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7 Home Improvement Projects for $1,000 (or Less)
By: Lisa Kaplan Gordon Published: November 1, 2011
Americans still think buying a home is one of the best decisions they’ve ever made. Here are some ways to increase your home’s value and comfort for less than $1,000.
We knew reports of the death of American home ownership were greatly exaggerated (nod to Mark Twain), and now we’ve got the numbers to prove it.
A just-released survey by the Meredith Corp., which publishes Better Homes and Gardens magazine, says the vast majority of people polled believe owning a home is a smart financial move and a source of pride.
Here are some results of the 2,500 people surveyed online:
- 86% of home owners still feel owning a home is a good investment.
- 85% feel "owning a home is one of their proudest accomplishments."
- 69% of Americans who don’t currently own a home agree with the statement, "No matter what happens in the U.S. housing market, owning a home is still an important goal in my life."
- 68% of Americans plan to spend money on their homes in the next six months, with roughly half (49%) expecting to pay up to $1,000.
A thousand bucks may not seem like a lot, but it goes long way toward improving the value and comfort of your home. Here are some projects we recommend:
1. Add a new entry door. Spruce up your curb appeal and save energy by upgrading your exterior door. Steel doors, which can mimic many types of wood, typically run for $400 at big-box stores and offer the strongest barrier against intruders.
2. Get organized. Decluttering and maximizing storage space are inexpensive ways to transform a home. Add space to kids’ rooms by installing platform or bunk beds ($400-$600); neaten piles of shoes with shoe organizers ($20), which can do double duty as catch-all organizers in family room closets and kitchen pantries; extend bookshelves to the ceiling, creating storage in otherwise dead space.
3. Save with a programmable thermostat. Switching from a manual to a programmable thermostat (less than $500) can save you up to $180 a year in energy costs. The latest models offer remote programming via the Internet.
4. Replace cabinet hardware. If you’ve got traditional knobs and pulls, try contemporary; change from staid to whimsical. Big-box retailers often have huge selections for budget prices. (10-pack for $20).
5. Update bathroom flooring. Give bathrooms a quick facelift by replacing old tile with vinyl flooring or ceramic tile, which can cost as little as $3 per square foot for material and installation.
6. Create luxury with a shower panel. Turn you bathroom into a spa with a programmable shower panel with adjustable spray jets, fog-free mirror, and multifunctional shower head. Most systems easily attach to existing plumbing. Panels typically sell for $360.
7. Turn a mudroom into a garden room. Bring nature inside by recasting your drab mudroom into a flower-filled garden room. (If you already have a utility sink, you’re halfway there. If not, it will cost you $200 to $350 to tap into existing, nearby plumbing, and $80 for a plastic tub.) Repurpose an old wood table into a potting bench. And hang your basket collection from J-hooks attached to a forged iron curtain rod ($100).
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Foreclosed Home Owners Become New Crop of Buyers
Foreclosed Home Owners Become New Crop of Buyers
Home owners who faced foreclosure a few years ago are back, and they increasingly want to buy a home again, mortgage brokers report.
The Federal Housing Administration allows people who have lost their home to foreclosure to purchase a home again three years following a foreclosure.
"It's an interesting phenomenon because, three or four years ago, these people were losing their homes. Now they're out shopping for a new home,” says Chris Apodaca, a California mortgage broker. “It wasn't swift and sweeping legislation that did it, simply a matter of perseverance. These folks waited three years and now they can buy again.”
About 1 million families enter foreclosure every year, according to the Mortgage Bankers Association of America.
Source: Broadview Mortgage
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