Ways to Finance Your Dream Home Improvement Project

People are constantly looking for ways to improve their homes, but the shocking thing that makes many of them to pull back is the amount of money that they have to spend doing so. Upgrading an average kitchen would cost at least $20,000, while a bathroom could cost up to $9,000. This information is according to homeadvisor.com, and that is a cost that the ordinary person just can’t afford out of the pocket in these hard times. Many people therefore end up keeping on postponing the home improvements, and before they know it, they are too old. The problem is that life has also taken a fast lane, and having lose money is not easy. People have to look after their kids, plan for their college education, cover their medical insurance and a host of other commitments. That is why in this article, we are going to look at the different ways to finance you’re dream home improvement project. Please note that these are just some of the ways, and there are many more ways to finance depending on a person’s particular situation.

Ways to Finance Your Dream Home Improvement Project

Obtain a home equity line of credit

You can consider taking a home equity line of credit against the value of the home although it doesn’t clear the original mortgage. With this, a person receives a line of credit according to the value of their home, normally up to 80% of the value. They will have a draw and repayment period, and the draw period can go up to ten years. The interest that is paid on the home equity line of credit is tax deductible, just like with mortgages, only that it is limited to $100,000.

Take out a second home loan

Also known as a home equity loan, this is a great method for one to get into their equity without refinancing. They will instead receive a line of credit in a lump sum of money. This second home loan makes perfect sense if one does not want to refinance their first mortgage. In this case, the interest rates can be deducted tax.

Apply for a personal loan

Refinance offers more tax advantages than personal loans, but they are still an alternative method of financing your home improvements. One may need to put up collateral, and in this case they can use their home. If one has a good credit history, there might not be the need for collateral to qualify. Personal loans come with higher interest rates as compared to home equity financing, and the timeframe to repay the money is also shorter. This means that the longer the window period, the les the money paid back monthly, but the higher the interest rate.

Use a credit card

You can use your credit card to pay, but note that they come with higher interest rates than the other financing methods. You can also take advantage of cards that offer rewards for the money spent with them.

Save and pay cash

This one could take time, but it is also the best way for one to stay within their budget.

Credit Car Loans

Are you having problems with bad credit car loans? You might want to consider checking with Drive Thru Finance. It is one of the companies that can help you sort your bad credit when you’re looking for finance to buy a new car. Keep an eye on their website for more information regarding their services.

Conclusion

Cars, just like dream homes, need financing, and you need to have access to money in order to purchase them and to maintain them. You can use loans, savings or credit cards to finance them.

How to Choose the Right Saw for Your Home Improvement Project

With the wide variety of saw options available in your neighborhood hardware store, making sure you are choosing the right saw for the job can be a challenge.  Depending on what you goal is for the particular cut, having the right saw can be critical.  If you are completing a home improvement project and you are not certain which saw is best, consider the following pieces of information to help guide your decision.

How to Choose the Right Saw for Your Home Improvement Project

The Kind of Cut

The first consideration should include the kind of cut you will be making.  For example, the tool that is most appropriate for a straight cut may not be capable of making a curved cut.  In cases where a straight cut is the goal, a table saw may be the best option.  Circular saws and chop saws can also provide straight cuts, while miter saws can be ideal for cutting angles.  The best portable bandsaw you can afford may be the ideal solution when you are looking to re-saw lumber as the thinness of the blade limits the amount of wood waste that is created through the cutting process.  A band-saw is also appropriate for cutting curves as needed.

The Material Being Cut

It is important to note that not all materials should be treated the same way when you are looking to cut them.  For example, while a piece of wood can be cut in a variety of ways with limited restrictions, working with glass, tile or metal will require specialty equipment.  Not only as there certain saw blades designed to better handle these materials, it may also require the use of a wet saw to help keep the surface temperature of the tile or glass down while also controlling the amount of dust that ends up in the air.

The Accuracy Required

If you are only looking to cut something simple, like chopping up fire wood, using a woodshop saw is generally unnecessary.  In a case like that, a simple axe, handsaw, or chainsaw is likely all that would be required.  In contrast, when cutting the angles in crown modeling for corners, accuracy is much more important.  Similarly, a jigsaw or scroll saw can help make very controlled cuts even when you must change direction as the cut progresses.

Acquiring Tools

While not everyone has the option of having every tool available at their disposal, taking the time to understand which options are best for your project can help you determine if you need to add a piece of equipment before you begin.  If you are going to be doing a particular project over the long-term, or anticipate needing a similar function for future projects, it may be wise to invest in your own piece of equipment.  This allows you to have it at your disposal whenever it is required, and can be cheaper than repeatedly renting the same tools over and over.

In contrast, if you only anticipate needing a particular tool for a few days, it may be more cost effective to rent one from your local hardware or tool rental store.  This can give you access to high quality tools without having to commit to purchasing one for a short-term need.  Even if you do rent equipment, you may be responsible for purchasing your own saw blades, especially when a particular tool can be used on multiple materials with a simple blade change.

Take Your Toolbox to the Next Level

If you are serious about home improvement, you will often need to invest in tools beyond the basics.  Once you have acquired a quality hammer, a basic set of wrenches, saws of all shapes and sizes, and a sufficient number of screwdrivers, consider adding these items to make your do-it-yourself home improvement projects the envy of the neighborhood.

A Portable Workbench

Avid DIY enthusiasts know how much time can be wasted moving between a garage-based work area and the place where the improvement is actually being made in the home.  In order to shorten the time spent moving between the locations, and thereby shortening the time needed for the entire project, consider adding a quality portable workbench.  These workbenches are lightweight enough to be easily moved throughout the home while still providing the strength and support required to get the job done.  As a bonus, many portable workbenches can be folded up for easy storage inside or outside of the home.

Take Your Toolbox to the Next Level

A Cordless Impact Wrench

Cordless impact wrenches provide the muscle necessary to handle the kinds of jobs a standard wrench just can’t handle.  Whether it is a nut that was previously overtightened, has rusted up, or has been stripped to the point that a regular wrench cannot generate the power needed without slipping, an impact wrench can apply the force necessary to turn any nut or bolt you may need undone.  By sticking with a cordless version, you have all of the power you need without having to factor in the availability of a plug.

A Lighted Screwdriver

While standard screwdrivers are fine for most jobs, sometimes you have to work in darker spaces, making it difficult to see whether you have the screwdriver properly aligned with the screw you are trying to undo.  In these cases, a lighted screwdriver provides the light you need, right where you need it, without having to try and hold a secondary flashlight.  Additionally, a lighted screwdriver can be seen as preferable over a headlamp since the light on the screwdriver is always directed exactly where you need it to be, even in spaces that do not allow you to orient a headlamp correctly in the space.

When investing in a lighted screwdriver, be sure and find one with multiple, interchangeable heads.  This will allow you to remove more types of screws without having to purchase multiple tools.

A Calculator

Many homeowners who take on DIY home improvements neglect to purchase a calculator for the tasks.  Whether this is due to the fact that they feel confident in their ability to perform the necessary calculations in their head, or on paper, or have a calculator available on their smartphone, it is often wise to acquire a separate calculator just for home improvement purposes.

On reason is that not all home improvement activities will make using your smartphone wise.  For example, if you are dealing with paint, high amounts of moisture or dust, or extreme heat, it may not be the best environment for a smartphone.  Even if there is just a risk the smartphone will be hit by a heavy work tool, having an alternative may be wise.  Additionally, calculators can be purchased with larger buttons and do not require you to remove your work gloves in order to operate it correctly.

For those who generally rely on mental power to perform calculations, it is still advisable to have a calculator available for those instances where precision is critical.  That way, you can check your math against the calculators output, helping to ensure everything will come out as you desired.