July 23, 2024

10 Renovation Ideas Under $5,000 | Real Estate

10 Renovation Ideas Under ,000 | Real Estate

Your house may be due for a refresh, but big renovation projects can easily cost tens of thousands of dollars. However, you can make plenty of home renovations without spending a fortune.

Another concern homeowners have is spending more than they intended. Mallory Micetich, home expert at home services company Angi, says to start with a realistic budget.

“Talk to several pros in your area to make sure you get high-quality work at a price that you’re comfortable with. Once you choose your pro, be very clear about your budget. A good pro will help you choose materials that work within your budget,” Micetich says. “You should also set aside 10% of the project cost for any unexpected expenses that come up during the renovation process.”

Here are some home improvement projects under $5,000 to consider:

Custom garage door on a residential home.

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“If you’re looking for an affordable project with a great return on investment, consider replacing your garage door,” says Micetich. In fact, a garage door replacement is typically near the top of the list on Remodeling Magazine’s annual Cost vs. Value report.

“Garage door replacements usually cost between $750 and $1,600, with an average ROI of 94%. Replacing garage doors can be a complicated process, so I recommend bringing in a pro to get the job done correctly,” Micetich adds.

According to HomeAdvisor, professionals typically price per project. Materials and labor are the biggest contributors to the cost of a garage door replacement, but it also depends on the size, material and style of the garage door.

Man painting the exterior of his home.

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A fresh coat of paint is one of the easiest and most cost-effective ways to boost your home’s curb appeal. On average, it costs around $3,087 to paint the exterior of a 1,500-square-foot home, data from HomeAdvisor shows, or it’s between $1.50 and $4 per square foot. How much you pay depends on the complexity of the job, the accessibility of your property and the amount of prep work required.

The quality of paint is another consideration, costing $20 to $80 per gallon. It may be tempting to go with a lower-cost option, but higher-quality paints will last longer, look better and offer better protection for your home.

Replacing home window.

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Upgrading every window on your house may put you over budget, but you can tackle this project one window at a time. “New windows can improve energy efficiency and increase the value of your home,” Micetich says. “On average, window replacements have an ROI of 68%. You can expect to pay between $200 and $1,300 per window.”

The window material, type, location and size affect the final price tag. According to Micetich, new windows can improve your home’s energy efficiency and increase its value. Energy-efficient windows lower energy bills by an average of 12% nationwide, according to Energy Star from the U.S. Environmental Protection Agency.

“While it’s possible to replace your windows yourself, I recommend bringing in an experienced pro for the best results,” Micetich says.

Home patio.

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Installing a new patio was one of the big home improvement trends during the pandemic home renovation boom. Many homeowners sought to increase the livability of their homes and patios can be built in a range of sizes, styles and materials.

Data from home cost comparison site Fixr shows that the cost to add a patio to your home ranges from $3,000 to $8,000. However, you can build a simple patio for much less. Fixr reports that a 12-foot-by-12-foot patio made of plain concrete costs, on average, $860.

Modern front porch.

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A new front door is a simple project that can greatly enhance the exterior of your home. “A new entry door can improve the look of your home while also helping you save on energy bills in the future,” Micetich explains.

New doors usually have better insulation, which allows them to keep heat inside your home during the winter and keep it out during the summer. A new front door costs between $500 and $1,500, says Micetich, with an ROI of 65%.

Happy woman painting bedroom.

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Give a room, or every room, in your house a refresher with a new coat of paint. HomeAdvisor reports the cost of an interior painting project ranges between $949 and $2,953, or roughly $2 to $6 per square foot for materials and labor. Even on the high end of $5,300, an interior paint job is still a budget-friendly home improvement project.

To help cut down on the cost even more, this is a job that many homeowners can do themselves. Painting one room can take between six and 10 hours, but if you’re skilled and have the right tools, it may only take a few hours.

Man installing wood flooring in home.

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Hardwood floors can increase your home’s value and are a desirable feature for many homeowners. While hardwood floors may be a pricier alternative to laminate or carpeting, installing them is feasible on a budget.

HomeAdvisor reports the national average cost to install new wood flooring is $4,386. Of course, the final cost depends on the size of your home or the space you’re planning to renovate and the flooring material you choose. High-end wood flooring throughout a large floor plan can cost upward of $10,000, according to HomeAdvisor.

A general interior view of a long narrow bathroom with white walls and suite, bath, sink fixed to a vanity unit, green wood paneling, chrome taps, large mirrors and a bathrobe hanging on the wall within a home.

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A full bathroom remodel will likely go way over a $5,000 budget, but a smaller-scale change can give your bathroom a new look at an affordable price. Consider refinishing your bathtub, which costs between $335 and $628, including materials and labor. Refinishing a tub and shower combo costs between $500 and $1,000. If there’s too much wear and tear, the cost of a new bathtub liner ranges from $1,800 to $5,100, according to HomeAdvisor.

Wheelbarrow standing on a neat manicured green lawn alongside a flowerbed while planting a celosia flower garden around a house with fresh spring plants.

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If you aren’t afraid to get your hands dirty, updating your landscaping can seriously improve your home’s curb appeal and give you a 50% return on your investment, Micetich says. Plus, a beautiful, lush lawn and the right landscaping can accentuate certain features of your home and add visual interest.

According to Angi, the average professional landscaping project costs $3,456, or $50 to $100 per hour for labor, but costs vary widely depending on the extent of the work, materials, labor, type of landscape, permits and landscaping method. On the upper end, it could set you back $13,000 or more. Labor alone takes up 50% of the final price, so doing the job yourself can price down the cost significantly.

A newly renovated kitchen features white shaker cabinets, "snowfall" pattern granite countertops, and stainless steel appliances.

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Another option for refreshing your kitchen for less is replacing your countertops, which can transform the look of the room. According to the Houzz Kitchen Trends study, 93 percent of respondents plan for new countertops in a kitchen remodel, making them the most popular feature to replace.

Of course, if you’re looking to install rare Italian marble countertops, you may find yourself with a big bill. But butcher block, engineered quartz, stainless steel, laminate and some types of granite and marble can all be purchased and installed for less than $5,000 for 50 square feet. On average, new countertop installation costs $2,300, according to HomeAdvisor.