How to Make the Most of Your Home Renovation Budget
Whether you’re deciding to stay a few more years in your home or making it more appealing to sell, there are a few ways to make a big impact in your space no matter what your budget is. Learn how to make the most of your home renovation budget in this House & Home video:
You don’t have to do a complete overhaul of your house to make a big impact. You can just tackle one problem at a time, and you’ll still find it makes a big difference. It’s important for you to decide where you want to save and where you want to splurge.
Small Budget
1. You can make the biggest change with paint. It’s affordable, easy to change if you make a mistake, and something you can control yourself; you don’t have to hire a painter. Adding color to kitchen cabinets with paint is a super way to fix it up and add drama. And you can easily add color behind a bookcase or anywhere else you want to add an unexpected pop of color. Mid-grade paint costs $30+/gallon; a gallon covers about 350 square feet. Don’t forget to budget for rollers, brushes and dropcloths. Invest in primer and melamine-finish paint for cabinets.
2. The faucet is typically the focal point in the kitchen. It can go out of style, so just switch it in and out as long as it’fits the preexisting holes. You’ll get a brand new look, and it can also change the way you function in the kitchen as well. Budget $350+ for a pull-down faucet.
3. Do very simple trim work. It is cheap, easy to DIY and will give a big impact. Trim adds shadows, texture and depth to your space. You can save the cost of crown molding by running panel molding high up the wall. Cost per square foot: $2 for chair rail profile, $1 for panel profile $1, $5 for crown molding $5 and $3.50 for baseboard profile.
4. Don’t underestimate the power of an amazing shower curtain. There are many beautiful options available on the market, or if you’re crafty, you can make your own. Alternatively, skip the sewing and use premade drapes.
Medium Budget
1. Get good quality door hardware. The sheen and color are better, and it also feels good (expensive) in your hand. Interior door hardware costs $50-$80 while cabinet hardware runs about $8+ each.
2. Make a good impression and update your front hall by refreshing the staircase. Repaint the railings and install a beautiful runner to add pattern and texture and make it feel cozier, warmer and homier (approximate cost $18 per square foot for supply and install).
3. Update and color and tone of your floors by refinishing them (approximate cost $5+ per square foot). Also consider adding tile to your front vestibule or mudroom (cost per square foot is $8 for porcelain and $12 for marble).
Large Budget
1. Built-ins are always worth it and definitely give you bang for the buck. Painted built-ins are less expensive than wood veneer. Mix closed storage with open shelving.
2. You can never have enough storage!
3. Replacing your windows is a great idea. Avoid structural costs by updating windows in existing openings. For a new-build, save by using standard window sizes. French doors, more expansive windows or windows that go to the floor are really attractive and elevate your space.
4. Alter the layout – take down some walls, create different sight lines and traffic flow. Consider furniture sizes and storage needs. Invest in structural beams to create an open floor plan.
