When it comes to home improvement, some dollars stretch more than others. And if you’re on a limited budget, it becomes even more important to spend those dollars wisely.
Here are seven affordable home improvement projects that’ll help you enjoy your home more today and provide excellent financial return in the future.
#1 Add the Finishing Touch of Molding
Wood moldings come in hundreds of options — from simple to ornate — that you can stain, paint, or leave natural.
You can also find moldings in flexible materials, such as foam, that make installation a whole lot easier. Some moldings even include lighting that casts a soft, ambient glow.
Buyers consistently rank both crown molding and chair railing in their list of most desirable decorative features they seek in a home (#3 and #7 respectively), according to the annual National Association of Home Builders (NAHB) survey, “What Home Buyers Really Want.”
And at $1.50 per foot if you DIY it, or $8 per foot if you hire, it’s a no-brainer in terms of personalizing your home while adding value. (Although we don’t recommend DIY unless you’ve got above-par mitering skills.)
A few tips about molding:
Use crown molding to make a room seem bigger and taller. But be careful about proportions. If your ceiling height is 9 feet or less, go with simpler styles to avoid overwhelming the room.
Place a chair railing at one-third the distance of the ceiling height. Chair railing placed incorrectly can make a room seem out of proportion.
Don’t forget entryways, doors, and windows: Bump up the trim around these areas to give rooms a completed and expensive feel.
#2 Install Quality Ceiling Fans
Once ceiling fans were frowned upon — they were just a cheap solution to rising energy costs — ugly, wobbly, noisy eyesores endured because they were cheaper than air conditioning.
If your ceiling fans are old and outdated, new ones (coupled with a fresh paint job and crown molding) could give your rooms a refreshing update while saving money.
Some tips about ceiling fans:
- Hang 7 to 8 feet above the floor.
- If you’ve got a low ceiling, buy a hugger ceiling fan that’s flush-mounted.
- Go for the biggest Energy Star-rated fan that will fit the space.
- Choose quality. You’ll get better cooling results, less noise, and good looks at a digestible price point of $200 to $600.
#3 Plant Some Trees
Say what? Adding trees doesn’t instantly pop into your head when you think of adding value to your home. But trees are moneymakers that get better with age.
A mature tree could be worth between $1,000 to $10,000, says the Council of Tree and Landscape Appraisers. A 16-inch silver maple could be worth $2,562, according to a formula worked out by the Purdue University Cooperative Extension Service.
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