Make The Most Out of Your Home Improvement Loan

Written by: Michael Thomas
06/21/2019

home-loan

So you have secured a home improvement loan and you are ready to get started working on your home. That is great news! But how are you going to make the most of your loan? Today, we are going to learn some tips that can help you get the most bang for your buck! The information below will help you save money and stretch your dollars out as far as possible.

Do Some of The Work

If you are handy, then you can save a lot of money on your home improvement project. Smaller jobs like painting or replacing wallpaper can be easily done by the homeowner. This will reduce the amount of labor you will have to contract out. Thus, stretching your loan out even further.

Shop Around

It’s easy to go with the first contractor you find, but it could be costing you a bundle. When searching for a good contractor with affordable rates, make sure you shop around. Interview at least five contractors in your area and get them to give you a quote. You might be shocked to see the difference in price from one contractor to another.

Look For Quality Combined With Affordability

When you are out shopping for your remodeling project, look for quality products that are also affordable. One of the best places that you can find items that are well-built but priced low is your local big box hardware store. They have some of the best selection of home hardware items that will make your home look amazing! Plus, many of the products you will find there will be designed by major companies like Kohler and American Standard.

Brighten Your Living Room With Paint

Never forget the power of a new paint job! A new color of paint can completely change the look of your living from for a fraction of the cost. Paint can transform a dull room into a vibrant living space that you can be proud of. The best part is you can do the job yourself and save even more money!

Clean Instead of Replace

When it comes to carpet, it might be tempting to rip it out and replace it with new flooring. But there just might be some life left in your old carpet. If your carpet is not extremely damaged, you just might be able to bring it back to life. A professional carpet cleaning company can come in and remove years of wear in just one day. For just a few hundred dollars or less, you can save a ton of money!

Functionality Over Size

The new trend these days is to go big. Many homeowners are remodeling their homes with large commercial sized kitchens. Unless you are a professional chef, who really needs a kitchen that big? Instead of going big, why not scale things back a little and strive for functionality? Having a kitchen that is more functional is not only practical, but it will make your life a lot easier. It will save you money as well.

Freshen Up Your Kitchen With New Hardware

A great way to get more bang for your buck in the kitchen is by replacing cabinet hardware. Instead of spending thousands of dollars on new kitchen cabinets, why not purchase a few hundred dollars worth of hardware? This can really liven up a kitchen and you can do the labor yourself saving you some serious cash. Before you attach the new hardware, you may want to consider painting or staining your cabinets to give them a fresh look.

Go With A Shower Curtain

When remodeling your bathrooms, why not save some money by choosing a shower curtain instead of shower glass. Shower glass can be very expensive and a glass shower door starts at around $1500! A shower curtain, on the other hand, can be purchased for $50 or less. This provides you with a huge amount of savings that you can use in other areas of the home.

Go Green

Installing LED lighting and other efficient products in your home will save you money over time. While you might have to spend a little more upfront, it will pay off in the end. For example, if you replace your old heating and air system with a new one, you can save big on your electric bill. Over time this savings will pay for the unit and then some.

Time Your Remodel

If you would like to get the most out of your home improvement loan, you should consider the timing of your project. During the month of January, prices of materials are much lower because of lack of demand. Also, contractors are in less of demand during this time of year, and you just might hire them at a lower rate.

Buy Floor Models

When looking for appliances for your kitchen, shop around for floor models. Often times floor models are offered at a discount. Floor models can be marked down as much as 20% or more. But before you purchase a floor model, make sure that it is still covered by the factory warranty. Also, keep an eye out for other building materials that are discounted. For example, you can pick up some really affordable paint when it is on sale.

Purchase Slightly Used Materials

Some charity shops like Habitat For Humanity sell slightly used materials and home hardware. These items are not new, but they will be new to you! Most of the products you will find at these shops come from homes that are being remodeled. Some of the products are barely used, and no one will know you are using recycled items.

As you can see, these tips can provide you with tons of savings. It will help you get the most out of your home improvement loan and your house will look amazing! So if you are going to start a remodeling project in the near future, make sure you use some of these tips. You will thank me if you do!


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