Home improvement is a good investment because it increases the resale value of your home. But, you must be smart about it to achieve a positive ROI.
You must know which home improvements add value and which don’t. Adding a swimming pool, for example, could cost you $100K-200K but might only add $10K on resale value. You’ll lose money, which could be distressing to a family running on a tight budget.
Your home improvement expenditure should be a fraction of your overall home value. Keep it at 5-10% on significant value additions like a kitchen remodel. But even 5% may quickly run into hundreds or thousands of dollars depending on your home’s value.
There are still ways to make your home more functional and luxurious at relatively low prices. We’d do anything to make our families comfortable and content.
So here are some tips on how to make your family home more comfortable on a budget.
1. Know Your Budget
Evaluate your home and know what your family needs to be comfortable – roofing, additional kitchen storage, extra appliances, furniture, etc. Get a price for what you need and what you are willing to spend.
Also, it helps you set a budget limit to avoid spending more than you planned to.
2. Get an Affordable Home Renovation Loan
You can take an affordable loan If your home improvement needs more money than you have, as long as it’s within a reasonable budget.
Loan options like FHA, credit cards, and mortgages have several limitations that may affect your goal or budget limits.
They may have higher interest rates or monthly payments, and they can lock you out if you have a poor credit score. They also take longer to process, making them unsuitable for emergency improvements. The home loan expert Florida recommends renovation loans that don’t limit your options. They should be processed faster, making it more convenient for your family, especially after an emergency.
Compare home improvement loan rates to determine which falls within your budget. The best way to finance home improvements is convenient and fixed-rate loans. You can control costs without surprises that increase expenditure caused by fluctuating interest rates.
3. DIY If You Can
You can avoid the loan or reduce the amount you need by undertaking some home improvements as DIY projects. Try and do anything that doesn’t require professional plumbing or carpentry yourself.
Here are some of the improvements you can take as DIY;
- Interior and exterior painting
- Sprucing up your garden
- Installation of wallpaper or peel and stick tiles for your floor.
- Setting and decorating your home office.
If you’re going to attempt anything technical like carpentry, plumbing, etc., ensure you have the right tools and training.
4. Do Small Fixes First
Minor fixes need a relatively small budget. You can do minor fixes that enhance your home before going for bigger fixes.
Here are some of the minor fixes you can do;
- Replacing a bathtub
- Fixing the kitchen cabinets and drawers
- Repairing faucets and sinks etc.
Some fixes like replacing a free-standing bathtub can start from $100.
5. Rent a Dumpster to Save on Waste Disposal
Cleaning up construction debris can be expensive and range from $100 to $600 per truckload. The cost can increase if you consider other rates charged by a waste disposal company. Additional special charges for each type of junk like plastics, bathtubs, etc., also apply.
Renting a dumpster can help you control these costs. You’ll have fixed rates for removing your renovation junk.
6. Sell Old Items that You Want to Replace
You can also save more by selling old items you plan to replace, whether furniture, dishwasher, fridge, cook stove, free-standing bathtub, etc. You can check out online thrift stores that are willing to take up your old household items.
Alternatively, you can sell them directly on platforms like the Facebook marketplace. You can top up the money to get the new items you want.
Cheap Home Remodeling Ideas Room-By-Room
Affordable Kitchen Remodeling
7. Check-Out Kitchen Appliances Deals
Use online marketplaces and stores to compare the best deals for your new kitchen appliances. Look out for discounts and offers at your local retailers and online stores.
8. Add an Under-Sink Water Purifier to Save on Bottled Water
You can get water filtration for less than $100 or as much as over $1000. Aquasana water filtration costs $60 for a six-month recyclable set.
An under-sink water purifier offers similar quality to bottled water but at a lower cost. It can be a cost-effective way to improve water quality in your home. It is also environmentally friendly.
Affordable Bathroom Remodeling
9. Add Mirror Illusion to Increase Size
If your family bathroom is too small, you can play with mirrors to enlarge it. Use a self-adhesive mirror with a compelling trim or frame. Choose a perfect peel and stick frame that adds style to your bathroom.
Self-adhesive mirrors are going for less than $30 on Amazon. Besides, it’s a DIY fix that saves you installation costs.
10. Add Backsplash to Cover the Rusty, Dirty Wall
You can also add a peel and stick backsplash tiles on your bathroom wall. Use it to cover wall-stains, making the space more welcoming.
You can achieve this improvement for less than $50 for a dozen pieces, and it’s DIY too.
Affordable Sitting Room Remodeling
11. Refurbish Furniture
There is no need to buy new furniture when you can do a relatively cheap upholstery job to make it as good as new. It is a sure way of saving more bucks if you’re on a budget but need a more comfy couch for your loved ones.
12. Update the Flooring Using Teak Flooring
Teak flooring has tons of brands and prices. They range from $40 to $150 for a dozen pieces. It has a great aesthetic value that can elevate the whole floor.
Teak floor mats are useful for covering stained tiles or worn-out floors and they look great.
They are also DIY, saving you more money.
Take Away
Making your family comfortable and safe is something to be proud of. We’ll go out of our way to ensure they are safe and comfortable through home improvements.
You can take affordable and convenient home repair loans to help with that. Fix minor repairs first and DIY for less technical tasks. It will save you money without compromising the comfort and safety of your family.