And while home renovations can be costly, there are many easy DIY projects for your home that will raise your home’s value. With a bit of elbow grease and a dash of patience, you can make your home even more appealing to prospective buyers. Here are seven of the best ways to improve your home for under $15,000.
1. Reface or repaint kitchen cabinets
The kitchen is often considered the heart of a home, so it comes as no surprise that kitchen updates often provide the best return on investment. Overhauling an entire kitchen can cost upwards of $20,000, but there are many smaller, more pocket-friendly DIY projects that will breathe new life into the space. For instance, you can repaint or reface your cabinets and replace the hardware for under $1000.
Repainting cabinets involves removing, cleaning, sanding, and priming the doors before you even apply the first coat of the new colour, but following these steps ensures the best results. White is a popular colour choice and likely to appeal to most potential home buyers, but you can search for inspiration in magazines and on Pinterest.
When replacing the hardware, look for a finish and style that feel contemporary. A new stainless-steel faucet and sleek drawer pulls will look miles better than brushed bronze hardware from 1982. Don’t forget to replace yellowed light plates as well.
If your cabinet doors need more help than a coat of paint, you can instead reface the cabinets. Unlike a costly kitchen overhaul in which cabinets are rebuilt from scratch, refacing utilizes the current cabinet set up. Existing cabinets boxes and sides are covered with veneer or rigid thermofoil (RFT) and new doors are added. You can expect to spend anywhere from $4000 to $9000 on cabinet refacing.
2. Install new backsplash
Another way to refresh your kitchen to say goodbye to dated tiles and grease-stained walls. For about $1200, you can DIY a brand new tile backsplash. If you’re not experienced with tiling, select a simple pattern and classic tiles. Subway tile is a great way to go as it has a wide appeal and is one of the simpler backsplash designs to install.
3. Apply fresh coats of paint
A fresh coat of paint can do wonders for a room. Over time, paint becomes dull and starts to show signs of wear and tear, making a room feel tired. To repaint your home yourself, expect to spend about $200 - $300 per room. Repainting your home with a cohesive palette will create flow throughout.
Neutrals are generally the safest bet, but the occasional pop of colour on an accent wall can be effective. Again, look at what colours are on trend; sand and beige, while once staple neutrals, have been replaced by cooler tones and soft pastels.
Removable wallpaper is another option. If you’ve dealt with old-school seemingly super-glued and spackled wallpaper, you might be cringing, but wallpaper has come a long way since the 70s. Removable wallpaper, when combined with repainted walls, can create an accent wall that gives a room a wow factor.
4. Update light fixturesAs with brass door handles and bathroom faucets with plastic knobs, old light fixtures can really age a home. In addition, older light fixtures often provide poor light and use inefficient incandescent lightbulbs. For a dining room or living room, consider a statement chandelier. The cost of lighting fixtures varies, with chandeliers costing anywhere from $150 to upwards of $2000.
Recessed lighting throughout your home can also add value. Providing you have the knowledge and skill for electrical work, you can install retrofit LED recessed lighting kits for about $10 to $40 a piece. Be sure to check your city’s electric by-laws and contact a professional if you are looking to do any major rewiring.
5. Increase curb appeal
When it comes to homes, first impressions mean a lot. Thankfully, there are many DIY exterior renovations you can undertake.
As with the interior, painting the exterior of your home can go a long way. The cost of repainting your depends on the size of your home and the construction material. Expect to spend about $50 per gallon of exterior paint, or $400 to $900 per 250 square foot of exterior surface. This puts the average cost to repaint the exterior of your home between $3000 to $7500. In addition, you should budget for supplies like a ladder, brushes, and drop cloths.
Pro tip: don’t forget the front door. The right door increases a home’s value by far more than the cost to paint it. In 2018, Zillow conducted a survey and found that homes with charcoal gray, smoky black or rich jet black doors sold for $6,271 more than expected.
6. Put time into landscaping
Landscaping is another DIY you can do to increase the value of your property. While it can seem daunting, especially if your garden is overgrown or non-existent, small changes make a big difference.
Power washing concrete, cobblestones, and fences provides an instant facelift. While electric power washers are more affordable, any large projects should be tackled with a gas power washer, which start at about $375.
For about $1000 to $5000, you can buy plants, cut back trees, and plant new grass seed. For $5000 to $15,000, you can buy more plants and replace the entire lawn.
If you’re not in a rush, choose to plant less mature shrubs and flowers. While initially they won’t look as impressive as larger, more lavish plants, they will cost considerably less. Also consider perennials, plants that bloom every year, instead of annuals, which will have to be replanted yearly. Take the time to clean up any overgrown areas and create a cohesive plan for your yard; potential buyers will be looking for a functional, usable space.
If you’re hoping to build your on deck, then adding a 12’ x 12’ deck will run you about $5000, while a ground level deck can be done for about $1500.
7. Install new flooring
New flooring is one of the key things potential buyers look at. Stained carpet, scratched hardwood, and peeling laminate all decrease your home’s value. For a 2000 square foot home, the cost to install hardwood yourself will range from $8000 to $14,000, depending on the quality of wood you select. For a cheaper, more durable option than most hardwood, consider laminate. It offers the look of hardwood, but the cost will range from about $3000 to $8000 for a 2000 square foot home.
Installing new flooring requires some specialized tools and to save money you can rent, rather than buy, these tools from your local hardware store.
Start DIY-ing with a home improvement loan
These are just some of the DIY renovations you can undertake to increase the value of your home. If you’re ready to start renovations, then you can consider a home improvement loan. Fresh Start Finance can provide you with a loan of up to $15,000 to help you finish your dream home.
Why work with Fresh Start Finance?
- Installment loans up to $15,000: From covering unexpected expenses to funding renovations for your dream house, an installment loan can be used any way you like. The best part? You can get approved from the comfort of your home.
- Fast cash: Thanks to advanced technology, Fresh Start Finance can deposit funds on the same day or within 24 hours via e-transfer.
- Tried & trusted: Fresh Start Finance is trusted by Canadians across the country. See what they have to say on Trustpilot and Feefo.
- Flexible payment plans: Select a longer term to make lower monthly payments or a shorter one if you want to pay your loan back as quickly as possible. Open-ended loans mean you can pay back the loan early and minimize interest charges.
- No hidden fees: Never pay a dime in application fees, maintenance charges, and other hidden costs.
- All credit situations considered: You can get approved even if you have bad credit, are new to credit, or have filed for bankruptcy.