The 9 Best Home Renovations That Cost $5,000 or Less

We spend a lot of time in our homes. Spending extra time with the same walls, old fixtures, and tired floors can draw your mind toward changes you would love to make but might not have the budget for right now. 

You might be surprised by what you can do on a limited budget. So, if you want to spruce up your living space for less, consider these home renovation projects which can all be done for about $5,000.

Of course, the prices quoted here will depend on the grade of materials you select, amount of work you do yourself or the contractor you opt for.

Time estimates come from Jeremy Hines, Operations Manager and Partner for Central Texas’ Steel Horse Constructors, unless otherwise noted.

Exterior Upgrades

Is your exterior trim dull and peeling? Perhaps your garage door is sagging? Maybe your front door is looking tired? Help your home put its best face forward with a fresh coat of paint or upgraded doors. A few changes can take the look from standard to stunning.

Replace Garage Door

• Estimated Cost: The cost of a single-car garage door can run from as low as $350 up to over $1,000, excluding installation. Double-car garage doors start at around $500.
• Estimated Time: 1 day

You can also freshen the look of your existing garage doors for less with a paint job. If you do the job yourself, it could cost as little as $100 and take 4-8 hours, depending on the amount of prep work needed. 

Replace Entryway Door 

• Estimated Cost: From as low as $250, not including installation. Steel doors offer the best value for the price.
• Estimated Time: 1 day

If you are a handy DIYer, installing a new front door is not an overly complicated task to complete yourself.

Exterior Paint

• Estimated Cost: Anything from $500 up to $5,000. The cost can vary considerably depending on the size of your home, whether spraying or painting techniques are used, and whether you tackle the project yourself or use a contractor. To give an example, a 2,400-square-foot, two-story home would cost an average of $2,500 to have it professionally painted, including siding and trim. Painting over stucco or brick would cost more.  
• Estimated Time: From a few days to a week to paint the entire exterior, although this could be more if not using a contractor.

Outdoor Living Upgrade

Extend your living space by improving your existing patio.

This job, completed by Central Texas’ Steel Horse Constructors, took a standard back porch to a fully enclosed outdoor room. The homeowners also elected to install a ceiling fan for extra comfort and to add extra shade with another built-from-scratch covered patio.

“This job was about $6,500, including electrical work and the new ceiling fan, but it was built from scratch, tied into the existing roofline, and shingled to match the new 30-year architectural shingles with an additional radiant barrier” says Heather Wells, Steel Horse Marketing and Media Manager/Partner. “There was some additional cost for this one, but it could be done for $5,000.”

• Estimated Cost: $5,000+ depending on materials and scope.
• Estimated Time: 5-7 days

Interior Upgrades

For home interiors, the easiest fixes with the largest impact will be changing the color or texture of your walls, updating flooring, and adding new light fixtures. Here are a few ideas, room by room.

Flooring

Ripping out old, worn carpet and replacing it with a wood or vinyl laminate instantly updates and revives any room—and it makes messes a snap to clean. Let’s consider what it would take to switch out flooring for the average living and dining room and kitchen combined. This would be around 1,000 square feet of living space.

• Estimated Cost: Decent quality laminate can be sourced for as low as $2 per square foot. So, without installation, you could expect to around $2,000.
• Estimated Time: 3 days, but could be longer if you are installing the flooring yourself.

Bathroom

A full mid-range bathroom remodel can set you back more than $20,000. That doesn’t mean you can’t add some posh to your powder room. Update the vanity and countertop, and swap out a builder-grade mirror with something personal to add interest. If you choose materials that leave room in the budget to do more, change up the walls with a new paint color or add a reusable, peel-and-stick wallpaper.

• Estimated Cost: Approximately $5,000 and up, according to HomeAdvisor estimates for listed updates and wall changes.
• Estimated Time: 1 day, plus a day for caulk to cure properly 

Kitchen

While a full kitchen remodel may be well out of your budget, getting rid of old, dingy laminate countertops adds sparkle and finesse. You could finish off the look with a tile or mosaic backsplash to tie the room together. Let’s assume you are replacing with 30 square feet of moderate granite counters with an under-mount sink and a backsplash.

• Estimated Cost: $4,500, according to Fixr.com
• Estimated Time: 1 day, plus a couple of hours the next day for grouting if you use tile on the backsplash.

Upgrading existing mismatched and outdated appliances is also a way to freshen and modernize space. Expect to pay $3,000 to $5,000 for a new refrigerator, stove, microwave, and dishwasher, including installation. All can be installed in less than 1 day.

Living Room

Add warmth and comfort with a new fireplace. An electric model doesn’t require all the structural hassle of a traditional wood-burning type, and with a beautiful mantle, it can set the perfect tone for quiet nights in or entertaining a crowd.

• Estimated Cost: Basic electric fireplaces start at around $200, but you could max out your budget with more exclusive gas or wood-burning types.
• Estimated Time: 1 hour to 2-3 days, depending on the type and whether any structural changes or addition of electricity or gas is needed. 

Bedroom

Creating a peaceful space to rest your head is important. You can make a personal oasis by updating paint and adding a feature wall for interest and impact.

Modern removable wallpaper comes in looks from barnwood to bling and can be easily changed out when you want a fresh look again further down the road. Numbers here are for one wall in a large master bedroom, about 120 square feet.

• Estimated Cost: $480-$1,200, depending on materials, according to HomeAdvisor
• Estimated Time:1-2 days, depending on the amount of prep work needed.

We all want a home that reflects our style and works best for our family. With a small time commitment and a modest amount of cash, you can transform your space from stale to spectacular.