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The average cost of a home renovation can fall anywhere between $18,404 and $75,968, according to Home Advisor. Kitchen renovations alone can eat up as much as $25,000 and bathrooms can force homeowners to dole out roughly $10,000.
What affects prices and how much consumers end up spending depends on the size of the room, if there are any underlying problems, the cost of materials and the extent of the remodel, Home Advisor noted.
However, if you don't have an extra $80,000 laying around, there are simple fixes from changing up some wallpaper, throwing on a fresh color of paint or changing some light fixtures can be an easy and cost-effective solution to transforming a space.
To help consumers out, experts at The Family Handyman Magazine compiled a list of home upgrades that consumers can do, all of which cost under $500.
And although sprucing up your home may come with its financial headaches, it's also important to note that DIY projects alone eliminate one of the biggest expenses that can occur during these projects.
Here are five ways The Family Handyman discovered that could help soften the financial blow.
1. Bathroom makeover
Making over a bathroom can seem daunting. Luckily, it may be as simple as replacing your countertops. A new granite bathroom vanity top can be found at retailers such as Lowe’s and Home Depot. Their prices range from $150 to $450 depending on the size, according to the magazine. To complete the "new" look, consumers can also replace their faucet and mirror. In total, the cost of the project may average around $430 and take a minimum of two to three days to complete, the magazine claimed.
2. Upgrading wallpaper
Changing up a room can be as simple as adding or changing the wallpaper on just one single wall. The project should only take one full day at most and a double roll of paper can cost around $122. However, supplies including as acrylic primer, which will help to seal the wall surface, can run consumers another $20 to $50.
The outlet cautioned that some wallpaper may prove to be difficult to hang. In that case, they suggest hiring an expert for an additional $150 to $250.
3. Adding halogen track lighting
Track lighting gives consumers the flexibility to put the lights exactly where they need it. According to the outlet, tiny halogen bulbs emit a "dazzling white light" which can help brighten a space. Track lighting, which has dropped in price within recent years, can also connect to any existing junction box in the ceiling. This means homeowners don't need to install a transformer, the outlet noted.
The “rail” system, that hangs below the ceiling, will hold both spotlights and pendants and typically runs either 4 or 8 ft. Kits for these systems can be found within lighting stores, home centers such as Home Depot or online. Their price starts out at about $150 and installation may take one to two hours.
4. Adding kitchen rollouts
Kitchen rollouts are a cost-effective solution to reorganizing the space. The rollouts, which can cost anywhere from $40 to $80, can help bring things such as pots and pans more accessible while freeing up more space. Installation is also very quick, with the outlet pegging it at about 15 minutes.
5. Trim and painting
Painting and adding trim to a room can also be a simple and creative way to spruce up an area. Two simple lines of trim can create a perfect framework for a two-color wall combination, the magazine reported.
However, consumers are urged to prepaint the trim and paint the walls before putting up the trim. After it's in place, homeowners can then touch it up with paint.
It was estimated that six gallons of paint would cost around $180 and 80 feet of chair rail and crown moldings cost roughly $200. The project should take anywhere between two to three days.