Last Updated on: 22nd November 2023, 04:40 pm
Did you know you can renovate your house without blowing your savings? A quick refresh on your home can make it once again livable for a few years ahead. The revived energy can infuse you and your family’s health with positivity. Most people prefer to avoid even minor works because the idea of large-scale renovation that costs thousands of dollars is heavy on their minds. They postpone smaller upgrades to save for the major revamp. If you budget everything, the risk of exceeding the allotted renovation fund will also subside.
Now, let’s see what you can achieve with USD $5k budget. Find out some contractors who offer high-end services at affordable prices. Maintain clarity about what you will spend so they can determine the best materials within your range. And as you must know, 10% of the total renovation cost should form a separate portion to care for emergency expenses.
Replace garage door
Some financially savvy homeowners calculate their investment yields first before doing anything. Do you belong to such a tribe? You will be happy to learn that changing an old or worn garage door offers higher value than it costs. Based on your requirements, you can spend anywhere from USD $750-1600 on this project and expect a 94% of return. But these projects require the involvement of pros. Major cost-influencing factors can be labor and material when you opt for this. Plus, door size and style also determine the price.
Paint the exteriors
Keeping the house’s curb appeal on point can be daunting because of the exposure to elements. Still, some homeowners know tricks to manage their situation. For instance, they understand that a coat of fresh paint can quickly transform the beauty of the surfaces. If you live in a 1,500-square-foot property, you can expect this project to cost around USD $3087 on average. Generally, an average of one sq ft of area costs around USD $1.40-4. The range vastly differs based on your expectations, the project’s complexity, and prep work. Good quality paint will also cost around USD $20-80 per gallon. One can think of compromising quality for immediate cost-saving, but the results will be unsatisfactory and short-lived. Most high-end paint colors offer excellent finish and service.
Upgrade windows
Treating all windows at once can increase your renovation project’s cost. Instead, renovate them one by one. Since windows’ health is critical in improving your house’s energy efficiency, this maintenance work ensures an average ROI rate of 68%. One window replacement can cost USD $200-1300. The cost depends on window size, type, location, and material.
Nevertheless, healthy windows can impact your utility bills by 12% anywhere in the US. Involving a pro will be safer and more reliable, but you can save labor charges by handling this project yourself.
Uplift kitchen countertop
Some homes can be compact, leading to combining laundry room and kitchen into one. With clever hacks, both areas can smoothly function in their shared existence. And if there are budget issues, explore utility sinks for your laundry room that also can manage kitchen loads. Some commercial models are available. You can check them. You can install them even if you have a dedicated laundry corner.
Nevertheless, the kitchen also requires occasional touch-ups to look and feel fresh in some corners. Changing one element can also suffice. Think of the hero product as a countertop, which arguably enjoys a larger footprint. One of the surveys revealed that 93% of participants expressed a desire to replace this feature.
Again, the selection of the material can be a significant cost contributor. If you buy a rare Italian marble slab, your bill will be higher. However, many other options, such as laminate, stainless steel, butcher block, and engineered quartz, are typically affordable. Some marble and quartz varieties can also cost less. You can expect 50 sq ft of area to cost USD $5k. It covers both buying and installation expenses. Most new installation projects are worth USD $2300 on average.
Refinish bathtub
Renovating the entire bathroom can be impossible within USD $5k. However, minor changes can be much more affordable while revamping the bathroom’s look entirely. One of the areas that can create maximum impact is the bathtub. You pay USD $335-628 to refinish the tub. It includes labor and material costs. When you add a shower, you can imagine the project to require an investment of USD $500-1k. The experts say that worn bathtubs require you to spend anywhere from USD $1800-5100 on new liners.
Install hardwood flooring
This desirable feature can instantly elevate any house’s appeal and ROI. Although it is pricey, you can still incorporate this feature for less. Generally, new installations work costs USD $4,386 on average. Factors like floor size, flooring material, and complexity can further affect the budget. Those who buy high-end hardwood material for a larger area can estimate the budget to be at least USD $10k.
Switch entrance door
One of the simple renovation ideas to execute under USD $5k is changing the front door. It can immediately transform the vibe of home exteriors. The house’s indoor energy capacity will also improve, reflected in the utility billing cycle. New doors offer higher insulation, managing temperature levels efficiently during summer and winter. You can implement this within USD $1500. On the lower end, it can be possible to modify your front door for USD $500. If you calculate ROI, expect it to be anywhere around 65%.
Install new patio
This trend has caught up with homeowners recently. They want to make every corner of the home inside-out livable. Since patios offer that extra cozy space, it has become a sought-after addition. You can get it done in various sizes and styles with different materials. On average, building a patio can cost around USD$ 3-8k. But straightforward designs are much more low cost. You can opt for a plain concrete patio size 12X12 feet to complete this project for USD $860.
Often, what you choose decides your renovation project’s length and expense. If you plan well, many features can be accessible for a lower price, even after labor and material charges. So, explore your selection from every angle before doing anything.
