Thursday, September 21, 2017

# finance # home

Best Ways To Fund Your Home Improvements



Whether you plan on installing a new kitchen, adding an extension, or simply want to decorate your home a little, there’s no avoiding the fact that there are things that you’re going to have to pay for.  Even if you keep to the tightest budget, there’s no guarantee that your salary is going to be able to cover, so rather than stress about how you're going to pay for bills and food use one of these great ways to fund your home improvements.


Your Savings
Whether you intend to redecorate your home, buy a new car, or start up a business, it’s always the most sensible idea to take money from your own savings. This is especially true with home improvements, as not only are you making your home a more pleasant place to live, you are making an investment. Repainting the walls won’t necessarily make your home any more expensive, but adding an extension or installing a new bathroom can add a large percentage of value to your home. Using your own money also means that you won't be putting yourself in debt before you even pick up a paintbrush.


Personal Loan
If you have major plans for your home, such as adding an extension or converting the loft, then you could be looking at spending tens of thousands of pounds. In this case, a personal loan is probably your best options. Unlike with a credit card, you won’t have to wait for a loan to be posted to you, in fact, the money should be deposited into your bank account within 24 hours. You also aren’t usually required to secure a personal loan against assists like your car or your house. However, interest rates for personal loans can get quite, so ensure you do your research to find the best deals.


Credit Card
There are lots of benefits to using credit cards to pay for your home improvements, for example, if your home is left unfinished because the company has gone bankrupt or is faulty in some way then you will be able to claim this money back from your card provider. As well as this, credit cards can provide further benefits, such as refunding you a small percentage of the money you have spent as cashback. Rewards credit cards allow you to earn points when you spend money which are then converted into vouchers, as well as loyalty points for supermarkets. For this reason, you may want to consider applying for a credit card regardless of whether or not you have any money saved. If you do have money saved, you can pay for your home improvements and reap the benefits of the card, and then simply pay off the balance of the card in full before you incur any interest. Different cards have different benefits, so be sure to check out best.creditcard to see reviews of lots of different ones.

Regardless of the kind of work you have completed, ensure you can always make repayments to avoid harming your credit rating or even having court action being brought against you. As well as this, if you do choose to have any renovation work done, be sure to inform your home insurance provider, otherwise, you could risk invalidating your insurance.




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