How To Pay For a Large Home Improvement Project

by Chris Dawson on December 26, 2011

With the home market still sinking across the country, a lot of people are choosing to remodel their homes instead of moving out. Upgrading the house you live in is often much less expensive than trying to find a new one, but there are still some significant costs involved with many different larger home remodeling projects.

Many big home improvement projects are costly enough that it is challenging to save up all the money you need all at once. By the same token, home repairs have become much more involved and often entail completely changing a room rather than just putting up a little paint and moving around a few pieces of furniture. Here are three things you can do to you can make a home improvement more affordable:

Do A Little At A Time: When you upgrade a bathroom you’re really refinishing, replacing cabinets, putting in new fixtures and doing many little added things. Instead of putting out the full amount of cash all at one time, why not upgrade one aspect of your house each year so that the cost is spread out over multiple years. A lot of home improvement jobs are really a group of smaller projects all put together.

Hardware Store Credit Cards: If you’re able to buy all your materials from a store with a credit card you will probably be able to spread the expenses of the home improvement out over many months, making it appear much less costly. The better home improvement credit cards can often be used to pay for materials as well as services. Many home improvement stores such as Ace Hardware and Menard’s offer low interest rate credit cards with zero interest or zero payments for a limited period of time.

Do It Yourself: If you are really handy then you might be able to complete your entire home improvement project without hiring help and you could save thousands of dollars in labor expenses. Not everyone is a home improvement professional, but most homeowners can learn some basic home building and upgrading skills. Completing a home repair project on your own is a good way to build your confidence and save yourself a bunch of cash! Even tear down work can be completed on your own if you are cautious.

When it comes to upgrading your home, don’t forget that you only have to please yourself. Don’t be talked into paying more for a home repair than you feel comfortable. Most homeowners end up spending a lot of years in the same house, so taking your time with home improvements can really save you money and give you the chance to enjoy watching your home become your dream home!

These are just some of the many ways you can pay for home improvements. There are also lots of different options to change a home loan that may free up extra money for those home improvements.

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