Saturday, 1 December 2018

The secrets of home improvements on a tight budget

Over the past 5 years, Britons have spent over £40 billion in home improvement projects only, in an attempt to transform a house into a home. As a rule of a thumb, 10% of homeowners who have chosen to go down the path of home remodelling and enhancements felt forced to do so to avoid the cost of moving out. However, this isn’t to say that home improvements come cheap. Far from it! Creating a homely space you love to live in is a permanent investment, that affects the decor of your home – and how you feel about it – but, more importantly, that dramatically damages your finances. When you’re managing your household on a tight budget, the sole idea of home improvements can become a financial headache. 

Can you do it yourself?
With one in three Brits lacking basic DIY skills, the idea of embarking on a home enhancement project by yourself can be daunting. However, DIY is not a delicate art. It’s a skill you can learn. Consequently, you can find local courses to get started with the basic requirements. You could save tonnes of money by learning how to hang wallpaper correctly or how to cut ceramic tiles, for instance. You can also add plumbing skills to keep your cost low next time you’re planning to remodel the bathroom – however, for complex tasks such as changing a boiler, you need a qualified plumber on the job. 

Financing emergency costs
Admittedly, DIY skills can only help you so much. Legally, you are not allowed to tackle dangerous plumbing or electric jobs in the house. Additionally, when something needs urgent and professional repair – such as a damaged roof or a broken window – you can’t expect a homemade approach to sort it out. For these projects, you need an expert. If you’ve got no emergency savings, you might be forced to borrow from a lender with a quick turnaround, such as Now Loans, which can get you the money you need on the next working day. To avoid emergency costs at home, it’s best to keep a strict maintenance schedule. 

Financing non-emergency projects
Thankfully, not all home improvement projects need to be tackled immediately. If you’re planning to remodel the kitchen or to have an extension in the lounge, you can self-finance your project. Set a savings goal, such as raising £5,000 by the end of next year, and you can work towards it through a combination of saving accounts, side hustle income and frugal lifestyle. You can also find governmental grants for specific improvement projects, which can make it easier to plan for extensive enhancements. 

When all the improvement you need is in the decor
Last, but not least, the main reason for home improvement projects is to make a house a home. Contrary to the common belief, you don’t need to start a long and expensive project to fall in love with your interior again. You can transform your home with cheap and easy decor ideas. Decluttering your room, adding houseplants, or changing the light fixture are unlikely to break the bank. But they can significantly improve your rooms! 

A tight budget for improvements forces you to get creative in your home. From looking at different ways to finance your projects to learning how to do it yourself, short of money doesn’t mean short of ideas!

This is a contributed post that may contain affiliate links.



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