5 Renovation Projects Under $5,000

You know the popular saying, home is where the heart is. Indeed, we believe that the majority of homeowners, as well as renters, would agree.

Plenty of energy, time and attention goes into maintaining a beautiful home, as this is the place where you eat, socialize, store all necessary items and rest your tired head at the end of a long day. So, what happens if you begin to feel like your home is slightly outdated?

A renovation project can definitely work to renew surfaces, structures and facades, helping you to fall in love all over again. However, home renovation projects can be costly, requiring ample time and money. Luckily, we’re here to suggest some projects that won’t break the bank, as they all cost less than $5000 to complete.

So, if you’re ready to make some changes to your home, read on and find our 5 suggestions.

Renovation projects that cost less than $5000

1- Paint

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Paint may seem an obvious choice for a quick upgrade. But as a matter of fact, most homeowners greatly overlook the power that paint has to change the look of their home. Applying a fresh coat of paint is one of the cheapest and simplest renovation projects for breathing new life into your house.

Not sure where to start? If you have an outdated kitchen, you might consider repainting the cabinet doors, which is a job that shouldn’t take more than a day or two. If you find peeling paint in your bathroom, which is a common discovery, consider updating with a fresh coat of water-soluble paint in a bright or interesting colour.

Another way to add some excitement to this project is to paint an accent wall in an outrageous or bright colour. This is becoming increasingly popular in modern homes, and a bold paint job will definitely add some visual interest to those dull rooms. Just think, if you get sick of the colour you choose you can always paint over it with a vibrant and new colour in the next few years! If you’re not that into paint, why not consider a wall covering? There are plenty of alternative and salvaged materials that can be used as a quirky or unique accent wall.

You can find some ideas on how to update your home with paint or wall coverings in this article! Most gallons of paint range from $30 to $100.

2- Modernize your home

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Although paint and wall coverings are an excellent way to modernize and update the surfaces of your home, these options are purely cosmetic. In some instances, you may require a more detailed renovation which focuses its attention beyond the surfaces.

Modernizing the appliances and devices that you use in the rooms of your home will not only add to the resale value but will help to keep everything running smoothly. Update an old bathroom by installing modern fixtures and finishes, maybe a new shower head, sink or toilet? Although completing an entire bathroom renovation can be costly, taking on this job in baby steps will be aptly affordable.

Consider the aspect of the room that is in most need of an update, begin there and see how much is left in the budget to concentrate on other places. If you’re working in the kitchen, maybe it’s the counter that needs replacement or perhaps consider the benefits of a new fridge or dishwasher.

Although they may cost more upfront, energy-efficient appliances will save you greatly in the long run. As an example, a dishwasher may cost between $600 and $3,000. In return, you'll save around 35 litres of water compared to hand washing and if your dishwasher is smart, you'll see the difference on your hot water bill. For all the important information regarding ways to improve your home’s energy consumption by way of renovation, read our article 10 Ways to Improve Your Home's Energy Efficiency.

3- Replace your front door, trim and other façade features

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Even though you can’t see the outside of your house from the inside, that doesn’t mean that updating and renovating these areas isn’t necessary. Ever heard of a little thing called curb appeal? Since those passing by can’t see too deep inside, it is important to maintain your façade, and this includes your trims, decks and doors.

The front door is an aspect of the home that is likely overlooked when it comes to wanting a drastic change or cost-effective renovation. However, your front door is an inexpensive upgrade that will impact the curb appeal of your home exponentially. Remember, this is the first impression for guests and anyone just passing by. If you’ve updated your front door recently, or you’re satisfied with the one on the front of your home, consider other outdoor aspects.

When was the last time you updated or cleaned the trim or gutters? If you have a garden, have you been maintaining the landscaping? Would you like to build a small deck adjacent to your property? All of these renovation projects will come in at under $5,000, so take a walk around the outside of your house and see what may need renovating!

To give you an idea of the prices of an exterior door, a PVC one costs between $1,300 and $1,800, while a steel one can reach $2,000. If we are talking about a garage door, calculate from $2,400 to $12,000, knowing that many options are below $5,000.

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4- Replace your flooring

Now, you might have imagined that replacing your floors would be an expensive project. But, we’d beg to differ. Especially if you’re still living with carpets that were installed several years ago, you should consider replacing these with hardwood, vinyl or other flooring options. Carpet is comfortable, yes, but it is also a hotbed for allergens as well as the serious potential for mould and mildew growth. So, if you’ve been fantasying about tearing up those carpets for quite some time, the moment is now.

As we’ve mentioned in several of our other recommendations for renovations under $5000, a lush-looking floor can seriously add to the value of your home. If you don’t have the full budget for hardwood, laminate flooring is another excellent option that is easy to clean and won’t absorb dust or dander as carpeting does. Is this the project you’re interested in? Check out our renovation flooring guide.

Looking for flooring materials that are durable and inexpensive? Check out 10 affordable flooring materials.

5- Let there be light!

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Now, the light in your home is pretty integral to how things look and feel, something you may not have realized before reading this sentence. Although dim lighting can be romantic, it’s difficult to function in a dimly lit home when cooking, cleaning or completing other important tasks. Aside from the importance of good lighting for tending to practical matters, low or awkwardly placed lighting can make a beautiful interior look particularly dull or uncomfortable. 

For this reason, consider the dispersal of light in your home. Think about both light fixtures, bulb choices as well as windows and window placement. Updating the fixture style, the bulb itself or even changing your windows to a different model can offer new light and new life into your home. Also, as mentioned, this renovation will be cost-effective! What's better than that?

For more information, check out this article: 

• How to brighten a dark room

• The Different Types of Light Fixtures

• 3 Things to Know About Interior Lighting