Home renovations add to the value and comfort of your house. While you might need an updated kitchen or new bathroom, how can you afford making the necessary changes without going broke? Let’s consider a few ways to get the home renovations you need without compromising your budget.
Saving For Your Home Renovation
If you have certain home remodeling that must be done, get an estimate of the costs from a licensed Atlanta contractor such as Glazer Construction. Establish a separate bank account, preferably interest-bearing with no fees. Use the account to save a little money every week toward your renovations. Even if you just put away $10 or $20 dollars every week, you’ll be on your way toward starting home renovations in just a few months.
Loans For Your Home Renovations
You can also borrow the money to make renovations, based on your credit standing. If you have good credit, consider a low-interest personal loan. Another option is refinancing your home to pay for renovations. Remember home equity loans are secured on your biggest asset – the house itself. Certain home loans are extended for the purpose of making renovations. Discuss loan possibilities with your current mortgage lender, banker or home contractor.
If you have bad credit, consider borrowing the money for the renovations from a family member, friend or associate. A lawyer can draw up the terms so the lender feels secure about repayment of money borrowed.
Get a zero or low interest credit card to pay for your home updates. Another way to avoid high interest fees is to pay the balance of the credit card every month as you make home renovations.
Cashing Out Savings For Remodeling Project
If you have CD, IRAs or other savings plans, you might want to cash them out to make home upgrades. Consider whether you’ll be leaving yourself “cash poor” before you use your savings for home renovations.
No matter how you choose to pay for home renovations, you reap the rewards. The value and comfortability of your home increases significantly thanks to home renovations done by the professionals at Glazer Construction.
We specialize in Atlanta home renovations. Contact Glazer Design and Construction at 404.683.9848, email Randy@GlazerConstruction.com or complete our Fast Form below.