Home improvement involves renovations, repairs, additions, or exterior upgrades to your home. It can be done on a large scale or in a more manageable way. In the case of larger projects, you may want to consider getting a home equity loan.
A loan is secured by your home, meaning you can borrow up to 85% of the value of your house. While it’s not necessarily the best option for long-term projects, it can be a useful short-term solution for home improvements.
To make sure you get the most for your money, start with a detailed list of work you need. This will help you compare prices from different contractors and lock in firm prices.
Make sure the contractor you choose has a valid license. He or she should also be insured. Also, ensure that the contract includes the dates, materials, and quality of the work. The contract should also include a payment schedule.
If you aren’t sure what kind of contract you need, contact your local building codes office. They can give you a list of documents you need.
Alternatively, you can use a home improvement credit card for small projects like a paint job. Keep in mind that the APR for credit cards can vary, from 16% to 24%.
Alternatively, you can make a payment schedule. Some payment options include an initial down payment and incremental payments until the work is finished. You can also make a personal loan for larger projects.