What is Home Improvement?

Home improvement, also known as home renovation, is a broad term that encompasses projects that make improvements to an existing house. These may include repairs and maintenance work, garden and garage work, making a house bigger by adding rooms or spaces, as well as upgrading heating, ventilation and air conditioning (HVAC) systems.

Safety During a Home Improvement Project: When working on any home project it is important to be safe and avoid accidents. When carrying out electrical works or plumbing, it is important to be aware of any potential hazards and keep the area clean and dry at all times.

Affordability: Before you begin any home improvement project, it is a good idea to have a set budget for the project. This will help you determine how much money you will need to spend and how long it will take to complete the project.

Financing Options: There are several ways to pay for your home improvement project, including personal loans and home equity loans. You can choose the option that is best for your situation.

Personal Loans: If you have a good credit score, a personal loan might be a more affordable option for your home improvement project. However, these loans typically have higher interest rates than traditional home improvement financing.

Home Equity Loans: These loans are repaid over a 5-30 year period and can be used for many purposes, including paying off debt, college tuition, home renovations and medical expenses. The maximum amount you can borrow using a home equity loan is 85% of the value of your home.