Three steps to financially affording home improvement renovations

Home ownership is a remarkable achievement. As one of the biggest and most expensive investments that any given individual can ever make in their lifetime, it goes without saying that when this goal is finally achieved (if it is a goal of yours, of course), the feeling is unlike any other feeling in the world. One of the best parts about owning your own home is that you have complete creative control over what the home feels and looks like at all stages of you living in and owning the property. Sometimes, additions, omissions, and updates are necessary or even just wanted. And this is where the renovating process comes into play. Renovations can be either big or small, however ultimately all renovations are geared specifically towards adding comfort and value to the property itself. 

 

Regardless of the scope of intended renovations, the point is always the same. That point is that renovations are a fantastic way to significantly increase the comfort, convenience, efficiency, and overall value of your home. More than ever, renovations are becoming more and more of a priority for homeowners around the globe, as the current pandemic has forced individuals to stay at home for the most part (even if just temporarily). So, how do you know where to start? There are three key steps to financially affording home improvement renovations.

 

Create a budget to build on

 

Renovations do not have to be done all in one foul swoop. In fact, sometimes it is better all around to stagger these projects over a longer period of time. Ultimately, what it all comes down to is the finances that you have to get the renovations underway and completed. That all starts with creating a budget to build upon. This budget is going to be all about giving you complete creative control in realistic ways. Put aside a set amount each paycheck (sometimes add a little extra on top to the funds if you are able to and feel like doing so) so that you have dedicated funds that are geared towards the specific goal of renovating projects. Create an excel spreadsheet as this will make the entire process easier all around.

 

Do what you can yourself

 

One of the simplest yet most effective ways to save money during restorations in your home is to take on some of the work yourself. Rather than paying professionals a lot of money to take on the projects, you might be surprised how simple (even if they are time-consuming) some of the renovation projects that you have in mind are. Of course, sometimes it is easier and more effective all around to let professionals handle it (in these cases, prioritise the projects that you know you cannot do yourself). As well as saving some money throughout the process, you also gain a deeper sense of appreciation for the final product, knowing that your own blood, sweat, and tears went into bringing the project to life.

 

Invest extra into important features

And then of course there are the important features that you want to incorporate into your home the most but might be a little more expensive than others. Whether it is EcoTech windows and doors installing ducted air conditioning/heating split systems throughout the entire property, make it a point to put a little extra money towards these specific home renovation projects. This way, you are ensuring that you are putting in the hard work to bring your entire dream home to life around you.

David Jackson

David is a personal finance expert, a professional male model, and an entertainment writer.