5 remodeling projects under $10,000

You don't have to add a room. Simple things like windows and landscaping may give you more bang for your buck.

By Alex Markels, U.S. News & World Report

So you've decided not to trade up after all. Even more, you don't want to dump a lot of money into fixing up your house if its value -- and your equity -- are likely to be flat or even falling in the next few years.

That said, you can still add to your home's resale value (and your happiness) with a budget-minded remodeling project. True, of the top 10 projects for increasing your home's value for the dollars spent, "there's really only two or three that you can do for under $10,000," says Sal Alfano, editorial director at Remodeling magazine, whose annual "Cost Versus Value" report ranks the projects with the biggest payback.

But while adding a bathroom (about $30,000), a sunroom ($50,000) or a master bedroom suite ($95,000 and up) will return about 70 cents for every dollar invested, Alfano's latest analysis finds that you may get more bang for your buck with lower-cost improvements, such as replacing the windows ($10,000), siding ($9,000), or the kitchen cabinets and appliances ($17,000), which will yield some 88 cents on the dollar.

Of course, you might not get quite as much enjoyment out of new vinyl siding as you would from, say, a new bathroom with a sunken tub and Jacuzzi jets. "But you'll increase your curb appeal and lower your maintenance," says Alfano, "which will definitely add to your happiness."

Here are five remodeling projects, each of which can be completed for about $10,000, and all of which can help make you feel better about staying put:

A basic bathroom makeover

Unlike adding a bathroom, which between plumbing and all the rest runs $30,000 and up, a basic makeover can be done for a third of the cost and offer more bang for the buck, especially if you have two bathrooms (which is considered about average for a three-bedroom home).

Start by upgrading your old toilet to a low-flow model. Then add new tile, such as glass varieties that can give the illusion of depth in a small space. (Ideas and examples are at www.hakatai.com.) Starting at about $5 a square foot, these popular tiles can also be used to accent lower-cost ceramic tiles.

"Maybe the bulk of the room is just plain ceramic vanilla, but then you splurge on metallic blue glass for the border and it creates a stunning effect for not much money," says Alfano.

A deck is a simple way to add space

Adding an outdoor deck is perhaps the most affordable way to expand your home's footprint, and it's an especially good idea if you need to keep up with the Joneses.

"If everyone else in the neighborhood has one, it's probably a good investment to have one too," says Alfano.

Thanks to weatherproof composite materials that have largely replaced traditional redwood decking, the days of warped timbers and messy annual coats of sealant are long gone. That said, decks made from the most popular composites -- like plastic-and-wood Trex -- typically cost more than wood (about $14,000 for a 16-by-20-foot finished deck). By simply cutting back on square footage, you can easily stay under $10,000.

"Just make sure it's bigger than your average stoop (about 6 by 8 feet)," says Alfano. "Then you at least have enough room for a barbecue and a couple of lounge chairs."

A garden fit for a queen

Landscaping is perhaps the cheapest, most underrated way to improve a home's curb appeal. But instead of simply resodding a weed-infested yard, consider planting an English garden of flowers, trees and stone (you'll find design ideas at www.englishgarden.co.uk).

Or, if you live in an arid climate, try ornamenting your yard with desert plants, which can reduce water consumption by 60% (see examples at www.xeriscape.org).

Do-it-yourselfers can usually install a medium-size garden in a weekend or two, and the impact is almost as immediate. "For one thing, you won't have to mow the lawn the next weekend," says Alfano.

New windows will brighten your outlook

It's amazing what new windows can do for your perspective and for your home's curb appeal. In recent years, vinyl models have dramatically improved in quality while falling in price. Although they come in only a few basic colors -- mostly white, black and beige -- they never need repainting, and their double- and even triple-pane glass makes them vastly more efficient than older windows, especially those framed in poorly insulating aluminum.

Window replacements can be done in stages. But Alfano of Remodeling magazine suggests doing at least 10 at a time, which installers can usually complete in a day.

Even better, if you install Energy Star-rated models in 2007 (examples at www.efficientwindows.org), you can take advantage of a $500 federal tax credit that will nearly cover the cost of the first two windows.

Sprucing up your kitchen

A kitchen remodel for under $10,000? It's doable if you head for the nearest Ikea megastore, where a set of 18 replacement cabinets will run you about $4,000 and up. Add $3,000 for installation and about $1,500 for new Formica countertops, and you'll transform your kitchen for about the cost of a fancy Sub-Zero refrigerator.

Another option is to reface your existing cabinets, leaving shelves in place but laminating exposed surfaces and replacing the doors, which can cost about a third as much as new cabinets but yield much the same result.

If you're content with your cabinets, consider investing your money in new high-efficiency appliances (you can find a list of top-rated models at www.greenerchoices.org). Alfano says that will both improve your home's marketability and reduce your electric bill.

Go to www.LagretRealEstate.com