Your renovation project may very well be guided by how much you can spend; however, even with a small budget your home will offer many areas where you can improve the feel, appearance, and value of the residence.
Homeowners with a large budget may choose the kitchen or bathrooms first, since those rooms offer a boost in usability for the average family who spends a lot of time gathered in the kitchen each day. A small budget might warrant a look at cosmetic improvements or replacing features like kitchen cabinet doors, hardware, and fixtures.
Getting a Return on Investment (ROI)
You might be motivated to conduct a renovation based upon the need to improve the home’s value in advance of selling or taking out a home equity line of credit. According to “U.S. News,” some renovations are classic investment projects while other projects are best suited for homeowners who don’t plan to move for several years.
Interestingly, “U.S. News” suggests that attic bedrooms are one of the best places to recoup investment dollars. However, this area of the home also represents a potentially costly project.
…you’ll recoup 73 percent of your investment when turning the attic into a bedroom. However, this also ranks as one of the most expensive projects, averaging $50,148 nationally. But if you have the money, an attic bedroom is a desirable feature among homebuyers.
Secondarily, homeowners who choose to remodel the kitchen or bathroom will recoup a healthy amount of the initial investment. These areas also tend to require a fair level of investment, but one of the best things about remodeling the kitchen or bathroom is that these areas will offer a lot of enjoyment to the present homeowners.
Therefore, if you’re not looking to move immediately, the investment in a new kitchen will offer one of the best investments for personal value of the home. Families today gather and congregate in the kitchen much more than they did a half-century ago, so a nice kitchen is a pleasant feature to have in a home.
Small Projects and Saving Money
If your budget doesn’t allow for a hefty investment and you’re not eligible to siphon equity out of the home for the project, some of the best places to consider renovating will feature low overall cost alongside a significant boost to the convenience and efficiency you enjoy in your home.
According to “This Old House,” all it takes is some “strategic thinking” to find a place to renovate in your home with a small budget. One of the best pieces of advice from the “House” experts features an improvement of overall efficiency, rather than an expansion of the home’s footprint.
If you can reorganize and equip your kitchen for maximum utility, you may not need to blow out the walls to gain square footage.
If you consider changing the present design of your kitchen’s interior, you might be on your way to a completely different space that looks like it cost a lot more than it did. A spacious kitchen will always “look” more expensive, even if the appliances and fixtures within the room are humble in price.
Changing the Surface
In addition, there are several surface-level projects you might consider that will hold you over until you have a bigger budget. A simple coat of paint can transform a room from a bland space into a warm and friendly meeting area.
Some new fixtures on the cabinets in the bathroom, along with new faucets and some hardware for the towels will give your bathroom an instant facelift that doesn’t require a full gutting of the space.
The great thing about simple, surface improvements is that they often don’t take any time to install, and they’re items that can remain in place when you go for the bigger project. Those new fixtures today will look terrific in the future when you decide to remodel the bathroom completely.
Choose the Best Place for Renovation
Would you like to know which renovation will serve your budget and home best? Contact Artisan Remodeling, today for information on how your bathroom remodeling project can create a welcoming and beautiful new space.