Finding the Balance Between Budget and Home Improvements

Kimberly Bean
Published on July 11, 2016

Finding the Balance Between Budget and Home Improvements

Renovating can be very expensive, whether you’re working on your own home or an investment property. How do you strike a balance between renovations and your budget?

Weigh your options

Very few Southern Maryland homeowners have an unlimited budget to do all the upgrades they want. Start by evaluating the property as a whole. Decide which parts are most significant and which parts need updating the most. Where will you need to spend the majority of your budget?

In most renovations, the bathroom and kitchen offer the best investment. Look at both rooms to see what you can keep and salvage from what is already in the room. Then, look at the rest of your house to identify other areas that would impress potential buyers.

First impressions are vital in real estate, so don’t overlook curb appeal. Think about spending some of your budget on the porch and entryway.

Where to splurge – and where to reign it in

Go through every room in your house to identify the stand-out features that will catch buyers’ eyes. This will help you know where to splurge and where to save.

For example, in the kitchen, you could splurge on marble countertops but save by being selective and only using marble for some of the counter areas. Opt for stainless steel or another surface for the island to help stay within budget.

In the bathroom, don’t break the bank on the most expensive tiles for the whole bathroom. Neutral tile in the shower can save you a bundle and still look great. Use that expensive tile by adding a strip of it as a border.

Think about flooring

Everyone loves hardwood floors, but it can make a big dent in your budget. Don’t overlook laminate. It has improved drastically over the years, and can be the most cost-effective way to get the hardwood floor look without breaking the bank.

If you opt for real hardwood floors, create an elegant look by being selective where you decide to use it. Do you really need to replace the floors in all the rooms? Tile kitchens and bathrooms to avoid water damage. Save in bedrooms by using carpet instead of expensive hardwood.

Keep the yard simple

If you’re trying to sell your Southern Maryland property, it’s not a good idea to go crazy with your landscaping and gardening. Consider low-maintenance options instead of investing in expensive plants and flowers that will need lots of attention and maintenance.

Instead of spending big on a paved walkway and blowing the budget, consider a gravel path. It will be just as appealing – without the cost of a paved walkway.

Where should you spend your renovation money? The best advice is to be selective and know where your money is best spent.

White Plains MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309

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