Americans spent around $472 billion on home projects in 2022, and this market will continue to grow to $485 billion by the end of this year. With an increasing number of home renovation projects, prices are rising. However, people living in more affordable states like Michigan, with 14% lower housing prices than the national average, can revamp their homes without breaking the bank. This state has the 2nd most beautiful and affordable city in America, Grand Rapids.
This city is 23.6% cheaper than cities like New York and has a $19.10/hour state housing wage. Due to the lower housing costs in Grand Rapids, residents can easily set aside a budget for home improvement projects. They can invest in home upgrades that enhance their living experience without putting too much strain on their finances. So, don’t let the high inflation rates stop you from upgrading your home.
Here are a few tips to stay within budget.
Upgrading old fixtures, like door knobs, shower heads, or window handles, can instantly freshen up your home’s look. Metal fixtures are especially vulnerable to humid weather and can rust easily. If you live in the humid Grand Rapids, which has a daily humidity level of 73%, hiring a company to replace old, rusty hardware can give your home a neater and put-together appearance.
With highly humid areas like your bathroom – consider replacing your shower, towel racks, toilet paper holders, and soap dispensers. Hire an expert at Shower replacement in Grand Rapids company for the shower replacement; the rest you can DIY. A local company can also give you an accurate quote according to your area.
Refinishing instead of replacing
The national average for refinishing furniture is between $400 and $1,200, significantly cheaper than spending thousands of dollars on new furnishings. Suppose you have an old coffee table as your centerpiece in the living room. It has become dull with use, and some of its wood is starting to chip away. Instead of replacing it, you can get it refurnished and avoid splurging on new furniture. This method keeps you from going over budget by refinishing items that are still usable. To avoid overspending, observe your furniture and check for any damages you can repair. Once you decide which piece needs refinishing, you can choose a new suitable stain color to change the look of your space.
Declutter and organize
Cleaning up your space makes it look more presentable, and you don’t have to spend extra money. A decluttered space is neater, which automatically makes it look better.
- Start by making a list of all the items in your space. This will help you to see what you actually have and what you don’t need.
- Go through each item and ask yourself if you have used it in the last 20 days. If you haven’t used it, chances are you don’t need it.
- If you’re not sure whether you need an item, ask yourself if you see yourself using it in the future. If you don’t, get rid of it.
- Be ruthless when decluttering. Don’t be afraid to get rid of things, even if they have sentimental value.
- Once you’ve decluttered, take some time to organize your space. This will help you to keep it decluttered in the future.
Set a firm budget
According to a 2022 Bankrate survey, 53% of American adults have delayed financial milestones because of the economy, and 25% refrained from taking home renovation projects. However, setting a budget can let you improve your home without burdening yourself financially. Many people struggle with home improvement projects because they overspend. The survey found that over one-third of homeowners exceeded their budget in 2021, and 27% didn’t even have one!
Your budget is a plan that you shouldn’t deviate from if you don’t have money to spare. It helps you prioritize your projects according to their need and value, then decide how much you would spend on them. A budget lets you operate within your financial limitations and reduces the stress of accidentally overspending. You can use budgeting tools like spreadsheets to keep track of your expenses and account for hidden costs by setting aside at least 20% of the estimated cost of your projects. This method ensures you don’t run out of money when you least expect it.
Shop from discount stores
With rising home renovation prices and a tight budget, finding affordable options is essential. Discount stores offer a diverse range of products at reduced prices. These competitive prices make it easier to revamp your space without breaking the bank. If you don’t have time to go to a store, there are websites you can check for discounts and deals. Stores like Home Depot or Amazon are one of the top home improvement websites you can shop from.
However, visiting home improvement stores in real life can help you see the quality of the materials and bargain for a better price. Shopping from discount stores offers affordable options that help you make the most of your budget.
DIY what you can
Being on a budget means you can’t afford someone to do all the work for you, so you must DIY what you can to stay within your budget.
You can save costs on projects like painting its cabinets or creating open shelves. Choosing to do the easy projects yourself can help you allocate more money towards more valuable projects like remodeling your bathroom or porch.
It’s important to only DIY what you can and leave the more critical tasks to the professionals to avoid wasting both your money and time.
Improving your space doesn’t have to cost you an arm and a leg. You deserve to feel comfortable and content in your home regardless of your financial situation. However, remember that creating a new space is not an overnight project. It takes time and dedication. Start with small projects, gradually save for the big ones, and follow the tips in this article to create your dream home.