Upgrading Your Home – Save vs. Splurge

You’ve decided that you’re going to upgrade your home over the coming months. Congratulations! But you’re still weighing your options and your budget. Should you save or splurge on your home improvement jobs?

Obviously, what you plan to do to improve the value, comfort and function of your property is entirely up to you. But remember that some of the so-called cheap home improvements may not provide long-term savings. In any case, here are some simple ways to modify any projects to fit your budget.

1. Update the Kitchen

Is your kitchen reminiscent of an Ozzie and Harriet episode from the 1950s? It’s time for an update, but you don’t have to spend all your cash to make it modern:

• Improving the kitchen for less: Paint the cabinets a clean, bright color. Add new window treatments, purchase new countertops, buy a wheeled island for added prep and storage space, replace smaller appliances, and change all the hardware.

• Improving the kitchen for more: Switch to a different type of flooring. Buy brand new larger appliances, buy new cabinets, add a mosaic tile backsplash, and add another window. You could even add an eat-in kitchen or a fully-functional island.

2. Update the Bathroom

The bathroom is the most used space in any house, and it’s also one of the first that people want to remodel. Even if you’re on a tight budget, you can make some changes that will allow you to feel pampered every time you use your bathroom:

• Improving the bathroom for less: Repaint all the walls, and repaint the tub to cover scratches. Consider buying a new budget-priced toilet, new faucets, new towels and rugs, and an energy-efficient shower head

• Improving the bathroom for more: Add a new tub or shower, or hire a professional to do a total remodel of the bathroom layout. You can buy a high/low flush toilet, add updated lighting, add a second sink and redo all the flooring.

3. Turn the Basement Into a Livable Space

If your basement has a decent floor, has appropriate walls, is free of mold and is dry in all seasons, you’ll be able to transform it into a livable space. Here are our suggestions for save-a-lot improvements and spend-a-little-more improvements:

• Basement overhaul for less: Move furniture from other rooms into the basement. Paint all the walls, or purchase a larger carpet to cover the majority of your basement’s floor. Hang photos and artwork for a finishing touch.

• Basement overhaul for more: Buy all new furniture, add more wall or “divider” walls, add new lighting, and wire the basement for surround-sound. You can also invest in hardwood flooring or wall-to-wall carpeting, or completely remodel the ceiling.

No matter what your financial budget, make sure that you also budget for the time necessary to complete the project! No one wants to live with a half-finished home remodel job. Some projects can be completed in a weekend, while others require a time commitment. Be patient if the job takes a little more time than you’d like — the results will be worth it!

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