Purchasing a residential property in the United States can cost from $166,488 and increase to $635,000. The cost varies by state, so you can find a cheaper-priced home if you want. That only reveals that buying a house is never cheap. It’s a substantial financial obligation, and you need to have enough funds and savings to ensure that you can pay for its monthly mortgage. If not, you will suffer major financial issues right after paying for its down payment. This scenario is probably one reason why many Americans still avoid purchasing a new property.
Zillow released research about homeowners in the United States. According to data, 76% of homeowners in the US would instead renovate their existing homes than purchase a new one. That is especially true for the aging population. Even young adults think the same thing. Some of them also choose to upgrade their residential properties because they love staying in that particular home. Aside from this, most of them want to avoid dealing with the hassle of moving to a new place.
Preparing for Home Upgrades
Choosing to stay at your old home has its perks. You no longer need to worry about major financial obligations. Also, you don’t need to think about the complicated and sometimes stressful process of moving out. If you have extra funds, you can perform a home transformation rather than paying for an expensive down payment for a new property. However, you need to realize that getting home improvement services can also cost hundreds or thousands of dollars. For you to gain an idea, a complete home makeover can cost around $300,00 more or less. Thus, you need to ensure you prepare enough cash to finance the renovation project.
Practical Guide for Home Improvements
If you want to achieve a full home makeover without spending too much, you can choose to tackle one project at a time. For instance, you can renovate the kitchen first, then proceed with the bathroom next. The key is to prioritize parts of your home that badly need the upgrade. Here are a few recommendations to help you prioritize home upgrades and improvements:
- Prioritize repairs—Inspect your entire property and see if there are damaged parts that need fixing. For instance, check out if you need industrial piping supplies if you need kitchen sink plumbing repairs. You can also contact other contractors to address other concerns, including damaged roof or wall cracks.
- Consider repainting walls—Repainting your walls with a new color can provide considerable improvement to your property. Choose a new style and theme and browse paint ideas online. Make sure that all the colors that you plan to use will complement each other.
- Upholster or paint furniture—Old sofas and beds can be upholstered. Instead of purchasing new furniture, you can take it for upholstery. You can also repaint old tables, chairs, and cabinets instead of buying new ones.
- Landscape your outdoor area—If you have an outdoor space, consider landscaping the area. Create a walkway and arrange plants properly. You can also hire a professional landscape artist or landscape designer if you want to achieve a breathtaking and appealing design for your outdoor area.
- Display art—Be creative when decorating your property. Look for unique pieces of wood, recycled bottles, and other materials that can become decorations. Use your imagination and transform simple materials into works of art. Decorate your home with these pieces, so you don’t have to spend too much on displays/decorations.
- De-clutter your home—Get rid of things you no longer need. Consider having a garage sale so you can get additional income from your old stuff. If not, you can donate it to charity. Clutter may include old toys, clothes, shoes, etc.
Indeed, it’s better to improve your home instead of moving to a new one, especially if you are a sentimental person. It’s hard to let go of your existing home if you have lived in it for several years already. It holds a lot of beautiful memories, so leaving your old home is like leaving these wonderful moments behind as well.
If you don’t want to move out, you can consider following the suggestions mentioned above. With these ideas, you can make your old home look good as new. You can work with professional home designers to help you with the upgrades so that you know what works for it. If not, you can browse ideas online and check out practical ideas to help you perform some projects without hiring experts.