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How to Use a Home Improvement Loan
Whether you plan on fixing a squeaking hinge or building an extension, the right home improvement can transform your standard of living. Sometimes, however, you can need a little help to start the ball rolling.
A home improvement loan can be a great way to cover the costs of the improvements, which - if done corectly - should pay the loan off by pushing up your property price.
Making the most of your loan:
- DDIY (Don't Do It Yourself)
Just because the self assembly bookshelf you made in the 80's is still in one piece, doesn't mean that you can plumb in your own gas central heating.
Many people's plans to create a lovely home are ruined by overambitious DIY efforts that have to be fixed by professionals, usually at more than it would have cost to get done properly in the first place.
Don't become another victim of the DIY bug; only carry out work if you are trained to do so.
- Plan ahead
Make sure you estimate all the costs your project is likely to incur. This should help you take out the right amount of money and be prepared for any glitches along the way.
Planning the work and associated costs should not only help you budget for the work and the repayments, but also help you recognise elements of your project that aren’t cost effective.
Things to watch out for:
- Rogue traders
Everyone has heard horror stories of being ripped off for shoddy workmanship that falls apart a few years down the line. Make sure you don't become another statistic!
Tips:
- Try and get at least 3 quotes before having any work carried out.
- See if you can get a friend or colleague to recommend someone they have used.
- Ask the company you choose for a reference (they will be more than happy to supply one if they are confident in their workmanship)
Similarly, retailers selling kitchens, bathrooms, conservatories, double glazing etc will often offer - what sound like - very promising finance options. They will, however, never beat a specialised home improvement loan lender. In reality, their typical APR will be nearly double what you can find if you shop around...
... Thankfully, that part is easy! Stay right here and check out our Home Improvement Loan Comparison Page to ensure you get the best deal for your home improvements.
Compare home improvement loans
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