My husband noticed the other day that the value of our home had risen. (He’s so good with stuff like that – I would have never even though to CHECK IT. Mercy!) But he loves all things financial, and was pretty pleased to see the equity we’ve built in the past couple of years. So he shared his joy with me! Which led to a conversation about a few remodeling projects we still want to complete in this house. Which led to a discussion about where we would pull the money from in order to make those changes.
Somewhere along the way, Jorge Adevop sent me an email to see if I was interested in publishing his article regarding ways to pay for remodeling projects, and yes, I was interested, not only in publishing it, but in reading it for myself! Check out his ideas below…they’re good ones!
Putting money back into your home through remodeling to maintain a modern look and appeal is usually a wise investment, but the scenario has to make sense and you should never be over extending yourself if the line between income and expenses is getting extremely thin. There are, however, certain times when finding funding for your investment makes very good sense, especially when you have a good strategy on how your going to pay it back, maybe even quicker than its term. If you’ve been looking into alternate funding sources then here are a few for you to consider:
Or perhaps there is a particular job you don’t care for. (For us, that was painting – NOT our favorite). Thankfully that’s a fairly simple job to accomplish by asking our neighbors to recommend painters in Brisbane, or wherever you happen to reside!
But things like your foundation and roof are simply too important for you to tinker with, and dangerous home projects concerning tree removal or electrical work are best left to the pros. However, most homeowners only think about outsourcing those tasks or projects that concern large or integral home systems — when in reality, most homeowners should be searching for a cost guide and contacting third parties much more frequently to perform a wealth of jobs for home upkeep, repair and improvement.
Your job probably isn’t home management, so you shouldn’t be fussing over anything larger than small, day-to-day home maintenance. Here are signs that a certain job requires a professional handyman or some other service provider:
It Requires Special Skill
Some home projects require expertise obtained through education and extensive experience — and you probably don’t have that. Sure, you can use the web to hunt down thorough how-to articles and videos, but that 20-minute, self-guided instruction probably isn’t enough to prepare you adequately for the project ahead. If the resource you use skips any small step, you could severely damage your home or yourself, requiring higher costs for repair and negating any conceivable benefit of DIY.
I think the biggest renovation project we have coming up (and when I say coming up, I mean over the next few years!) is our floors.
When we purchased this house, the seller agreed to have new carpet installed upon his departure. Carpet, you say? With all the fabulous hard flooring options these days? Well, yes, carpet, because, at the time, we had two babies who were becoming VERY mobile, and we didn’t want them learning to walk and having nowhere to fall but on very hard wood and tile floors. We thought carpet was really the best option at the time. That was probably the right decision THEN…but nevertheless, within the next few years we’ll be installing wood floors throughout!
Embarking on a renovation project can be exciting, challenging, and rewarding all at the same time. However, there are several things that are a must on any good reno revitalization. The last thing you want is to get halfway through, or worse still, to the end, and realize you left something out. If you aren’t sure how to get the most out of your renovation project, then consider these simple tips.
Find ways to make the most of what you’ve got
One of the main reasons people take on renovation projects is a want to do more with what you’ve got. Unfortunately, sometimes what you’ve got isn’t much, so it is crucial to make the most of what you are working with. Sectional garage doors are a fantastic example of this.
As homeowners, many of us reach a point where we want to make some changes to the house. It could be renovation to upgrade some outdated or inefficient home features. You may need to add some extra space or just do some things to improve energy efficiency. We have a running list of things we want to do around our home, and today, as a matter of fact, our driveway is being finished with asphalt, so…CHECK!
Whatever you get into, it will cost you some money. For that reason, a lot of people put off home improvements until they reach a point where they are forced to take action. It is best not to let it get to that point; it’s much easier to make a repair when you need to than when you have to.
It’s essential that you start planning for improvements as soon as you get the home. It may sound overwhelming on the heels of closing costs and down payments, but it’s well worth it by saving you on interest and avoiding price increases.