Monthly Archives: August 2016

The Cost of Home Improvements

There always seems to be work to be done around a house and it can be difficult keeping your home looking as you would like it to. An additional problem is that home improvements are often expensive, which puts many of us off getting more work carried out. It is possible to make some dramatic improvements without spending as much money as you might think.

The key is to really focus on the changes that would have the biggest positive impact for you and your family. There’s no point spending lots of money on areas of the house that you don’t use very much. Some experts would suggest that the best approach is to spend money on the kitchen and bathroom.

The reasoning behind this is that these two rooms are the two areas of a property that many potential buyers are keen to examine. So the thought is that spending money on these two rooms could add the most value to your home. You might prefer to concentrate your spending on areas of the house where you spend a lot of time, with the living room being one such area.

As you think about the improvements that you’d like to make, consider how some cheaper options could really transform an individual room. An electric fire suite, for example, is likely to be quite cheap but could actually create a whole new atmosphere in your living room. By being clever with how you spend your money, you can really improve your home.

Don’t forget that one of the largest costs will come from having to hire professionals to help you with painting, decorating and other tasks. If you can put your DIY skills to good use then you could really reduce the amount of money that you pay to others and hence limit the costs involved in your home improvements.

More Affordable Home Improvements

Why is it that so many of the best home improvements end up costing a lot of money? If that’s a question that you often find that you’re asking yourself, then you may need to take a new approach to improving your home. While some changes certainly aren’t cheap, you’ll soon find that there’s plenty that you can do on a limited budget.

The first big step that you can take if you want to get more done, without spending too much money, is to make sure that you have some decent DIY skills. This is really important because the costs involved in hiring someone to do work around your home can often be quite high.

By picking up the core skills yourself, you’ll find that you’ll be able to make some big savings. You should be able to pick up some basic skills by reading a decent DIY manual, or maybe by attending a few classes. Some of us worry that we’ll never be able to be any good at carrying out simple tasks around the home, but you might be amazed by what you can learn.

If you do really struggle then you might consider seeing if you have any friends who might be able to help.

When it comes to materials, products and gadgets, think about how you can get a great look without spending too much money. Relatively small pieces of furniture, for example, can really help to transform a room. Other decisions that you make are likely to have a big impact on our budget.

Have you thought about whether you might use a mixture of paint and accessories to change a room, rather than using more expensive wallpaper as a solution, for instance?

If you can reduce labour costs and materials then you’ll be able to get some great home improvements for less.

Finance Your Home Improvement Project

Tips On Financing Your Home Improvement Project

Any renovation of your home can run into a substantial cost. Most homeowners either don’t have that amount of money laying around or prefer to finance the project from the equity in their home.  Loans are often used as a means of financing the upgrades.

In general the best home improvement projects are those that increase the value of your property through repairs or upgrades. Pretty much any action taken to increase the expected sales value of a home would fall into that classification.

These are the typical ways that a homeowner will raise money.

First Mortgage

  • Depending upon the size of the renovation and the equity in the home, a lot of people raise the funds by refinancing their first mortgage. Some new homeowners will wrap the money for renovation of their new home to the actual first mortgage. This type of loan will often be designed to allow the homeowner to draw against a pre-specified amount to pay for the repairs or upgrades as the work progresses.

Second Mortgage

  • Many times a home owner will not want to refinance their first because of beneficial terms or conditions. In that case many people can use a second mortgage to obtain the desired funds if there is adequate equity in their home.

Unsecured Loans

  • Unsecured loans from family, friends or by using a home improvement credit card are other avenues often used by many homeowners. Most times when a credit card is used it is for a DIY home renovation and is used to strictly pay for materials. Most Home Building Supply companies issue this type of card.

Before you can decide on the best type of financing for your project you need to create a detailed plan for the improvements including a calculation of the actual costs for both material and any hired labor.

Make sure that you include a fudge factor. This is an extra amount to cover unexpected expenses that will crop up in any renovation. It will also be handy to have an estimate of how the improvement will increase the value of your home. To be successful in getting the required funds you should start by asking yourself several questions.

  • Are the improvement going to increase the value of your home more than the loan amount?
  • What are the estimated monthly payments and are they affordable?
  • Are there going to be tax consequences?

Finally, make sure that you use some type of method to track the expenses so that you stay on budget. It is extremely easy to have a little extra here and there suddenly become a whole lot of red.

DIY Home Improvement Repair Done at Zero Cost

Home improvement sounds exciting and brings up images of a swanky looking home with great interior designs, furniture and furnishings. However, the image will become a reality only if you prepare a budget, plan your expenses and search for home remodeling discounts.

Where can you find discounts and special offers?

Search:

o Local hardware stores
o Home decorating stores
o Online stores
o Competitions and other events

Note, before you begin the actual work, it is imperative that you know what you want. It could be easy to spent a fortune on improvements, yet ended up with feeling dissatisfied. So the first thing to do is not prepare a list of your desires and expectations.

The next thing to do is to prepare a budget to determine the expenditure involved in the whole process. If you cannot afford the expenditure, it is advisable to tone down your plans.

No Progress Without A Budget

When preparing the budget, consider the various discounts and promotional offers available in different stores. This will bring down your expenditure and a previously unaffordable wish list may fit your budget after considering the discounts.

Check out the internet for home improvement discounts. Shopping online always fetches you a good deal as goods are cheaper when purchased from online stores. If you manage to find discounts when shopping online, you can drastically cut down your expenditure.

Another good way to find home improvement discounts is to join a sweepstakes. Large electrical stores and mortgage companies organize these competitions and offer home DIY repair and other packages as prizes.

Home repair stores also organize such sweepstakes as well. So don’t hesitate to try your luck. With a new and improved home as the prize, what is the harm in trying?

Many stores, online and off, are keen on organizing these events and this gives them a lot of publicity. If you win a prize in such a sweepstakes, there is no doubt that you will be loyal to that particular store only.

Home Depot, America’s biggest online store dealing in home remodeling goods, is famous for organizing such sweepstakes. The events have been structured to give maximum people a chance to win a prize.

Some prizes are coupled with other tickets and the right combination can get you even a bigger prize. All you need to do is join the sweepstakes and wait for lady luck to smile on you. The best part is that the Home improvement sweepstakes is open for any and every visitor of the store.

These and other competitions are popular as everyone has an equal chance of winning. It is just a matter of being at the right place at the right time. People enjoy such participating because they do not stand to lose anything.