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3 Ways to Pay For Your Home Improvement Project

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This post may contain affiliate links. FinanceSuperhero only recommends products which help Restore Order to the World of Finance.

This post, “3 Ways to Pay For Your Home Improvement Project, was written by Dan and June, the founders of Dinks.co, a blog highlighting their journey as a “dual income, no kids” couple.

There comes a time in the life of every homeowner in which it is time to tackle a major home improvement project. For us, that time came this past fall when we had to install new windows throughout our house.

The cost of this project was steep (new window installation cost averages over $5,000), leaving us with the question of how exactly we would pay for it. As a younger married couple, we have other debt obligations, such as our mortgage and student loans. We have an emergency savings fund, but it isn’t enough to cover a $5,000 project.

But we didn’t have much of an option to delay this project; our existing windows were old and leaking air. They were inefficient in terms of energy and were costing us a bundle in heating and cooling bills.

We knew that we would recoup the cost of the windows over the long-term in energy savings. We also knew that the overall value of our home would increase by installing new windows, as the existing windows weren’t just drafty — they were unattractive. So despite it putting us in a financial pinch, we knew that we would have to come up with a way of paying for the project.

Related Reading:

Five Home Improvement Projects That Just Aren’t Worth It

3 Smart Options to Pay for Your Home Improvement Project

While it would have been ideal, paying cash for our new windows simply was not an option, so we needed to find a credit solution. With the bulk of our monthly budget devoted to mortgage, student loan, bill payments, and retirement savings, we had several alternatives to cash for our window project: a home equity line of credit, a personal loan, or a credit card.

Ultimately, we had to pick one form of credit over another with our financial health in mind.

1. Take Out a Home Equity Line of Credit

What is a home equity line of credit?

A home equity line of credit allows a homeowner to borrow money against the value of his or her home. In essence, you are taking out a loan against the part of the house that you have already paid off — the equity. A home equity line of credit is secured by the house itself as collateral.

Unlike other types of loans, the entire home equity loan amount is not advanced once the loan is granted. Instead, the borrower can take out sums from the line of credit up to the credit limit during the term of the loan.

Repayment is usually required on a monthly basis, with the full amount borrowed due at the end of the loan period. Home equity lines of credit usually have variable interest rates, which can sometimes be a great advantage to borrowers.

Examining this option for our situation

For us, a home equity line of credit would mean tapping into the equity that we have established in our house in order to improve our home. It could make sense as a way to improve our house, provided that we qualify.

Yet it could also be a bit worrisome — leveraging equity isn’t without risk, and agreeing to a variable interest rate loan is always a bit of an unknown.

2. Take Out a Personal Loan

Personal loans are loans offered by banks, credit unions, and other financial institutions that can be used for almost any reason, including home improvement projects. They can be secured by collateral or unsecured, and secured loans typically offer lower interest rates.

Personal loans are repaid on an installment basis, with principal payments plus interest due each month. The interest rates for personal loans are based on the borrower’s credit history and whether the loan is secured or unsecured.

Examining this option for our situation

A personal loan appealed to us, as we already are used to making monthly payments on student loans, our mortgage, and car payments. If we could qualify for a good interest rate, it could be a straightforward way to obtain a relatively small amount of funds at a fairly low interest rate.

3. Opening Up a New Credit Card

A credit card can be used for most purchases, including to pay for your home improvement project. Opening up a new credit card with a low interest rate or that offers perks such as travel rewards could be a great idea for a home improvement project, as it can be a way to get credit for a relatively low interest rate (possibly 0 percent for a short-term) or with good benefits (such as free travel) as long as you are able to pay off the balance before the interest rate rises.

Examining this option for our situation

Using a credit card to pay for our windows made sense in a lot of ways, especially if we could get a card with a 0 percent introductory annual percentage rate (APR) or one that offered a lot of benefits for using it. After all, it could be a really nice bonus to getting new windows if we also got to go on a vacation as a result of having home improvement work done.

However, we did worry that we wouldn’t be able to pay off the balance on time. Also, we had concerns that having credit card debt could sink us financially.

Why We Chose a Personal Loan to Pay for Our Project

Ultimately, we chose to take out a personal loan to pay for our new windows. For us, a personal loan made the most sense both as a financial matter and as a personal matter. We are accustomed to making monthly payments, and adding another would not be overwhelming to us; in fact, we could easily manage that payment.

We also thought that it seemed appropriate to get a personal loan for a relatively small amount like $5,000 for this home improvement project, rather than dipping into the equity on our home through a home equity line of credit. In the future, we may need to take out a line of credit on our home for a bigger project, but for a fairly small amount of money, we didn’t think that it was necessary to do so.

Finally, we were also wary of taking on revolving debt through a credit card. Even if we qualified for a low or no interest card, there was still the possibility that we wouldn’t pay off the debt before the introductory period was over — leaving us on the hook for a balance with a significant interest rate of 15 percent or higher.

And while the idea of rewards is enticing, we know that it isn’t worth getting into credit card debt for a trip.

The Benefits of Using a Personal Loan to Pay For Your Home Improvement Project

Looking back, paying for our home improvement project with a personal loan has been a good choice for us. Not only have we enjoyed lower energy costs this year, but we have taken advantage of a relatively low cost financing option that has allowed us to enhance our house and improve its efficiency.

Source

https://www.financesuperhero.com/3-ways-pay-for-your-home-improvement-project/

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Portland Trail Blazers: Offense key to team’s home improvement

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The Portland Trail Blazers have made a huge turnaround in home games since Christmas. What has been the key to their success?

The Portland Trail Blazers are gearing up to play the New York Knicks Tuesday night at Moda Center. They do so after pulling off a comeback victory over the Los Angeles Lakers the night before.

Portland picked up its seventh consecutive victory by beating L.A., extending their longest winning stretch of the season. Obviously, they want to prolong that run on Tuesday, but they also enter the Knicks game maintaining another impressive streak.

The Trail Blazers have won 13 of their last 14 home games. This streak began on Dec. 28 with a 114-110 win over the Philadelphia 76ers. Oddly enough, the Blazers and Sixers are tied with the Minnesota Timberwolves for the best home record in the NBA since that date.

Rip City’s fortunes come after starting the season 7-10 at home. That contrasted with the 9-6 road record they had over the same span. This period included a 104-103 loss to the Los Angeles Clippers that was settled by a Blake Griffingame-winner and a 99-85 defeat against the Toronto Raptors that saw them score a franchise-low six points in the second quarter.

The roughest part of that stretch started at the end of November. The Blazers reeled off six straight home losses from Nov. 30 through Dec. 22. This includes going 0-4 on a four-game home-stand, losing by 10 points per game. The slump culminated with a 102-85 loss to the Denver Nuggets. The Sixers game followed six days later.

Basically, offensive improvement has been the key to Portland’s turnaround at home. Their net rating between stints indicates that. The Blazers had a -2.3 net rating in their first 17 home games, 22nd-best in the NBA over that span. Specifically, they scored 102.1 points per 100 possessions while allowing 104.4.

Since then, the Blazers are sporting a +7.9 net rating at home, sixth-best in the league. Their offense has spiked up to 112.7 points per 100 possessions. Meanwhile their defense has held steady, allowing 104.8 points per 100 possessions.

Rip City’s field goal percentage jumped from 44.1 percent in their first 17 home games (25th in the NBA) to 48.2 percent over their last 14 (eighth in the NBA). Pat Connaughton has seen the biggest bump in shooting at home, improving 10.7 percent between stints. However, NBA teams go as the star does. Damian Lillard‘s improvement was the biggest driver behind the Blazers’ turnaround at home.

Lillard struggled mightily with his shooting early in the home schedule. Appearing in 16 of the first 17 home games, he shot 40.8 percent from the field and 33.6 percent from beyond the arc. Those struggles rattled Blazers Nation, leaving some to speculate his new diet was the source of his problems.

Luckily, those concerns have become a thing of the past. Lillard has appeared in 12 of the last 14 home games, including the last 11. He is shooting 46.7 percent from the field and 39.0 percent from 3-point range over that span.

His jump shooting has been the difference. Lillard made only 35.3 percent of his jumpers in his first 16 home games, but has made 43.1 percent of them in his last 12. As a result, Lillard has scored 30 points or more six times in his last 12 home games. That includes a 44-point outburst in a huge 123-117 win on national television over the Golden State Warriors.

The Knicks game kicks off a five-game homestand and a span of seven home dates in eight games. After Tuesday though, some of the league’s elite will test the Blazers’ home prowess over the next two weeks.

After New York, Portland has a rematch with the Warriors on March 9. That will be followed by the games against the Miami Heat, Cleveland Cavaliers and Detroit Pistons. Following a quick visit to the Clippers, Portland will then host the Houston Rockets and end with the Boston Celtics on March 23.

The Portland Trail Blazers have turned things around on offense over the course of the season. As a result, they’ve sent plenty of their fans home happy by going 13-1 over their last 14 home games. However, six of their next seven home games will be major tests against playoff contenders. With the way the Blazers have played lately, they are certainly up for the challenge.

Source

https://hoopshabit.com/2018/03/06/portland-trail-blazers-offense-key-teams-home-improvement/

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Extraordinary Modern Luxury Kitchen With Granite Countertop Latest Kitchen Renovation Ideas with 120 Custom Luxury Modern Kitchen Designs Home Epiphany – Interior Design

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Modern Luxury Kitchen With Granite Countertop

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Tim Allen Says He Is “Very Interested” In a Home Improvement Reboot

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We’re now at the point where it’s actually hard to name a beloved 1990s TV series that isn’t getting a revival, but Home Improvement hasn’t appeared on the ever-growing list of shows getting a reboot—but now that might be about to change, since star Tim Allen just confirmed he’s very much on board for a revival.

Asked by ETon Sunday whether the original cast would consider coming back for a reboot, Allen teased: “I can’t say everybody, but it has been floated. And more [cast members] than I would have expected said, ‘Yeah, that would be cool to do it years later,’ like Roseanne.””

Allen also admitted that he’s still mourning the premature end of his cancelled ABC sitcom Last Man Standing, which ended in March after six seasons. It was decision that prompted backlash among viewers, who accused the network of ending the show because of Allen’s conservative politics (ABC has denied this). “We didn’t get our seventh year,” Allen said. “I adored that show. It’s like having a new dog and now to go back to the old dog? I don’t know. I like both characters, but yeah, I’d be very interested in that idea.”

Allen played the lead role of Tim “The Toolman” Taylor on Home Improvement, the TGIF sitcom that originally ran for eight seasons from 1991 to 1999. The rest of the cast included Patricia Richardson, Zachery Ty Bryan, Jonathan Taylor Thomas, Taran Noah Smith, Richard Karn, Debbe Dunning, and the late Earl Hindman.

While an official revival is still yet to be confirmed, Allen has stayed in touch with several of his former cast members over the years, and even reunited with co-stars Richardson and Thomas—his on-screen wife and son—when they appeared on separate episodes of Last Man Standing.

Source

http://countryliving.com/life/entertainment/a19134082/tim-allen-home-improvement-reboot/

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Decorating Inspiration From Young House Love’s Kitchen Renovation

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Photo by: David A. Land

Some homeowners race to renovate before move-in day. Not Sherry and John Petersik. After buying their early-’80s Colonial in Richmond, VA, the couple behind the popular blog Young House Love (and the authors of ) took their time making improvements — three years, to be exact. “If you renovate a kitchen before you’ve lived with it, you may miss out on a game-changing idea,” says Sherry. For them, that biggie was overhauling the floor plan. The original cooking space couldn’t accommodate more than one person at a time. “It was like bumper cars in there,” says Sherry. Temporary cosmetic upgrades — painting the cabinets, losing the wallpaper, resurfacing the laminate counters — made the dated room more bearable while they strategized a gut reno. This is what they learned along the way.

Photo by: David A. Land

1. Measure everything! Pendant lengths, how far the dishwasher door extends when open, you name it. That bit of effort saves lots of time. The first set of barstools the Petersiks ordered were counter-height…except for the armrests that didn’t fit under the island’s top. Oops! These new weathered wood ones are from World Market.

2. Use painter’s tape to figure out pulls. When the couple couldn’t decide what size pulls to put on the lower cabinets, they reached for painter’s tape to visualize different lengths. (The winner: 7 ¾-inch polished-nickel pulls by Atlas.) They bought knobs in the same finish for the uppers.

3. Choose a backsplash you’ll like for a long time. At first the Petersiks considered a glossy veined marble tile to match the island’s veined quartz countertop. “But it was a little trendy and we worried we’d get over it,” says Sherry. Instead they went for timeless tumbled-marble 3-inch-by-6-inch subway tiles from The Tile Shop.

4. Decide which splurges are worth it. A key question to ask yourself: Will you get a big return on the cost in practicality — or joy? In Sherry and John’s case, they scored both by installing smaller windows so they could fit lower cabinets along the wall. The matte gray quartz counters were another good investment.

5. Accept that some ideas won’t fly. Sherry and John were gung ho for new white upper cabinets and oak lower ones. They tested out the two-tone look by first painting the existing uppers white. “We immediately realized it would still be too much wood once the hardwood floors were installed,” says Sherry.

Photo by: David A. Land

6. Kitchen desks: good in concept, not in reality. The old kitchen had a desk area the Petersiks lived with for a while, to their dismay. “Between the kids’ schoolwork, party invitations, shopping bags and everything that got dropped there, it was hard to keep it tidy,” says Sherry. They scrapped it during the reno for cabinets that store vases, candleholders and trays…and now put paperwork in the office.

7. A little open shelving goes a long way. “A couple rows break up the boxiness of cabinetry and show off pretty pieces,” says Sherry. She made planks of reclaimed pine look weathered by soaking a steel wool pad in vinegar for a full day, dipping a rag in the brew, and rubbing it on. The polished-nickel brackets are from Rejuvenation.

8. Realize that stuff can grow on you. The oak floors on the first level had a lighter finish “than we ever would have gone for,” says Sherry. “But the longer we lived here, the more we realized how well it hides dust and crumbs.” After installing new wood floors from Howdyshell Flooring in the kitchen, they had the existing floors in the other rooms sanded, then stained them all Provincial by Minwax for consistency.

Photo by: David A. Land

9. More isn’t always better. John and Sherry were tempted to upgrade the range to six or eight burners. “Then we realized we didn’t even use the five burners we had!” says Sherry. Moral of the story: “Avoid cramming in features you don’t need.” A slimmer stove meant a slimmer hood — and more upper-cabinet storage.

10. Keeping dishes in drawers is life-changing. As the resident dishwasher unloader, John is passionate about this idea — one he swiped from his sister’s house. Now he can grab clean bowls and plates and put them away without having to bend down and reach up. “It’s so much easier,” he says, “and our oldest kid can help!”

Source

http://www.hgtv.com/design/rooms/kitchens/10-lessons-from-a–young-house-love–kitchen-reno

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Beadboard Bathroom Renovation – Before After

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This bathroom has a lot of charming quirks, but upon further inspection, we’ll see that it’s falling apart at the seams a bit. Fortunately, a thoughtful design company is about to help this little room be its very best self.

Before we ogle the bathroom now, let’s let Courtney and John Achilli of Content + Company describe their process:

Not every renovation is a total overhaul. When walls are structurally sound, the plumbing works where it is and the layout is functional, sometimes all a space needs is a refresh. That was the case with our client, Susan and Carl’s, guest bathroom. Don’t get me wrong. The before pictures are pretty rough, but the bones of this bathroom were great and just needed some TLC.

Now, onto the prettiness!

I’m so glad they were able to save that graceful pedestal sink! In tiny bathrooms, pedestal sinks can be a liability, as they eliminate precious under-sink storage space, but in this bathroom, there’s plenty of room for stashing things elsewhere. This sweet little cupboard is perfect, allowing for both hidden storage (cleaning products, perhaps) and an organized display of items that guests would need access to: extra toilet paper and towels, and so on.

Eliminating the pink tile unifies this little nook, and the addition of wainscoting makes up for the loss of texture the tile provided. As a bonus, the mirror fits in so much more comfortably than the previous one did (the way the older one overlapped the tile stressed me out!).

I love when submissions include information about the exact circumstances that led to renovation decisions, especially since everything can look fine in photos:

The client was nostalgic about the pink wall tile, but ready to see it go! The bathroom, overall, was pretty grimy: the linoleum tile was lifting, the walls had been opened previously to access a leak and the bath fitter had exceeded its lifespan. The client wanted to make the space more inviting.

In this case, it’s perfectly clear that the flooring and walls are on their last legs!

This is such an improvement. All of the surfaces are now, clean, fresh, solid, and sealed; while many renovations are about dream tiles and the perfect sconces, never underestimate how exciting it can be to have floors and walls that actually function as floors as walls.

This shower lining looks like it’s in decent shape—though shower linings are never particularly fabulous—but its connection to the tub is definitely questionable. It was replaced; here’s all of the work that was done:

This renovation took us about 1.5 months and cost the client approx. $4,000 (all in). Content + Company was hired to install:

  • Pergo floors: Pergo XP in Rustic Espresso Oak
  • Subway tile bath enclosure
  • New solid wood doors
  • Trim, including a wainscoting towel hook accent
  • Lighting fixtures
  • Radiator cover
  • Plumbing (subcontracted)
  • Painting (subcontracted)

The sink and toilet are Kohler, the tub is Original American Standard, the wall paint is White Aura Bath and Spa by Benjamin Moore, the trim paint White by Benjamin Moore done by Donofrio Painting, and the grout is Mapei Silver.

I particularly love the dramatically dark floor, and would never have guessed it wasn’t hardwood:

Guest bathrooms are the perfect space for laminate flooring. Often, homeowners do not want to invest a lot of money into secondary spaces, so laminate offers a budget friendly solution, while providing warmth and texture that was once only achievable through hardwood.

I think the interesting floor more than makes up for the visual interest lost when the pink tiles were removed, and it really makes this small bathroom feel like a special space. Lucky guests!

We often bemoan the character lost when homes are renovated, but in this case, I agree with Content + Company that it was added rather than lost (original wall-mounted soap dishes notwithstanding):

What I love about this bathroom is that it finally has character! Overall, it is fresh, clean and inviting, but maintains the style and architecture of the historic home. It’s not overly masculine or feminine, but rather works perfectly for any guests that might happen to use it during their stay. In this small space, the wainscoting towel hook wall is so functional and the vertical lines add height to the room.

Source

https://www.apartmenttherapy.com/beadboard-bathroom-renovation-before-after-256437