There are plenty of reasons to upgrade your home. You may want to replace ugly or outdated cosmetic features, design a space that better suits your needs, or simply add to the value of your home. Whatever the reasoning, you couldn’t pick a better time than right now to start. While you may be concerned about spending money on something that could be considered frivolous in our current economy, you are in fact taking advantage of some of the best deals on products and services in decades. With the housing boom slowing down, retailers and labourers alike are offering stellar materials at rock bottom prices, so taking advantage of a buyer’s market is definitely in your best interest if you are considering some upgrades to your home.
But which ones will offer the best payoff for the least expenditure? Well, you certainly can’t go wrong by slapping a fresh coat of paint on the walls. It’s a cheap home upgrade that will make your home look fresh without spending a lot of money. However, this won’t add much value to your home. You can also consider new flooring. Between carpeting and inexpensive options like wood-mimicking laminates you can really give your tired interior a face lift. Again, it will not add much value in the long run (since most buyers will ask for discounts to replace paint and flooring), but if it’s for your enjoyment, you should definitely consider it.
Upgrades that will boost your ultimate sale price are best done in kitchens and bathrooms, but let’s face it, they can be a little pricey. However, they will guarantee the best return on investment. And fortunately, there are a lot of less expensive alternatives to recreating the space you saw in the model home. To begin, think about using the re-usable. Although tiling (for countertops and backsplashes) is already pretty cost-effective, you can get it for even less if you buy recycled. Often, you can find better products at lower prices by going this route. You can also look into reclaimed cabinetry if you find you must replace your existing cupboards. However, if your cabinets are structurally sound and meet your needs, you are better off just painting over or adding new veneers (and hardware) to cut costs. And energy-star appliances, while carrying a hefty price tag, can save you money through government incentive programs, in addition to reducing your electricity bill.
In terms of bathrooms, a little can go a long way. There are a few inexpensive options for jet tubs and such (although upkeep can be a problem), but you may want to leave your existing tub if it’s nice. You’d do better to spend less and replace a few key items like hardware, lighting fixtures, and a stained or chipped sink. You can also consider a low-flow toilet since they often come with a rebate from the utility company and they’ll reduce your water bill.
While you may be keen to gut the house and get everything new, you’ll find that even cheap materials can quickly add up to a monster price tag, blowing your entire budget before you even start installation. So create a plan of action before you begin and make a concentrated effort to stick to it and avoid getting sidetracked by unnecessary extras. In the long run, a solid plan for remodelling can mean the difference between disastrous debt and a big payoff.
Bio: Kathleen Macky owns a real estate website where you can browse Tampa homes for sale.