The longer you live in your home, the more you want to make changes to it. Sadly, home renovations can be extremely expensive. The thought of spending thousands of dollars to upgrade your home is scary and frustrating all at once. The good news is that not all home renovations have to break the bank. There are many ways to renovate your home without spending an insane amount of money. Keep reading for ways to upgrade your home, even on the smallest budget.
Consider the DIY Option
If you’re a hopeful DIYer, you probably know all about the television shows, YouTube channels, and DIY websites that provide step-by-step directions for all sorts of home renovations. From installing a new bathroom sink to retiling your kitchen floor, there are many projects that you can tackle on your own to save money.
While your project timeline may be a bit longer compared to one for a team of experienced home improvement contractors, the fact that you don’t have to pay for labor costs is a huge money saver. To be successful with DIY home renovations, be sure you have the basic knowledge needed to complete the task. Many DIYers also find it helpful to watch tutorials to ensure they have the steps done before jumping into a renovation. If possible, have your spouse, a friend, or a family member help out with your project. Having multiple hands on deck will speed up the process. Besides, most renovations require more than one body to complete the task!
Apply for a Loan
There are many options for home improvement loans that you can apply for to finance your home updates. Some options that you can use to finance the cost of your home improvement project include:
- Home equity line of credit
- Home equity loan
- Personal loan
- Government-backed (HUD, FHA) loan
Before applying for any type of financing, you want to do some thorough research into each of options. First and foremost, you’ll need to know how much your project costs so that you can apply for the right amount. You’ll also want to figure out which financing option is best for you. Obviously it makes the most sense to apply for the loan with the best terms as well as the lowest interest rate. Shop around for the right loan and lender before signing the dotted line.
Go Small but Impactful
If you don’t want to apply for a loan but still want to upgrade your home, there are plenty of small updates that you can make that have a huge impact on the look of your home. A fresh coat of paint can take a room or your entire house from drab to amazing. This year cool grays, blues, and other neutral tones are trending colors. Or, give a room a pop of color with an accent wall. Red, teal, and forest green are hot hues!
Want to upgrade your kitchen? For less than $100, you can replace your cabinet hardware. New drawer pulls or knobs can make your cabinets look more modern. You can also make subtle changes such as a new sink or new countertop appliances that add a pop of color.
When it comes to home renovations, your projects don’t have to amount to thousands of dollars. If you’re on a small budget but have that renovation itch, consider ways you can upgrade your home while still making an impact.
In many cities throughout the U.S., there are plenty of recycling centers that offer lightly used home items as well as building materials. One of the most well-known locations is Habitat for Humanity. In stores you can find salvaged home materials at half the price.
For new home decor, stores such as Home Goods and Marshalls are well worth a trip. You’ll find all sorts of discounted items, including vases, pictures, and even home furniture. At the right store you’ll find name brand items without the name brand price.
Get Help From Friends & Family
Surely you know someone with some home improvement experience, or maybe you know someone who knows someone. The idea here is to use your network to your advantage. People that you know are likely willing to work at a discount to help you complete your home improvement project. Others may settle for payment in the form of a nice dinner and a couple of drinks.
The sticker shock of home renovations may sway you enough to never want to upgrade your home, ever. The good news is that there are many ways to renovate your home, even on an extremely tight budget. The above tips allow you to makeover your home without digging yourself into a financial hardship that lasts for years to come. Happy renovating!