Is Your Kitchen In Need of a Remodel? How You Can Pay for the Renovations
Cooking for a family can of course be a wonderful and rewarding experience as you watch your little ones devour all your hard work, but with so much food preparation, cooking, and eating done in the kitchen it can really take a toll in terms of wear and tear. For homeowners the kitchen tends to be the room that is the biggest bone of contention, and one that many want to remodel, renovate, and update.
The problem is that a kitchen remodel isn’t exactly cheap in fact it can be the most expensive room in the whole house to remodel. So how exactly can you afford the renovations and create a space that is more modern, functional, and inviting to be in? Not to worry as we’ve got you covered with a variety of tips you can use that will help you finance the project.
Start with a Remodel Quote First
It’s pretty hard to know how much money you need to come up with if you don’t have a quote. Whether you plan on doing all the work yourself, or hiring a contractor you’ll need to get an estimate of how much things will cost. This will require you drawing up a plan for the remodel, listing all your needs and wants – in other words a wish list. Once you have a solid price for the remodel, then it will be easier to figure out how you plan to pay for it.
Create a Savings Plan
If you don’t mind waiting for a while you can always start a savings plan. Now that you know how much the work will cost, you can figure out how much you need to put away each month, and how long it will take to save up. Of course not everyone is willing to wait until they have the cash up-front.
Get a Credit Limit Increase on Your Credit Card
Perhaps you have the majority of the money needed, or maybe the project isn’t going to be extremely expensive. If that’s the case a credit limit increase on your credit card could be enough to cover the cost. Keep in mind this is only wise if you plan on paying it off in a relatively short period of time. The interest on credit cards is extremely high so you don’t want to carry a balance for long.
Apply for a Loan
There is also the option of applying for a loan. This is ideal for those who don’t want to wait on getting the project done, but it’s a lot more money than they have available. With a loan you’ll be paying it back in monthly instalments over a set period of time. For those who have never applied for a loan before, you may be asking "do I need a job" in order to be approved. BingoLoans can be a great one to look into for those who are residents of the UK and over the age of 18. As far as a job goes, you need to have permanent employment or receiving various allowances.
Make that Remodel a Reality
Each of these tips can help you to finance your remodel so that you can start enjoying the kitchen of your dreams.