See How Easily You Can Afford Your Next Home Improvement Project
Most homeowners dread the idea of having to replace their home’s roof, windows or siding. Obviously, it’s a big expense and most don’t look at it as a home improvement. They see it as more of a home maintenance, a necessary evil. It’s not as exciting as a kitchen renovation or a sunroom addition. Yet, it is necessary to keep the outside of a home maintained to protect everything on the inside, especially our most prized possessions – our family.
Well, I’d like to put it out there that replacing a roof, windows or siding is an exciting opportunity for you to beautify your home, while making it more functional and maintenance free. With all the designer options and quality of materials available today, replacing any of the above can serve to give your home much better curb appeal.
Last winter’s harsh temperatures and factors such as thermal shock can reduce the life expectancy of a home’s roof. Faulty siding and windows can result in water vapor condensing in wall cavities causing toxic mold and mildew. Mold and water damage is thought to be a “slow fire”; meaning that water can cause just as much damage to a structure as fire, only at a slower rate.
Most homeowners have to face the daunting process of making major financial decisions about a home improvement at some point in their life. This can be stressful and unpleasant when money is tight. There is a lot to consider once you realize the need for new windows, siding or roof. Best practice is to plan and prepare for these major home improvement expenses well ahead of time.
7 Tips for Financially Planning for a Home Improvement Project
- Start by making a list of the top three home improvements you would like to complete within the next five years and to prioritize them. Maybe your roof is well past its life expectancy — that would most likely make roof replacement your top priority.
- Next, begin doing your research by contacting dependable and local licensed home improvement contractors for separate estimates each of each project, and ask if there would be any significant price breaks if two or more were completed at the same time.
- Select your finishes and do your best to get a pretty accurate pricing picture so that you can wrap your head around the cost of each…an accurate estimate might cause you to re-prioritize your projects due to budget constraints, or it might help you realize that a project could be more affordable than you realized!
- How will you pay? Narrow your focus to 1 or 2 projects, based on what you’ve determined it will cost and what your budget will allow. Then evaluate current lines of financial aid that are available to you to complete the project now; cash, credit card, home equity loan, financing programs (available through some contractors). Could you pay for some or all of the cost? Is it possible to spread the cost out over time? Decide which is best for you and discuss your eligibility for financing with your contractor..
- Do the Math: Determine the amount of savings, needed to proceed, and then divide the total by 52 weeks to determine how much you would need to save each week over one year to reach your goal. Or, break it down by months, or several years, depending on the urgency of the home improvement project.
- Communicate with Your Contractor: Ask the contractor who you’d like to go with how long the estimate pricing is good for, as most contractors’ costs rise every year. Explain to them your plan, and once you’ve reached your goal to proceed, contact them to let them know you’re ready to start improving your home.
- Sit Back and Reflect: As with any major decision in life, it’s best to take the time to contemplate and plan ahead. This not only take the stress out of life, it can make it a lot easier to reach your goals. Once you’ve taken all the proper steps towards reaching your home improvement goals, you can sit back and rest assured that you’ve developed a smart, well thought out strategy towards improving your home.
Family Owned Home Improvement Contractor in Delaware
If you are currently looking for a dependable and honest home improvement contractors in Delaware, get in touch with Ferris Home Improvements. We are a local family business helping our neighbors with all their home improvement needs. We have a stellar reputation for all your home improvement need; roof replacement, window installation and siding replacement. We are certain you’ll be impressed with our work!