Home renovation costs can quickly add up, especially if you are looking to do a total remodel or substantial addition. However, there are several ways you can upgrade your home with a budget of around $5,000. Whether you’re simply looking to refresh the look of your house or prepare it to be listed on the market, here are five updates you can make on a limited budget:
*Re-paint the Exterior – applying a new coat of paint to the exterior of your house can be transformative, making it look newer and adding to its curb appeal. The average cost to paint a home exterior is $2,802, according to HomeAdvisor; costs increase if the material of your home requires additional coats.
*Add a Patio – a patio can make an outdoor space feel more luxurious and is a fraction of the cost of wooden decks. A twelve-foot by sixteen-foot patio will cost $2,000, on average.
*Install Hardwood Floors – hardwood floors are a great investment, as they are a highly sought-after feature for many homebuyers. The national cost to install new wood floors, according to HomeAdvisor, is $4,386 (the final cost will, of course, depend on your home’s square footage and the material you choose).
*Update Kitchen Appliances & Countertops – while a complete kitchen overhaul may exceed your budget, adding new, more efficient appliances and countertops can make a big difference in the aesthetic appeal and functionality of your kitchen. Midrange kitchen suites (including a new refrigerator, range, dishwasher, and microwave) will cost less than $5,000 for top-of-the-line brands, such as GE, Samsung, LG, and Maytag. Butcher block, engineered quartz, and some types of granite and marble countertops can be purchased and installed for less than $5,000 for 50 square feet.
*Invest in a Closet Organization System – adding a custom closet installation will range in cost between $2,000-$6,000, on average, and can greatly improve the functionality and cleanliness of your home.