Home improvement can add value to your house, and it can also make it more livable for you and your family. But it can be easy to go overboard on home improvements and end up spending more than your property is worth. That’s why it’s important to think about the big picture before you start any major renovation projects.
The good news is that many projects can be done without ransacking your savings or slapping on credit card debt. In fact, three-fourths of homeowners say they’re able to pay for the majority of home repair/improvement projects without having to scrounge up money or tap into their savings, according to a NerdWallet survey published in September.
A few low-cost home improvement ideas include painting, re-grouting tile, and power washing the exterior of your house. Putting in crown molding is another relatively inexpensive project that can add visual interest to rooms. You can buy pre-painted strips of molding at most home improvement stores, and the work is fairly simple.
Getting quality help with a major home remodeling project is essential, however. A quality contractor will be a great resource in helping you develop the right plan for your remodel and will make sure that it is completed in a timely manner and to your specifications. If you’re thinking about financing your remodel, look into your options carefully and be sure to factor in the monthly payment into your budget. A number of lenders offer mortgage refinance loans, home equity lines of credit, and contractor arranged financing.