Wednesday, 16 March 2011 7:22 PM
If it's high time your property had a makeover, something you'll need to give careful consideration to when planning any work is the various ways of financing home improvements.
Perhaps you've put off decorating for years or just enjoy refreshing your property from time to time - in which case you might be considering some DIY projects. If you're planning on altering your home drastically - perhaps you want to add an extension or convert your loft - you'll probably be thinking of employing some recommended tradesmen for these jobs.
Whatever you're planning, you'll want to make sure you cover all the ground when it comes to organising work to your home and leave no room for error. Financing home improvements can be a great way of enhancing your property if you're looking to create a nicer ambience at home or if you want to make your house more saleable.
To ensure the cash you use is money well spent, be sure to think carefully about what work you can do yourself, and what you will need to hire professionals such as builders, joiners or plumbers for.
Once you've worked out exactly what work needs doing, you can begin pricing up jobs. Checking DIY supply firms' websites can help you get an understanding of how much materials will cost if you're planning to do a spot of painting or wallpapering. When it comes to hiring workers to carry out a job, a sound way of figuring out costs could be to get quotes from a number of experts in their individual fields and compare prices and services.
If you want to make sure you employ reliable trades people, have a look online for recommended workers. Read reviews of the work carried out by contractors written by other customers to help you decide who would be right to help you with your home improvement project.
How you are going to fund renovating your home is an important consideration. Before you start booking in tradesmen you'll need to make sure you have the funds behind you to pay for their services. For big jobs, such as adding an extension to a building, some householders might consider borrowing money against the value of heir property. If you don't want to do this, you might instead want to dip into savings that you've been accruing in case of such an eventuality.
But if you'd rather leave the rainy day funds for some other cause, another option is to take out a loan. Provided your credit rating is good, you might want to approach a bank or building society and strike a deal that suits your pocket if you can afford to pay the interest that will build up on the amount borrowed.
Some companies specialise in home improvement loans, while some banks offer finance products tailored specifically for the purpose of renovating your property. If you're planning on overhauling your home with the desire to sell, however, many financial providers would recommend you get some sound advice before committing to any large projects. Draw up a costs list and chat with your local estate agents to find out how much people would be willing to pay for properties in your area to make sure the work you want to carry out will be worth it for your finances.
If you're not planning major work to your property, you might be tempted to opt for some DIY jobs. While this could save you money in the short term, it's wise to make sure the work is not specialised enough to warrant the aid of skilled and experienced tradesmen, otherwise you could find a botched job is costly in the long term.
Small tasks such as fitting a door lock or laying paving slabs may be carried out if you're confident enough you can do the job. You'll find tutorials online to help with all manner of DIY work, from laying wooden floors and fitting carpets to draught-proofing exterior doors, so see what you can find and decide how far your ability will stretch.
If you're uncertain you can complete a job, however, don't be tempted to save money by having a go anyway. Experience and qualifications will beat well-meaning willingness any day. You might be in a rush to get a job done, but waiting for someone with the right skill to complete the work is sure to pay off against haphazardly trying to erect a wall yourself to get the job done faster.