It’s one of life’s great truisms; that the housework is never done. And as an extension of that, it seems like there’s always one more home improvement to make before things shift from ‘boring house’ to ‘dream home’. Money, of course, tends to be the biggest obstacle. And unless you have Kevin McCloud on speed dial, willing to dispense the tips, then you’re going to have to get creative with how you both imagine and fund the project. Here’s how to deal with the latter; our 4 IDEAL ways to fund home improvements fast.

JOB SPECIFIC FINANCE

A practical way to fund home improvements is to focus on single jobs, funding them individually, to help you budget proportionally and steadily. Should you be focusing on your windows first, for instance, then professional services such as Double Glazing Funding can assist with the financing for that particular part of the house. Double glazed windows and doors serve to make the home more energy-efficient, in effect making it a budget friendly investment in the long run, too. Apply the same process to other areas of the house; once the windows are done, then recalculate your budget to see if you have enough for the bathroom. And on it goes.

UNDERSTAND LOAN LINGO & OPTIONS AVAILABLE

When it comes to funding your home renovation, there are lots of loan options out there. Unless you’re an accountant or loan advisor, getting your head around all the different types of finance available to you can be a massive headache. 

For one, there’s bridging loans and bridging finance; usually a short-term loan which can ‘bridge’ the gap when you don’t have quite enough funding and are looking for more. Then there are personal loans which, for instance, can offer the chance to borrow up to £15,000 over five years and have a fixed repayment period. These loans, however, tend to be unsecured which means that the interest might be a little higher to mitigate the bank’s risk. What’s more, there are even loans specifically for home improvement and you could even consider an over-extended overdraft facility or credit card option. Get in touch with an advisor at your bank for a more thorough breakdown; just be aware that they may have ulterior motives in recommending certain courses of action. 

BUILDING MATERIAL KNOW HOW

Bricks’n’mortar. It’s a metaphorical term to suggest a tangible base; something real, conventional and non-digitised. It’s also likely the costliest part of your build. In the UK, homes are often made with brick but there are plenty of other materials involved, some of which may well work out cheaper. While the outer wall might be created with bricks, for instance, your retaining wall could be built with precast concrete to lower costs. It’s vital that you research the benefits of each building material prior to drawing up your budget, let alone actually laying some foundations. Safety and durability are crucial here.

LIVE FRUGALLY AND SAVE 

During your renovation, no doubt you’ll be up to your eyeballs in spreadsheets, paperwork and invoices, worrying about all those inevitable funding issues. We hate to say it, but now is not the time to live the high life, retreat to the Caribbean or indulge in some retail therapy to take your mind off things. Best to hunker down, hold tight and delay the gratification until your domestic space is functioning to its full potential.

Should you be looking for more budget friendly tips for sprucing up your home, read our article on that very topic over here.

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