Home Renovation. Thursday , October 11th , 2018 - 06:16:20 AM
Self-Financing - This option makes sense for smaller projects. It is also a feasible option for do-it-yourselfers on a pay-as-you-go (or pay-as-you-build) plan. Credit Cards - Charging large expenses to a credit card is an option, but not necessarily a good one. With their higher interest rates, credit cards have limited value in home renovation projects, and can be damaging to your financial health if there are unexpected cost overruns. (A do-it-yourself installation of a tub surround in your bathroom can turn expensive if your plumbing skills are not as honed as you would have liked them to be and you notice water dripping through your living room ceiling!)
Renovations to the bathroom, living room, and bedrooms of your house can also be simple or grand in scale. Bathrooms tend to be more costly to renovate because of the fixtures, but many hardware and plumbing supply stores frequently offer sales on past years' models of these fixtures. Also, like in the living room or bedroom, a quick coat of paint can completely revitalize your bathroom.
The concept of value engineering in renovation has never been more essential than it is today. At the start of 2009 we can still hear all sort of commotion about slow economy and troubles in the real estate market. All this should awaken renovators who are planning to increase the value of their homes, that a small miss-calculation or an over-renovation could easily destroy their profit or worse result in a complete loss.
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