Home renovation doesn’t have to burn a hole in your wallet. Whether you wish to breathe new life into the space or revamp your house before selling, you can do it without a substantial investment.
Here’s how to renovate your home on a shoestring budget.
- Apply for a reverse mortgage
A reverse mortgage is an excellent way to get the necessary funds for home renovation. You can borrow money against your home equity without worrying about monthly payments.
You must be at least 62 to qualify, so consider other options to finance your project if you’re younger.
If you’re eligible for a reverse mortgage, use information based on this calculator to discover how much you might be able to borrow against your home equity as tax-free cash income. It doesn’t require personal details and provides instant results.
- Purchase materials from local suppliers
Buying materials from local suppliers will help you save on shipping. It’s also much better for the environment, so you’ll reduce your carbon footprint. Many may even offer recycled or salvaged supplies, but ensure they’re high-quality before purchasing.
Your local suppliers may offer regular deals, so don’t rush your purchases. Take the time to explore your options and snatch discounts. Besides building materials, you can save on appliances and other items by waiting for package deals and seasonal sales or finding recycled products.
- Create an open floor layout
An open floor plan can open up your home, making it seem larger. It’s ideal for a smaller house because it can help you get more space with less square footage, breathing new life into it without a significant investment.
For instance, you can remove a wall to join your living room and kitchen, separating them with a sofa or a dining room area.
You can also break down other walls to connect multiple areas and separate the zones with furniture, carpets, floor tiles, colors, lighting, or decorative dividers.
- Spruce up old furniture
Changing your furniture can transform your home’s entire look and feel. However, replacing all the pieces can be expensive, so you can consider refurbishing.
You can change the upholstery on old chairs and couches, repaint some pieces, and add new finishes on wooden items. Once you refresh the furniture, rearrange it to create the feeling of a brand-new home.
Even if you don’t spruce up your old furniture, their new arrangement will work wonders for your home’s overall appearance.
- Upgrade kitchen cabinets and countertops
You don’t have to change everything from top to bottom to give your kitchen a fresh look. We all know how expensive those renovations can be.
Upgrading your kitchen cabinets and countertops will create an impression of a brand-new home. That doesn’t mean you should replace them with their latest editions – you can repaint them or use peel-and-stick contact paper to give them a new look.
As for your countertops, you can use quartz instead of granite – it’s affordable, durable, stylish, and requires low maintenance.
You can also add a new backsplash in the kitchen, which doesn’t need to include tiles. A peel-and-stick option can work perfectly.
- Refinish your bathroom fixtures
Getting new bathroom fixtures can make you go over budget quickly. Refinishing them will translate into significant savings.
Whether you take the DIY road or hire a professional, you can refinish your bathtub, shower, vanity unit, and other fixtures while minimizing costs.
If you wish to design your tiny bathroom like a pro, opt for a round vanity, floating shelves, an oversized mirror, and light colors. They’ll open up the space, make it look modern, and create a seamless traffic flow.
- Apply a fresh coat of paint
You know that small changes can make a significant impact. Even a fresh coat of paint can improve your home’s visual appeal and create the illusion of more room. It can also increase your house’s value, which is perfect if you plan to sell.
Refresh the walls in every room, preferably with neutral colors that will make the space brighter and cleaner. They’ll give your home a polished look and positively impact your mood.
Conclusion
Renovating your home on a tight budget doesn’t necessarily mean sacrificing quality. You can make it stylish and functional without investing a small fortune.
The steps above are enough to transform your little piece of heaven and make it look and feel like an entirely different property. Whether you wish to increase its value to sell higher or spruce it up for yourself, they’ll help you realize your vision with minimal costs.