8 Home Improvement Ideas Under $500

8 Home Improvement Ideas Under $500

1 min read
Sterling White

Sterling White is a multifamily investor, specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling was involved with the management of over $10MM in capital, which is deployed across a $18.9MM real estate portfolio made up of multifamily apartments. Through the company he founded, Sonder Investment Group, he owns just under 400 units.

Experience
Sterling is a seasoned real estate investor, philanthropist, speaker, host, mentor, and former world record attemptee, who was born and raised in Indianapolis. He is the author of the renowned book From Zero to 400 Units and the host of a phenomenal podcast, which hit the No. 1 spot on The Real Estate Experience Podcast‘s list of best shows in the investing category.

Living and breathing real estate since 2009, Sterling currently owns multiple businesses related to real estate, including Sterling White Enterprises, Sonder Investment Group, and other investment partnerships. Throughout the span of a decade, he has contributed to helping others become successful in the real estate industry. In addition, he has been directly involved with both buying and selling over 100 single family homes.

Sterling’s primary specialities include sales, marketing, crowdfunding, buy and hold investing, investment properties, and many more.

He was featured on the BiggerPockets Podcast episode #308 and has been contributing content to BiggerPockets since 2014, with over 200 posts on topics ranging from single family investing and apartment investing to mindset and scaling a business online. He has been featured on multiple other podcasts, too.

When he isn’t immersed in the real world, Sterling likes reading motivational books, including Maverick Mindset by Doug Hall, As a Man Thinketh by James Allen, and Sell or Be Sold by Grant Cardone.

As a thrill-seeker with an evident fear of heights, he somehow managed to jump off of a 65-foot cliff into deep water without flinching. (Okay, maybe a little bit…) Sterling is also an avid kale-eating traveller, but nothing is more important to him than family. His unusual habit is bird-watching, which he discovered he truly enjoyed during an Ornithology class from his college days.

Education
Sterling attended the University of Indianapolis.

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In this post, I’m going to be going over improvements that you can do to your properties for less than a $500. Let’s jump right in.

Low-Cost Property Upgrades

  1. Paint

Paint really pops, especially when you have a resident or a prospective resident walking through. They smell that fresh paint, and it really gives your unit that pop.

In the video above, the unit shown is just under 700 square feet. Its two-tone paint scheme with a gray base and white trim was just $375.

  1. Hardware

Replacing hardware like doorknobs and cabinetry handles can make a big impact.

Related: Beyond Bathrooms & Kitchens: 7 Upgrades to Boost Property Values & Rents

  1. Fans

Fans are another small thing that can go a long way, especially if the existing fan is really outdated.

  1. Flooring

Is there carpet in a room that you can rip out and put vinyl plank or laminate throughout? You can get that at a very affordable price.

  1. Blinds

Blinds are very cheap. Even if blinds are in place and in working condition, replacing them can give a unit a little pop.

  1. Appliances

You may be able to get a discount on some stainless steel appliances at a used appliance store. Other times, it’ll be a little above that $500 range, maybe somewhere between $500 and $700.

Related: 4 HGTV-Level Upgrades to Make Your Flip Stand Out

  1. Countertops/cabinetry

Resurfacing countertops and cabinetry can make a big difference. Rates on this range. In the unit in the video, we were able to get $160 per resurface. We do that through economies of scale. Since this property is 80 units, we’re able to get a more affordable price.

  1. Backsplash

This is one thing prospective tenants really notice. And it was completed for just $125—materials and install!

The Bottom Line

So those are some improvements you can make for under $500. Even if you’re on a shoestring budget, these upgrades can really take your unit above and beyond.

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Are there any cheap upgrades you’d add to this list? 

Share in a comment below!