It’s not always easy to figure out which home renovations will pay off for you and which will end up just being a sunk cost. In many cases, small and cheap decoration projects can do more to boost the value of your home than a more expensive and time-consuming undertaking.
According to Remodeling magazine’s annual cost-versus-value report, some of the most cost-efficient measures include a steel entry door replacement, which makes a strong first impression on potential buyers, and roofing replacement. Having a sturdier roof can make a home that much more appealing — and valuable — to buyers. Likewise, buyers tend to be willing to pay more for homes with wood decks and new windows.
Some of the worst investments include adding a back-up power generator and adding a bathroom, since doing so can be expensive. By the time you add plumbing, cabinets and electricity, you’ve spent far more than you can expect to get back, the magazine estimates.
One theme to emerge from the findings is that it pays to make a strong first impression, and homeowners can often boost their curb appeal with relatively little financial investment. Even sprucing up a front yard or planting some flowers can go a long way toward making a house look attractive to buyers — one reason why Realtors spend so much time on staging.
No matter what type of project you decide to take on, doing the work yourself can save a lot of money, although it will cost you your time. You don’t have to spend thousands of dollars to create a designer-inspired look or give your home an entirely new ambiance. You just have to be willing to invest some sweat. Here are a few ideas to get you started on your next affordable renovation project:
1. Shop vintage stores.
If you’re looking to add a few key pieces of decor to a room on a smaller budget, head to vintage or antique stores in your area to pick up gently-used accent furniture and unique pieces of decor. Items like upholstered chairs, framed paintings or even old-fashioned lamps can add character and personality to any room.
2. Update furniture as a DIY project.
Items like slip covers on sofas and new cushions and upholstery for seats can freshen up your furnishings without a heavy cash investment. Instead of replacing these key pieces of furniture with new items, set aside a few days to update everything and give it a new look. Sofa covers and new pillows can completely change the look of your living room without too much effort or monetary investment.
3. Paint accent walls.
When you’re working with a tight budget, repainting every wall inside your home (or putting up wallpaper in every room) can be expensive. Pick just one wall in each room to decorate instead. A pop of color on a single accent wall can freshen up the living area and even make it look bigger. This technique is also fun to employ in bedrooms.
4. Create more space with mirrors.
If you can’t afford to shell out much cash for a room expansion, add some mirrors to different wall spaces to reflect the light. Strategically placed mirrors can make a small area seem larger, and it won’t cost you much.
5. Be creative with shelving.
Hanging shelves and wall shelves can serve double-duty as a piece of decor and also have functional purposes. Cascading “floating” shelves down, say, the wall of a stairwell is easy on the eyes and can also be used to display photographs and collectibles. Smaller shelving units serve as valuable space savers in a small office or bedroom.
6. Enhance the lighting.
An expensive lighting system can completely change the look of a room, but you don’t have to spend hundreds or thousands to create some special effects. A few strategically placed lamps can add dimension to a room and enhance the living space. Inexpensive light dimmers can also help change up the ambiance and mood in a certain area.
The bottom line? Roll up your sleeves and get to work — you have the power to significantly boost the value of your home if you’re willing to put in the time and effort.
Kimberly Palmer contributed to this article.
More from U.S. News
8 Home Remodeling Projects That Are Worth the Money
10 Ways to Save While Gardening
11 Money Tips for Older Adults
How to Boost Your Home’s Value on a Budget originally appeared on usnews.com
