Affording Home Improvement Projects / Our New Bathroom
Most of us like to keep our houses looking nice and are constantly working on making it the best it can be by renovating and decorating. We have just finished renovating our bathroom and it was a huge job that required us to replace pretty much everything from floorboards to ceiling.
It’s the biggest DIY project that my husband has done so far and it came with many challenges but we’re so pleased with the result now.
A huge part of home renovation projects is of course the cost. There are many different ways of improving your home and you can choose to do it all yourself or hire people to do it for you. The latter often costs more naturally, but will be faster and with less risk of costly mistakes.
My husband is luckily a very handy man with many skills that are ideal for DIY. He’s also very eager to learn and good at doing research to teach himself new skills. You can learn almost anything from YouTube these days! He decided to do everything except for the plastering himself so that saved us a lot of money but also meant the renovation took a lot of time as my husband also has a demanding full time job, a child and a pregnant wife.
We had saved up for this bathroom for quite some time before starting. We’d done this by putting some spare money in our joint savings account over the past couple of years and decided to do the work once we had saved up enough. It did take some time though and sometimes you need to be able to access money faster.
Equity release is one way to afford home improvements if you don’t have enough time or the resources to save up at the moment. This is a way of unlocking a proportion of the value, or equity, you have in your home in exchange for a tax free lump sum — without having to move. You can then spend the money on almost anything you want. Home improvement is actually the most common use for money generated through equity release.
It gives you the flexibility to release cash as and when you need it, giving you greater control of your finances and you will never owe more than the value of your home. Saga Equity Release Advice Service offer free advice on their services so you can easily find out if you are a good candidate.
Whichever way you choose, home improvement can add so much value to your home and your life. I’m so happy that we have a nice bathroom where my daughter can have fun playing in our big bath tub and where I can relax after a long day. It means so much to me!