Funding Your Home Refurbishment: A How-To Guide 

Sometimes even the perfect home needs a little refurbishing from time to time, whether that is a new bathroom suite or an updated kitchen, or something a little more involved like an extension or a loft conversion. Unfortunately, home refurbishments don’t come cheap, especially if the job is a little larger. Luckily, there are several options that you can explore when it comes to financing your home improvements; let’s take a look. 


Most people tend to save up to be able to afford their home refurbishments. However, depending on the work that you want to do, you might not have to save up for very long. Using cash or your own savings to pay for your home refurbishments does mean that you won’t be on the hook for a loan that needs repaying. However, it can take some time to save up enough money.  


You could also choose to remortgage your home in order to free up the funds needed to pay for your renovation. Remortgaging your home simply means that you are transferring your mortgage from one lender to another. It can be a great way to increase your borrowing, and you might even be able to gain access to a better deal. You will need to prove to the lender that you can afford to take on a higher mortgage.  

If you have a great deal with your current mortgage and are reluctant to give it up simply to access more capital, you could consider increasing your mortgage with your current provider if they offer such a thing. There may be fees, but it could be the cheapest option overall. In addition, most lenders will consider increasing your mortgage for home improvements which would, in turn, add more value to your home.  

A Loan 

Another option that you might want to consider when it comes to financing your home improvements is a loan. There are several forms of loan that could work, including a homeowner’s loan or even specialist loans like the home refurbishment loans available from Advias. These loans allow you to take on any bigger jobs that you might need to do without waiting to save up enough capital. When it comes to looking for a loan, there are several things that you need to bear in mind, including the interest rate. Remember that you want to find the best deal possible. You should also take into account the repayment term.  

Credit Cards 

If you don’t need that much work done on your home, then you could always put the work on your credit card. However, this does entirely depend on the cost of the work, the limit on your credit cards, and whether or not you have good rates. Realistically, while this is a perfectly reasonable option, it probably won’t make the most sense financially. Especially if your interest rates are higher on your credit card.  

Adding Value to Your Home 

If your home refurbishment is all about adding value to your home, then you might want to think about the best ways to do that. Firstly, adding more space to your home is a great way to bring up its value. This could be via a loft conversion, a conservatory or an extension. The bathroom and the kitchen are other rooms within the home that can significantly affect its value. Keep the costs in perspective, but remember that a new suite, fixtures, and fittings can really help to boost the value of your home. 

Keeping Costs Down 

You need to come up with a realistic budget for your home improvements. Do some research to see what the average is for the work that you want to do. Some jobs are far cheaper than others. It might also be worth seeing how much you could do by yourself versus paying for a professional. That being said, do not take on any important jobs that require skills beyond yours because you are likely to make a mistake, and you will end up paying more to have it fixed professionally.  

Not every home improvement has to be a huge job. For example, you could update your kitchen by purchasing new appliances, but you could save money by painting the cupboards yourself or changing the handles. Never underestimate the transformative effect of a coat of paint or some new fixtures and fittings.  

To Conclude 

You have a lot of options to choose from when it comes to financing your home refurbishment. Think about your financial situation, the task at hand, and the budget that you have to help you when it comes to making a decision. There are ways that you can keep costs down. However, it is also worth considering which home improvement offers you the best return on your investment in terms of increasing the value of your property.  

© Copyright 2022 Antonia, All rights Reserved. Written For: Tidylife
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