Spending on home remodeling continues to rise, with increasing numbers of homeowners choosing to upgrade their homes instead of moving house. Budgeting for everyday repairs is essential, and it pays to keep up to date with regular maintenance. However, remodeling, even on a small scale and with a tight budget, not only improves the look of your home, but can also add value in the long run. Here are some ways to do it on a budget:
Whether you are undertaking essential maintenance or upgrading your living spaces, drawing up a realistic budget that includes money for contingencies is vital. How you choose to pay for the work can also have an impact on your overall budget and return on investment, if you are looking to add value. This may not be a problem for minor improvements, as you will probably be able to save up to pay for these upfront. For more significant changes, refinancing your mortgage can save you money if done right, freeing up equity to undertake home improvements. For any project, doing as much of the work yourself as possible can save on expensive labor costs, leaving a larger budget for materials and furnishings.
Remodeling a kitchen is often top of the list of refurbishments to make in a home, but it can also be one of the most expensive. Surprisingly, a minor kitchen remodel can add over 20% more value to your home than a full-scale renovation project, so cheap but effective changes could still be within your budget. These could include painting or replacing just the doors of the kitchen cabinets, leaving the old carcass in place. Even something as simple as replacing the old handles and other fittings in the kitchen can give a more polished and unified look to the room. If new units are necessary, shopping around for ex showroom displays or second hand cabinets can save thousands.
For an inexpensive but highly effective makeover in the living room, a simple change of color scheme can have a dramatic impact. With a small investment in tools and materials, and by taking on the work yourself, you can add value to the room even on a tight budget. Painting just one feature wall in metallic paint will add depth and glamor, and adding throws and cushions in the same tones adds luxury without breaking the bank.
Remodeling your home can make a significant difference to its appearance, and with prudent financing, larger profitable projects become more affordable. However, even small changes can add financial value, and improve the look of your home.