Tips for Budget-friendly Home Renovations

21. May 2019 Loans 0
Tips for Budget-friendly Home Renovations

Renovating your home does involve some up-front expenses. However, you can easily recoup your costs through the resulting added value if you decide to sell. Here are a few starting points to inspire your next home renovation project.

Upgrade appliances

Household appliances like refrigerators and dishwashers are at the source of up to 14% of residential energy use. Therefore, swapping out some of your old appliances for newer models is always a worthwhile choice. Your investment will certainly pay off through better efficiency, leading to lower utility bills. In the long run, this is good news for your budget. For example, upgrading your dishwasher to an Energy Star-certified model can save up to 500 gallons of water annually. As for your power bill, this switch could translate to savings of up to $30 per year.

 

Change your colour schemes

Sometimes a coat (or two) of paint can work wonders for refreshing a space. Want to brighten up your kitchen but don’t have the budget for a whole new set of cabinets? You can easily transform your kitchen’s ambiance by painting your cabinetry in a brighter, lighter or more modern colour. With some simple supplies and tools such as paint remover, sand paper and a paintbrush, you’ll have everything you need.

Refreshing your walls can be as simple as applying a coat of white to hide an ugly shade. For a more stylish touch, update your wall colour with a classier hue. Maximize your precious renovation dollars by asking your local hardware store for any leftover paint. This way, you can mix and match a few different colours to create a personalized palette. Not sure if you want different-coloured walls in the same room? Shop around to find a few different hues or shades of the same colour. This way, you can maintain the theme of the room without digging too deeply into your wallet. For example, try two different shades of red to create a warm ambiance for a dining room or bedroom.

 

Budget-friendly bathroom upgrades

Your bathroom might not be your initial choice of room to renovate. However, you can follow a few small tips to give the space a whole new look on a modest budget. A popular choice for bathroom renovations is to redo the floor and walls in tile. That said, tile is more expensive than paint. Try to save more expensive tile for the most noticeable areas or as accents and cover the rest of the space in cheaper tile. For the walls, you can save by just tiling a narrow horizontal strip. Paint the rest of the surface in a complementary colour to maintain a unified colour palette.

Another more detail-oriented approach involves updating smaller items. For example, switching up your drawer pulls, towel racks and light fixtures can modernize the space considerably. Give your sink a facelift with a new faucet and a DIY sink stand made of a vintage dresser. Just cut out part of the top to hold the sink basin. Then, remove the insides of the drawers as needed and make holes in the back for the pipes.

 

Focus on your flooring

Sure, the floor might not be the first thing you notice when walking into a room. But changing your flooring will not only improve a room’s aesthetics, it can also increase its practicality or energy efficiency. You can keep it as simple as painting a checkered pattern in two contrasting colours. Or, go eco-friendly with a floating cork floor. With its natural look and durable surface, cork will make the room feel cozier and provide a layer of insulation.


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