A beautiful home is one thing most people desire. We all want a peaceful place to relax after a day’s chaos, and a trendy house to proudly show off to peers. You can achieve all these with a home improvement project.
Home improvement is a major financial decision. It is a 400 billion market according to research by Harvard University.
You need to be careful about what features you spend on. Expensive things are not always the best. Gauge the effect the item has on the quality of your home. Is it worth the cost?
A simple change, on the other hand, can make a huge difference.
Four Reasons to Upgrade Your Home
Here are a few reasons to upgrade your home,
- It increases its value in the market. If you decide to sell or rent, a professionally done upgrade will increase the value of your home, bringing in greater profits.
- It is a better option than buying a new house. When you feel the need for a change of surroundings, a little improvement of your home can do the trick. It will be refreshing but cost less than a house purchase.
- A home should be a place you enjoy going back to at the end of a stressful day, but if it’s old and outdated, this might not be the case. An upgrade can make it more homely.
- In case you need more space, or there is an additional member of the family, some improvements can create the space you need. It can save you from incurring the cost and undergoing the stress of getting a new house.
Most people shy away from making a home upgrade due to the costs involved. But this does not have to be the case.
By focusing on the most critical areas, you can achieve a quality home improvement without blowing your budget.
Possible Sources of Funds
Not everyone can afford to finance the upgrade on their home from their pocket. Here are some ways in which you can acquire the money needed.
Home Equity Line of Credit –The HELOC allows you to take a loan against the available equity in your home. It is a revolving line of credit that will enable you to borrow when you need to up to a specified period.
Home Equity Loan – Unlike the HELOC, the home equity loan offers a single lump-sum payment on the available equity on your home, which you then pay back on agreed-upon terms.
Cash-Out Refinancing – This is when you get a new mortgage, larger than your current mortgage. The amount pays off the previous loan balance and the difference between the two loans is given to you in cash.
Personal Loan–If you don’t want to put up your home up as collateral, a personal loan can be an excellent option from nation21loans.com—as long as your credit score allows it.
Here are the best areas to upgrade your home for maximum effect.
1) Painting the exterior
A fresh coat of paint can have a substantial effect on the outlook of your home. It can transform an old house into something worth a second look. You can save on the cost of labor by doing it yourself.
With some creativity and the willingness to get your hands dirty, you can transform the outdoor space into a loveable place. Remove old tires and trash, cover dark patches with gravel, and use rope lighting. Create a retaining wall flowerbed or a raised garden bed, which are low-cost items. A patio or a deck are nice additions.
If your roof needs repair or replacement, do adequate research to get a company that will give quality work on your roof at a low cost. Ensure the new or repaired roof will serve you in the long term. Use energy-efficient shingles improve the ventilation, and clean or change the gutters.
Invest in a modern garage door. Alternatively, clean the one you have, sand the rust, and give it a proper painting. You can also reface the door using a hardwood board and batten wall. Install windows for proper sunlight and adequate ventilation. Most of all, clean the garage.
Improve your driveway by reconstructing it using concrete, which is easy to maintain. Add a grass strip at the center to save on materials. You could also use block paving instead of concrete. In case of any damages on the surface, you can simply pull out the damaged block and replace it.
6) Front Entry
Most people hardly use their front door, and yet it’s the first thing visitors will notice when coming to your house. Buy a new one or paint the one you have. Add some plants, invest in some quality light fixture, touch up the painting, invest in a unique door knocker, and a quality welcome mat.
Get your kitchen paint redone in monochrome, especially the cabinets. You could also invest in good wallpaper. Update the cabinet hardware, replace the backsplash, invest in some decorative lights, and change the sink faucet to match your cabinet hardware.
Upgrading the bathroom can be quite expensive. To save some money while still getting a fantastic look, limit the tile to the floor and add in a few decorative tiles. The walls can be part tiles, part paint with coordinated colors. Update the lighting, fixtures and sink faucets, and refinish the bathtub.
Repaint your room in a cool, relaxing theme color. Create a reading area with a bookshelf painted in a dark lacquer. Get some indoor plants and invest in a new rug and love seat. Switch the hardware out and replace it with new classy pieces. Instead of buying an expensive headboard, paint the wall behind the bed in a color that complements your bedding.
10) Floor and walls
For your floor, you can never go wrong with hardwood. It increases the value of your home. Vinyl floor covering and nice carpets are also great options.
11) Shutters and built-in shelves
Using plantation shutters on your windows adds to the home’s privacy and enhances the free circulation of air. Their classic design adds appeal to the home décor.
Built-in shelves do not just make your house appear more organized, but they also create space. Customize them to fit with your needs. Add a few accessories to the shelves and some plants.
Tips to Achieving a Low-Cost Home Upgrade
There are a few things you should keep in mind when shopping for contractors and materials needed for your home upgrade.
- Do extensive research on all available options, and make sure you get the best price and for quality products and services.
- Buy secondhand. You can find items such as art pieces, rugs, furniture, and other decorative items at second-hand markets at a fair price.
- Always bargain. Most contractors and shop owners are willing to give a discount if asked.
- Use YouTube tutorials to learn how to do some of the installations. The DIYs can save you some labor cost.
- Learn to reuse items. Glass bottles, plastic bottles, and many other items can be recycled and used to decorate.
Upgrading your home does not just give it a fresh and appealing look, but it increases its market value as well, providing a better return on your investment. If you do not have some savings to pay for the expenses, a loan from a bank can work just fine.
Try to reduce the cost by using second-hand items and doing some of the labor yourself. Bargain on materials and negotiate on the terms of the contract with the service company you decide to hire before fully committing your money.
A home upgrade is a worthy investment, and by following these tips, you can achieve a makeover without straining yourself financially.