A home renovation can be an exciting yet all-consuming endeavor. Essentially, the point of renovating a home is to increase its resale value. Do-it-yourself (DIY) cosmetic fixes are the easiest ways to boost a home's resale value without boosting your credit card balance. Here's our list of easy home improvement projects ideas that'll leave your savings account in tip-top shape!
Curb Appeal for a Fraction of the Cost
The first thing someone sees when they approach your home is the yard and front porch. Sprucing up your front door - with a fresh coat of paint or trim accents - can increase the 'wow factor' tenfold. Exterior paint only costs about $25 per gallon, so you'll have plenty left over to do some touch ups later on. Be careful to choose a color that's not too bold, so that it appeals to potential buyers. You can't go wrong with modest colors like beige, tan and cream. Decorating your porch with foliage is another way to bring color and life to your home. A few potted plants can go a long way in terms of curb appeal. If you're the type of person who can't even keep a goldfish alive, opt for silk flowers or plants. They'll look great all year long without any maintenance.
Improve the Lighting
What's the point in remodeling a home if you can't see it?! Replacing light fixtures (both indoors and outdoors) can add style and character to your home's façade. In general, light fixtures can range anywhere from $20 up to a few hundred. The key is to buy ones that will enhance the design while efficiently illuminating the space.
Replace Garage Door
Replacing your garage door is yet another way to boost the resale value. Based on the average cost of a new garage door ($1,400) and the increase in home value from that replacement ($1,100), your recoup rate is right around 75%. The average return on home improvement projects are 60.6% so replacing the garage door is an economically sound decision.
Switch Up Doorknobs and Hinges
Changing the doorknobs and hinges on a door is a fast fix that can be completed in under 5 minutes. Outdated knobs can make a room look dreary and worn so pick up some modern ones at your local hardware supply store or online. You can also score some huge savings by buying them from a wholesaler so do your research before you purchase.
Modernize Home Furnishings
If you've visited a furniture store in the last decade, you know how costly new furniture can be. A sofa alone can easily run $5,000. Not to mention the hassle of dealing with the sales people who will try to up sell you at every corner. The first place I look when I need to find a piece of furniture is online. Local classifieds like Craigslist are a frugal shopper's best friend. My advice to anyone perusing the classifieds is to get a picture of the item sent to you beforehand. Online people often exaggerate the condition of their products. I can't tell you how many times I've driven to meet a seller only to find out that the item in "nearly perfect condition" was a piece of garbage. Not only did I waste gas and time but I left feeling deceived. Learn from my mistakes. Before hopping in your car with your cash in hand, ask for an up-to-date picture.
Adding ambiance to a space is all about making it feel warm and inviting. Area rugs serve two great purposes. If there's an area of your floor that is damaged, an area rug can easily conceal it and draw attention to the nicer aspects. It can also make a furniture set come together in a cohesive grouping. Let the rug define the central space and make it welcoming for family and guests.
Home renovation costs can be intimidating at first glance. There are plenty of feasible alternatives to get a home improvement project completed on a tight budget and with money remaining in the bank.