Finding a balance between what you want and what you can afford can be exhausting, when you’re planning to renovate your home. When funds are limited, it is important to invest in the parts of your home that will offer the largest return on investment and make the biggest changes in the most-used spaces.
Dream roof! These are Tesla's solar roof tiles. Via Tech Crunch
When planning your renovation, start in the areas of your home that need it most – even if they aren’t the most appealing. Although it may be mundane, this includes:
• electrical/structural issues
• and adding curb appeal to your property – especially if you’re planning to sell.
These are important not only for the safety of your family and functionality of your home, but they can save you money long term.
Slight improvement.... Via Chris Loves Julia
If you’re planning to sell, most buyers want to know that the bones and systems of the home are problem-free. If they aren’t, it makes it much more challenging to sell your home, which can result in lowball offers, or no offers at all. Projects of this nature will generally receive a 90% return on your investment, allow you to sell your home more quickly and generate more high-quality offers.
Once the necessities are covered, start your renovations in the areas of the home your family and guests spend the most time in: that means kitchen renos should take priority. From an investment perspective, kitchen and bathroom renos yield the highest return on investment, making them a great place to start when renovating on a budget.
Laminate flooring in the kitchen. Via Home Depot
Renovating your kitchen is the best way to add value and make a noticeable difference to your home, but a kitchen reno can also be the most expensive. Hardwood floors are the most desireable flooring type for potential buyers, but they come with a higher price tag. Meanwhile, laminate flooring is a great hardwood alternative that gives the look and feel of hardwoods for about half the cost. To further lower your renovation cost, do the installation yourself. Generally, installation is fairly easy – as long as you’re comfortable using a power saw.
A coat of paint goes a long way. Via Zillow
New cabinets will completely transform the look of your kitchen, but in many cases aren’t budget friendly! Instead of ripping out the old ones, which still have good bones, paint the doors and install new hardware. This will give the look and feel of new cabinets for a fraction of the price!
Who wouldn't want these marble countertops? Via Remodelista
No kitchen renovation is complete without the polish of new countertops. When marble, granite and quartz are out of the budget, turn to alternatives like tile or laminate. Tile will give your kitchen a unique feel, with the sophistication of stone without the price point. There are also plenty of laminate designs made to look just like stone, for half the price tag.
Don't show this to your wife! Via Dimples & Tangles
After the kitchen, bathroom renovations offer the second-highest return on investment. To avoid racking up a huge bill, avoid making changes to the placement of plumbing. Moving pipes will require a plumber, which is money that could be spent in other areas. Avoid replacing main fixtures like the bathtub and toilet, and instead invest in a new sink and vanity that will give a fresh look to the bathroom.
A great way to update an out-of-date bathroom is with new tiles. Stick with neutral tones to keep them from going out of style too quickly.
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