You can’t create value out of thin air, and if you want to improve your home’s value, you need to put in the work. That means investing in the right upgrades that will make your property more attractive to potential buyers. And even if you’re not looking to sell, think about how new kitchen cabinets or a fresh coat of paint can improve your quality of life.
If you’re thinking of renovating your home, you’re not alone. Even in the midst of a worldwide pandemic, homeowners are still spending their hard-earned money on home improvement and renovation projects. It’s estimated that the average homeowner will spend around $8,000 on projects such as new engineered wood flooring.
Of course, not everyone has $8,000 to spend on a home improvement project. It may even seem like a frivolous expense, especially with the economy cratering. But just because you’ve had to tighten your belt doesn’t mean you can’t upgrade your home. There are budget projects that can have a marked effect on your quality of life.
Here are a few tips that will help you boost your home’s value on a tight budget.
1. Think big, start small
You don’t have to sacrifice your grand vision just because money is a bit tight. Major improvement projects will have to be put on the back burner. In the meantime, you might want to focus on impactful upgrades that can boost your home’s value on the cheap.
Even something as simple as applying new eye-catching paint to the exterior can make your home stand out on the street. Another option is to choose a neutral, understated color for the walls and a contrasting color for the doors and windows. Either way, paint is cheap, and you can always change the colors if you’re not pleased with the results.
2. Don’t forget about the garden
Many homeowners are under the impression that garden projects take up a lot of time and resources, but it all depends on the scale. You don’t have to redo the landscape to make a positive impact on your home’s value. You’d be surprised at how much of a difference new flowerbeds and plants can make.
You can plant new flowers if you have existing beds around your home. Best of all, they’re cheap and easy to maintain. It’s best to use different varieties of flowers to prevent monotony. You also might want to mix species of different heights to give your garden a more natural feel. Top off the garden with a decorative piece such as a fountain or a rock formation.
Just remember to allot enough time and resources to your garden project. If you plan on doing things solo, it might be weeks or even months before your new garden is completed. This shouldn’t be an issue if this were a personal project, but if you’re looking to put your home on the market, hiring people is your best bet.
3. Focus on the little things
If you think a landscaping project is expensive, wait until you remodel the rest of your home. Hiring an interior designer can cost thousands of dollars, excluding the cost of new furniture and artwork. You don’t have to go down that route. If you’re feeling creative, you can redecorate your home yourself.
One way to achieve a new look is to change small things around your home. Instead of redoing the floor or installing new windows, you can replace the doorknobs or hang a new painting. Flower vases can also make any space feel homier. Another great option is to repaint old tables and chairs.
If you want to buy new furniture, make it a point to visit vintage stores and garage sales. You can choose from a wide selection of stylish and affordable pieces for your home.
4. Add a focal point
We all have something that we don’t like about our home. You can draw attention away from problem areas by assigning a new focal point. Let’s say you don’t like your ceramic floor tiles but can’t afford to tear them out. Placing a beautiful rug in the center of the room draws attention away from ugly tiles.
Just make sure your new focal point is appropriate to the room’s size. An oversized painting or bookcase can make a room feel smaller. On the other hand, you might not achieve the effect you desire if the piece is too small.
The bottom line
Being a homeowner is already hard enough without having to worry about home values and appearances. We’ve seen people sacrifice their security to pay for expensive renovations. But you don’t need big money to boost your home’s value. These four tips prove that the tiniest changes can make an impact as well.