Budget Friendly Home Renovations
While renovating your home can seem like a time and money consuming task, it can be an essential part of making your house feel like the home of your dreams. The key to any successful home renovation is simple; you need to have a plan and budget that works for you and your situation.
While splurging on home improvements from time to time is okay, you do not have to break the bank, or credit union, to achieve the home of your dreams.
So, grab a pen and paper; we’re here to share some budget-friendly home improvements you can do this summer.
Kitchen Renovations
- Update Countertops- In most cases, this is the most used surface in your home. Counter space also accounts for some of smallest square footage in your home; use this to your advantage when considering material expense.
- Change up the Backsplash- Is your backsplash outdated or in need of some TLC? Adding a fun pattern, color, or shape can complement and elevate your kitchen space. There are a multitude of options at various price points when it comes to backsplash materials.
- Reinvent Your Island- Traditional island installation can be a costly venture. If you’re short on space and funds, try adding a free-standing table or cabinets to make for optimal space and storage in the kitchen.
- Upgrade Cabinets- A coat of paint or new handles on your kitchen cabinets can work wonders! You can even try creating open shelving for an open concept storage option. These low-cost renovations can drastically change the look and feel of your kitchen space.
Living Space Renovations
- Update Flooring- This may sound costly, but there are many peel and stick options out there to add on top of existing floors. Even if you decide to break the budget and get new flooring, that’s okay. Flooring is another surface in your home that’s used often, so the best option could be to get something durable that you’re going to enjoy.
- Change Out Window Décor- New curtains and window treatments can brighten up or set the mood in any living space. Depending on where you look, window treatments can be reasonably priced.
Bathroom Renovations
- Add an Accent Wall- Peel and stick wallpaper is all the rage right now; it’s inexpensive and easy to apply, do some research for application tips. An accent wall, whether it’s an eclectic wallpaper design or a fun paint color, can elevate the space and make for a trendy conversation piece.
- Add Storage- This can be a good practice for the whole house. Storage doubles in its appeal; it’s both a method of organization and a means to decorate your space.
- Swap Out Hardware- Again, this is a great and inexpensive option, depending on what materials you choose, to revive any space in your home.
Bedroom Renovations
- Trim the Walls and Ceiling- You can create the illusion of wainscoting in a cost-effective manner by outlining the wall with some trimming and lumber. Trimming can give an illustrious effect and make for a more intimate setting.
- Add Shelfing- This can be an especially great option for the kids’ room as a place to house toys and other items. These dual-purposed shelves will only set you back the cost of lumber and installation, unless you tackle the installation yourself.
Whether you plan to roll your sleeves up and work on these home renovations yourself, or hire a renovation team, Fairmont Federal Credit Union has various personal loan products and resources to help you through the entire home buying or home renovation process. Our Home Equity Loan (HELOC) is the best way to use the equity you’ve accrued on your home to finance projects such as a home renovation.
Taking out a line of credit or loan to fund renovations will ultimately increase the value of your home and help you avoid dipping into personal savings to fund the project.
Talk with one of our Loan Specialists in order to create a plan that accommodates your needs.
