A Personal finance blog to get rich
Previously we posted ways to get a new roof on a budget. Now let’s talk about redesigning or remodeling your home on a budget. How can you finance your home redesign on a budget?
We have been homeowners for the last 6 years. We are right now replacing our roof and in another couple of years, we will remodel our home. Remodeling not only makes the home better, but it can also increase the home value.
It;’s summer and here in south Florida, the constant barrage of rains started pouring in almost every day. And to our dreaded expectation, our roof started leaking again! We had leaks in 2016 and 2018. They charge $1,000 per the leak, to repair – on average. Fortunately this time the leak is over the back patio. We have some time to think about a new roof (our roof is 1992 built). We are thinking about different ways to finance our new roof.
We may be stating the obvious, but replacing your roof is an expensive endeavor. It can cost $15,000 or more, so paying for it out-of-pocket would simply not be an option for many homeowners. We live in a large single stories house, the roof replacement cost should run to more than $25,000.
Homeownership is one of life’s great milestones, and if you own your own home you have probably spent a long time thinking about the improvements you can make to your space.
One of the biggest hurdles to home improvement is cost, as some remodeling and redecorating work can cost thousands, putting home improvements out of reach for many families.
In an age of Youtube tutorials and cheap tools, no home improvement project is out of grasp for someone with a little time and patience. The first time isn’t always the cleanest or the quickest, but once you’ve finished a project, it gets easier and quicker every time. When we bought our home, I had to take help of one of my friends to learn the tricks of painting the walls. Now I am a master of the job and help out others.
Practicing by repairing the small issues around your home is a great way to prime yourself for bigger and more ambitious projects. If you’re just interested in adding value to your home, these small repairs will instantly provide perceived value for next to no investment.
When most people think of home improvements, all they can focus on is the money that it will take to make the necessary upgrades. Well, what if you were spending money now to save more in the future? Believe it or not, there are a number of home renovation projects that can actually help you to save quite a bit of money. If you are curious to learn about what these are, here are your top options
If you’re planning to sell your house, either now or in the future, it’s a good idea to invest in things that can increase the value of your home. These investments don’t need to be major because small investments done tastefully and thoughtfully can raise your home value.
Merely living in your home is just not enough. With the advent of latest technologies and gadgets for your aid, it has become necessary to upgrade your homes as well. Some spendings are really not spending, they are investments that can earn you money.
Technologies like a security camera, door motion sensors, etc. Are not cheap, they are rather recurring spends but, They ensure your safety. Life of your loved one is priceless. Some technology lets you save money, like digital thermostats.
Remodeling projects are notorious for going over budget. Nothing goes as planned, which means you start forking out more and more money, just to get it over with. Some families don’t even finish the projects they set out to do because they’ve gone so far over budget that the entire ordeal turns into a money pit they simply can no longer afford.
Do it yourself, home renovation and construction concept with DIY tools, hardware and swatches on wooden table, top view
After years of hard work, saving, and learning how to invest, I was finally ready to take the plunge. This wasn’t just any old remodel. My family and I planned to tear down our current home and rebuild it from scratch. One year, 4,000 square feet, 5 bedrooms, and 6 bathrooms later, I live to tell the story.
Can you imagine living in a house where everything is in place and easily at your disposal? In many ways, an organized house can be compared to a perfect house. With so many things piling up in our lives, the last thing we want to do is to play treasure hunt with a cell phone or car key. While organizing a home does not come easily to everyone, there are a few things you can do to declutter the space and step up to the game.
modern living room interior. 3d rendering design concept
Unless you have a walk-in closet, finding enough space to store your clothes, purses, accessories, and shoes can be a true challenge. Instead of hiding your shoes in the already overstocked closet, you can choose to proudly display your collection in the entryway. Whether you choose an elegant-looking cabinet or a witty Lazy Susan, you can always add a touch of design by showing off your prized art collection on the very top.
Being a new homeowner (About 14 months now), we already started planning for few possible renovation. The flooring, bathroom and kitchen renovation are listed. Although we don’t yet have a tentative time for all renovation targets, we started thinking about financing. We are prepaying our mortgage, and this is the first priority for us now. As you know apart from the mortgage, we are debt free. We would like to live debt free for rest of the life, so this push for the mortgage pre-payment.
All three renovation we planned for need large amount of money. This post is to help families with renovation needs who are thinking about financial aspects of the work.
