7 Budget-Friendly Home Renovations

Are you considering renovating your home without breaking the bank? Before you start, here are seven budget-friendly home renovations. 

Whether you just bought a new home or are considering a remodel, home renovating can be an overwhelming and costly endeavor. While there are many mistakes to make while completely renovating a home, one of the biggest is spending too much money when you don't have to.

Renovating your home should be a marathon, not a sprint. Luckily, there are many affordable projects you can complete either on your own or with the help of a professional. 

Even minor repairs and renovations can make a big impact on your home's value; this way, you can hopefully sell your home for more than you bought it for. Or the remodels will make you fall more in love with your home. 

If you're looking for an inexpensive renovation that has a transformative effect on your house, then you have come to the right place. Here are seven amazing, budget-friendly home renovations you can complete throughout your home. 

Keep reading to learn all about the top seven budget-friendly home renovations.

1. Refinish or Recoat Hardwood Floors

Refinishing or recoating your hardwood floors can make a world difference in your home. While this can seem daunting and a bit time-consuming, it does not have to be expensive at all. On average, the cost, including sanding and staining, is about $3 to $8 per square foot when done professionally, according to Forbes. 

If you were to complete this task on your own, it can cost anywhere between $500 and $1,000, not including machinery or additional costs. Recoating is the process of adding a layer of protective varnish and is a bit cheaper, at about $1 to $2 per square foot. This is a better option if your floors are in good shape and just need a little upgrade.

Recoating your floors can help if you notice any minor ware and tear around the home. You can buff out minor scratches and dings on your own, then add a coat of varnish to finish it off. You may need to rent or buy equipment like an orbital sander or drum for approximately $60 per day. Tools will vary in price depending on where you buy them from, so take this into consideration before you take on the task. 

2. Painting Your Cabinets

While painting your cabinets may seem like a minor project, it can make a huge difference in your home. It can cost a lot to remodel with professionals and companies, but this is an easy and fun way to complete a home makeover. 

The most expensive part of this project is buying the paint. While there are things you can cheap out on, paint should not be one of them. You should get high-quality paint that will last longer, look better, and be more accessible than others. One of the most popular types of paint for kitchens is oil-based paints that are moisture and stain-resistant. 

Water-based paints are durable and can last long; latex is easy to work with and dries quickly. There are several formulas to choose from that are made for different types of finishings, so ensure you find the perfect one for your home. 

While searching for the perfect paint, ensure you choose a color that compliments your counters, floors, appliances, and other features throughout the room. White is one of the most popular colors because it can brighten up any room. However, more homeowners are choosing bright cabinet colors to add a pop of color. It is completely up to you; ensure you do it right if you're planning DIY cabinet painting. 

3. Redo the Backsplash

A whole kitchen remodel can cost upwards of $25,000. However, there is no need to spend that much money to make an upgrade. Redoing the backsplash can be an easy project to complete on your own. 

The backsplash can be the perfect way to bring out your creativity and personal flair in the kitchen. Materials can be inexpensive as there are peel-and-stick patterns, painted planks, mark-down tiles, and stencil designs. The price will depend heavily on the materials you choose. 

If you decide to tackle this on your own, it can cost around $600 and definitely not as much time as other home renovation projects. The great thing about this home renovation project is that you can really show your personality and style, as there are hundreds of designs and colors to choose from. 

4. Install a New Vanity

Remodeling a bathroom can be one of the most expensive rooms to complete. However, this depends on what you are planning on doing. If you are looking to spruce up the room on a budget, a new vanity can go a long way. 

Finding a pre-made vanity set has become extremely easy. From double-sink vanities to floating vanities and corner vanities, the possibilities are endless. There is a variety of styles, materials, and sizes to pick from. 

Along with the variety of styles, the cost of vanities will vary depending on the size and where you get them from. You can expect a pre-made vanity set to cost anywhere between $100 to $2,600. You may need a basic understanding of plumbing to assemble the vanity, but you can always hire a processional for installation. However, hiring a professional will cost a bit more, but it may be worth it in order to save you a headache and time. 

5. Install a Patio

If you already have a nice outdoor space, adding a patio or outdoor floor decking can create an even better space to hang out. A classic patio can cost anywhere between $5 and $35 per square foot to stall, according to Home Guide. 

The average cost to build a 10x20-foot patio is between $1,000 and $7,000. However, the bigger the patio, the more materials there are, and the higher the price. Poured concrete will be the more inexpensive material to build a patio with. On the other hand, natural stone can be the most expensive material to use. Between the two include pavers, flagstone, and stamped concrete. 

Building a patio can be done on your own, depending on your construction knowledge and experience. Hiring a professional to complete the project will be more expensive, but it is worth it if you aren't completely confident in your abilities.

According to Home Guide, here are the average costs for patio materials. 

6. Painting

Painting the interior or exterior of your home doesn't have to cost an arm and a leg. This can also be easily done on your own, especially in the interior of your home. Painting the exterior of your home can be more costly and time-consuming; however, doing it on your own will save you a good amount of money. 

The average cost of the exterior of your home on your own can range between $500 and $1,000. In this case, the main expense will be the type of paint. Again, you'll want to buy high-quality paint. 

If you don't want to repaint the entire home, consider repainting the trim. This will be much cheaper and less work, but it will still give your home a fresh look. This is great if you want to boost your curb appeal, especially if you are planning on selling your home soon. If you want to renovate a single room in the house, a fresh coat of paint can go a long way and will make the room feel like a brand-new space.

7. Modular Shelving

No matter the size of your home, everyone can use more space for storage. A great way to add some personality and color to a room is by adding open shelving. Modular shelving can be bought in all shapes and sizes, they can work in almost any willing space.

Here, you can display books, flowers, pictures, and almost anything you want. This can truly transform a space and give you extra room to store your items. Depending on where you plan on installing the shelving, it can be used to add color with open shelves or cubbies for accessible but out-of-sight storage. No matter what you decide to do with the extra space, it will be a great and inexpensive addition to your home. 

Methodology

We used information and data from several different sources, as well as our own data, to determine everything you need to know about the best budget-friendly home renovations. Most of the data was sourced from the following sources:

• Forbes
• Home Guide

FAQ: Budget-Friendly Home Renovations

Here are some commonly asked questions about budget-friendly home renovations.

What is the cheapest room in the house to remodel?

The cheapest rooms to remodel in a home are rooms without a lot of fixtures. This includes your living room or bedroom, in comparison to your bathroom or kitchen which would involve plumbing or gas connections.

How do you work out a budget for renovations?

In order to approximate a budget for renovations, consider the value of your home. You don't want to spend more than 10 to 15 percent of your home's value on a single room; this would not add value to your home. 

What is the most challenging room to renovate?

The most challenging rooms to renovate are the kitchen and bathrooms. These rooms need the most work because of the electrical and plumbing work. Additionally, the price of installing new fixtures and fittings can increase.  

Which part of the house should be renovated first?

Most real estate experts agree that the kitchen should be the first room in a remodel. Although it is one of the hardest rooms to renovate, it is considered the heart of the home. 

How can I save costs when renovating?

In order to save costs when renovating, consider doing your own demo, sticking to the budget, developing a good plan, reusing materials, painting, or picking up your own materials. Consider how much of the remodel you can do on your own and how much you'll have to pay a professional to complete. 

Budget-Friendly Home Renovations - The Bottom Line

Home renovations can be huge projects; luckily, it is up to you how big of a project you want it to be. The most crucial part is ensuring that you are happy with the final project. 

Renovating is usually cheaper than buying a new home. However, this does depend on the amount of renovations you need, the area you live in, and several other factors. Before deciding what to do, consider making a list of the renovations you need and comparing that to the homes in the area that have what you are looking for. 

While homebuyers are usually focused on finding the perfect house, the home-buying process may be a little different if you know you want to renovate. If you are looking for a new home and know you will renovate, then you can relax on finding the perfect home. 

Before you buy in Raleigh, North Carolina, feel free to contact one of our helpful real estate specialists, as they are eager to help you find the perfect home. We know that buying a home can be overwhelming, but a real estate agent can walk you through the entire process.