Since the economic downturn of 2007 and the subsequent recession, the economy has steadily improved. Every month, homeowners hear how unemployment rates are down and the housing market has rebounded following the housing burst. Workers feel more comfortable buying a house following slight increases in wages.
Higher wages play an important role when it comes to houses. If workers are earning more, they can save for a house, put forth a down payment and secure a loan. Banks will feel comfortable lending money over a 30 year or so period to homebuyers. As wages keep increasing, homeowners can then invest into their house by completing repairs and other projects.
Not all repairs have to monumental. In fact, there are a few home improvement projects that can be completed for $1,000 or less. It's always nice to save some money when possible.
No matter how many bathrooms are in your house, they likely attract a lot of foot traffic, especially during social gatherings. Therefore, it's necessary to maintain the freshness of the bathroom, as no one enjoys a dirty area. You can nearly overhaul a bathroom for under $1,000 from new paint colors, to new linens, shower curtains and light fixtures.
You may also want to consider upgrading the toilet, which CNNMoney said can be done for roughly $200. Check to make sure the new toilet is a Watersense model. According to the U.S. Environmental Protection Agency, toilets with the Watersense label have been independently tested to ensure they're water efficient. The EPA said old toilets would use approximately 6 gallons of water per flush. Over the course of a year, 30 percent of a household's indoor water consumption was from the toilet.
Watersense models are currently as efficient as possible. Some of today's toilets only use as little as 1.6 gallons of water per flush. Not only will homeowners upgrade the toilet, they may even save money and eventually recoup the cost. Replacing and tightening leaky faucets can also end constant water dripping and save money. However, some plumbing matters may require professional assistance and could stretch the $1,000 budget.
Light up the room
The lights throughout your house may be very old, and as a result, not provide much benefit. According to Porch, the best way to enhance the interior of your house is to upgrade the lighting. It's also one of the quickest and most cost-effective measures to make a room feel larger than it actually is, wrote Anne Reagan.
With a $1,000 budget, you can fix every light bulb, buy new table lamps and even utilize new lamp shades. You can save additional money on your lighting bill by opting for compact fluorescent light or LED bulbs.
Homeowners are actually unaware of the benefits of enhanced lighting. In an interview with Porch, interior designer Elvis Restaino said more lighting gives the impression of less lighting.
"Many individual lights create layers of texture and create the illusion of light," said Restaino.
Furthermore, you may be able to take advantage of various smart home offerings and install systems that enable you control lighting from your phone. Keep in mind that if you decide to replace the electrical system, you'll need a home inspection company to come out and verify everything meets state and county regulations.
Can't forget the kitchen
Unless you're in the market to replace every appliance, you can complete many kitchen improvements for $1,000 or less. That's not to say you can't upgrade your appliances, as a new dishwasher can be found for about $500. A stainless steel fridge is roughly $1,000, meaning you'll have to budget accordingly.
Otherwise, CNNMoney said new door and drawer pulls can be bought for about $2 to $10 each. Even inexpensive upgrades such as painting, fixing broken cabinets and shelves and changing electrical outlets will boost the kitchen space.
New front door
Other than the outside of your home, the front door is one of the first things guests see when visiting. The wrong front door can lead to opinions, either good or bad. CNNMoney said investing in a new door is a wise move because of enhanced looks and better security.
However, the amount you pay for a new door may end up being more than $1,000. The cost will depend on where you live and the type of door, according to the Remodeling's Cost vs. Value section. Installing a fiberglass door will run homeowners approximately $3,000, whereas a steel entry door will cost about $1,230.
You may also decide to install an advanced lock that can be unlocked with your smartphone's Bluetooth capabilities. These dead bolt locks will cost extra, so be sure to take that into account when looking to upgrade your home's front door.
These are only a handful of home improvements ideas you can complete for $1,000 or less. As a homeowner, you'll likely find even more projects to work on. The choices are truly endless.