Home Improvement Tips
April 2021
There is always a part of our homes that we want to improve, but we all know how expensive home improvement can be. Here at Ascension Credit Union, we want to make sure that you get the most out of your money while you are improving your home.. Here are four tips to make the home improvement process easier.
Add Value
If you’re not sure where to start with home improvements, it can be helpful to prioritize projects that increase your home’s value. Updated kitchens and bathrooms are usually the most common first areas to start with, along with any renovations that increase square footage, like finished basements and decks. Buyer preferences vary from market to market, so be sure to focus on what’s popular and valuable where you live.
Time-Sensitive Projects First
Some home improvements are more urgent than others. If a project will save you money immediately or prevent devastating damage in the future, put it at the top of your priority list, especially for quick, easy fixes, like sealing drafts and replacing filters.
Increase Your DIY Knowledge
Everyone should know a few basic repair skills, and thanks to the internet, learning them has never been easier. If you can, start with a specific question: Is my garbage disposal broken or just clogged? Do I really need to clean my dishwasher filter?
If you’re more of a hands-on learner, try volunteering: You’ll learn new skills and help people at the same time. Many hardware stores offer free clinics on basic home repair and improvement skills, too, so be sure to check the offerings in your area.
Understanding Your Financing Options
Unfortunately, most home improvements do not pay for themselves. If you can’t afford to finance the project in full with cash, you should know the different ways you can finance your home improvement without putting your home at risk.
Personal loans and credit cards can be useful for small-to-medium projects, depending on the interest rate and terms, while home equity loans (HELs) and lines of credit (HELOCs) can help finance major renovations and repairs. Improvements that increase your home’s value can cut down on private mortgage insurance payments, but keep in mind you’ll have to pay to get your home reassessed on top of everything else.
Let Ascension Credit Union help you fulfill all of your home improvement dreams. Call today at (225) 621-2800 or visit our website at ascensioncu.org to see how we can help you finance all of your projects.
