathrooms, mudrooms, and entryways, can enjoy a new flair with easier-to-clean surfaces.
Flooring upgrades can come in various forms, but all offer tremendous bang for your buck.
Some homeowners may wish to tear up stained, worn, or outdated carpets. These folks may want to opt for inexpensive materials like plank vinyl (which is often indistinguishable from wood), cork, or even some types of tile.
Even replacement carpeting or hardwood can be found relatively cheaply in many cases. Those with hardwood floors that can't be refinished for cost or logistical reasons can paint their floors, providing a pop of color and style to rooms for only a few dollars.
- Materials cost: $10-20 per square foot for wood, $2-5 for vinyl planking, $4-9 for cork, $10-15+ for tile, $2-10 for carpet.
- Labor cost: $2-20 per square foot
- Total cost: $5-40 per square foot
New Kitchen Counters
Countertops are the unsung workhorse of the kitchen. They store appliances, serve as a workspace, and are an important part of the look and feel of the space.
However, when countertops are no longer stylish or become damaged, it's time for an upgrade.
Fortunately, many countertop materials can be both great-looking and affordable.
New laminate countertops are known for being durable, easy to clean, and easy to install. Some even closely resemble pricier materials like wood or stone, as do other synthetic materials that are slightly more expensive.
Tile countertops can also provide a budget-friendly option, allowing DIY-friendly owners to select and lay patterns themselves.
- Materials cost: $15-30 per square foot for laminate, $25-40 per square foot for solid surface, $2-20 per square foot for tile
- Labor cost: $10-30 per square foot
- Total cost: $12-70 per square foot
Energy-Efficient Upgrades
The days of the old-fashioned house are over — welcome to the era of the smart, efficient home!
Updating just a few key pieces of a home can improve quality of life and may even pay for itself over the long run. The simplest upgrades can be found by changing out lightbulbs for more energy-efficient LED bulbs, which save tremendous amounts of energy while providing the same amount of light.
Smart thermostats are another great choice. They'll often go beyond typical scheduled thermostats to learn the preferred heating and cooling schedule of owners, automatically adjusting temperature as necessary. Many can also be controlled remotely via the internet, allowing owners to adjust conditions no matter where they are.
Those with a bit more to spend can upgrade to energy-efficient windows or newer appliances. These home improvements can provide a better life, save money on utilities, and help conserve energy and protect the environment.
- Materials costs: Varies, $2-1,000+
- Labor costs: Varies, $25-500+
- Total costs: $2-1,500
DIY Home Improvements
Not all worthwhile home improvements require calling in a contractor or other outside help.
By removing outside labor, homeowners are eliminating one of the most significant costs involved in any home improvement.
Even those who don't consider themselves particularly good with household projects may be surprised by how simple some updates are relative to their effect on their lives.
These four DIY options are among the best home improvements to increase value for DIYers looking to spruce up their home.
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Swap Out Fixtures
Many homeowners don't consider the small elements of various spaces and how they can have a surprisingly large impact on the feel of it.
We're talking about things like drawer handles and pulls, door knobs, outlet and switch covers, or curtain rods.
Even light fixtures or sinks can be updated or improved with relatively little knowledge of electric work or plumbing.
Many of these costs just a few dollars to replace and easily swap out with screws or other simple fasteners.
This means owners won't need expensive equipment, just everyday household tools. Within just minutes, a kitchen or bathroom can have a new style and flair.
- Materials cost: Less than a dollar-$250+
- Time required: A few minutes to a few hours
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Install New Storage
Many people wish they could add more space, especially in cluttered areas like the kitchen and bathroom.
Most spaces have a spot to install a shelf or two, while handier folks can modify their cabinets or drawers to provide extra room.
There are even ready-made sliding racks for spices or other ingredients that can be simply placed inside cabinets. Expanding storage can help the same old spaces feel larger and airier by getting items off the counter or other visible surfaces and into a designated spot.
- Materials cost: $20-$250
- Time required: 10 minutes-3+ hours
Repaint or Wallpaper Rooms
A fresh coat of paint is a time-tested, inexpensive home improvement that can quickly change the look of a space.
With just a gallon or two of paint and a few brushes or rollers, even the most inexperienced homeowners can paint most rooms in a few hours. It's not even necessary to paint a whole room — accent walls are a trendy way to add pops of even vibrant colors to a room without letting them dominate a space.
Light colors can brighten the feel of an area that doesn't get much light, while darker tints can have the opposite effect in sunny spaces.
Wallpapering a room is another simple, budget-friendly home improvement that's come back in style in recent years.
Rolls typically include about 25-35 square feet of usable paper, meaning most rooms will require three or more rolls to complete. While it requires a bit more planning and skill than painting, wallpapering is well within the abilities of the most patient and detail-oriented owners.
- Materials cost: $20-100 for paint and materials, $200-500 for wallpaper
- Time required: 1+ hours, depending on the size of the space and number of coats
Update Window Treatments
A quick, easy, and inexpensive upgrade to any space is updating the blinds, curtains, or other window treatments.
Upgraded blinds provide a much more fashionable look, and more significant upgrades like plantation shutters or drapes can provide even more flair.
Homeowners could even make their own curtains if they’re particularly creative.
Improving window treatments can also do wonders to make the space more comfortable, whether they're designed to keep out unpleasant heat or noise, shield unwanted light, or provide privacy for residents.
This subtle upgrade is well within the skills of even the newest homeowners.
- Materials cost: $50-$500+
- Time required: 15 minutes-2+ hours
Best Home Improvements to Increase Value
As the upgrades above show, it doesn't take huge sums of money to make a significant difference in the quality and style of a space.
Whether homeowners want to hire out the job or do it themselves, all of these updates can be done on a budget and over a relatively short period.
For just a fraction of the cost of one giant, TV-style renovation, these simple, affordable home improvements will have even the most familiar space feeling newly refreshed and redesigned.
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