Many homeowners want to make improvements to their home, not just to improve where they live, but also to increase the house value if they were ever to try to sell their home. However, home improvements can be costly and not everyone has savings to fall back on. If you want to carry out some home improvements but are concerned about how you will cover the cost, here are a few options on how you can finance the work.
A secured loan is a loan that will use the value of your home to secure the value of a loan. This means that you are using your home as a way to show you will pay the money back as agreed, otherwise, the loan provider is able to take your home away from you in lieu of payment. You should only consider this form of loan if you are sure that you can afford to pay it back. Secured loans are advantageous as they can encourage lenders to lend you a large sum of money without high-interest rates.
Secured loans are considered useful for funding home improvements, as they allow you to make money in the future by adding more value to what your house is worth.
Many people use remortgaging to cover the costs of home improvements. This means that you will take out a new mortgage in order to repay what you owe on your existing mortgage. This can free up the money you need for improvements if you take out a loan that is greater than what you need to repay the current debt on your existing mortgage.
The amount that you can borrow based on remortgaging will largely depend on how much equity you have in your home. You’ll also need to prove to the mortgage provider that you can afford to pay it back as agreed. But don’t forget that once you have remortgaged, you will be starting to pay your mortgage off again from the beginning, which could increase your payments or extend how long it will take you to be mortgage free.
You can also consider short term bridging finance as an option when thinking of ways to cover the costs of home improvements. Bridging finance offers a short-term property-backed loan, which while being like secured loans are only usually offered for between 1 to 18 months before the loan must be repaid in full. You will have to undergo an application process when applying for bridging finance but is a lot simpler than other applications, such as the remortgaging application process. Additionally, the process is usually completed within 14 days.
Bridging loans can be offered against many different property types and are often used to fund conversion or restoration work. They are particularly popular with property investors who want to renovate a home before they flip it.
It can be difficult to try and find the money required to finance home improvements, but this guide to a few of the most popular options allow you to pick a route that best suits your needs.
https://www.youtube.com/watch?v=I81uLjZTuZk
Kerala style homes have courtyards surrounded by rooms on each side. Traditional Kerala-style homes have a central courtyard known as Nadumuttam surrounded by rooms. These homes promote natural light and ventilation according to the region’s climate. These homes, due to the feature of courtyards as their core spaces, offer beautiful opportunities for social gatherings. This […]
Arches have long held a timeless appeal in architecture—graceful, structural, and endlessly versatile. From a grand entrance to soft curves of an interior, arch design is making a reappearance in today’s interiors. Whether you like classic archways or clean lines of modern arches, every design aesthetic has an arch style. In this blog, we will […]
India, a nation bustling with innovation and a constant drive for progress, is increasingly embracing an unconventional yet incredibly promising architectural trend: container architecture. We are witnessing a fascinating transformation, as discarded shipping containers, once traversing the high seas laden with goods, now find new life as dynamic, sustainable, and surprisingly sophisticated living and working […]
In the world of interior design, luxury is no longer just about opulence—it’s about intentionality, emotion, and storytelling. Today’s luxury interiors blend comfort, artistry, and innovation, often reflecting a personalized experience that resonates with the inhabitants. From fashion boutiques echoing ancient geology to apartments that merge modern design with classic charm, luxury interiors are becoming […]
Throughout history, stone has embodied permanence, artistry, and raw beauty in architecture. From the grandeur of Roman amphitheaters to the earthy elegance of modern villas, stone remains a beloved material for its strength, sustainability, and aesthetic richness. As design trends evolve toward natural materials, eco-conscious decisions, and biophilic design, stone has found new expressions — […]
If you’ve ever struggled to visualize how a new sectional or bookshelf will look before you click “Buy,” you’ll appreciate the power of a free room design tool that lets you drop, resize, and style real-world furniture in seconds. Arcadium 3D—an online, browser-based design platform—pairs professional-grade 3-D modeling with an expanding catalog of parametric furniture, […]
Balcony decor ideas are a trend nowadays, as people have increasingly started living in apartments. These tiny spaces of the house have a larger importance in the day-to-day life of a person who lives on the upper floors of the apartments. Thus, balcony decor ideas must be very subjective to the people living in the […]
Staircase design for home plays a key role in shaping both function and style in interior architecture. Designers consistently push boundaries to create a staircase design for home that reflects personality, optimises space, and enhances aesthetics. From minimal floating stairs to ornate traditional options, each staircase design for home contributes a unique character. In this […]
When it comes to enhancing the kitchen window over the sink, various design ideas are possible to decorate Indian homes. From rooted in tradition to Western-style modular kitchens offer both functionality and attractive aesthetics. Apart from the sleek profile and raised breakfast counter, the kitchen window over sink is another spot to add appeal and […]
Indian homes place equal importance on pooja room door designs as they do on main door designs. With diverse and unique ethnic backgrounds, every family strives to reflect their personalities and identities in their designs. These identities can encompass religious or spiritual interests, local contexts, or other personal elements. This series of blogs, featuring 50 […]