So, you are thinking of fixing up the house a bit. Maybe repaint or put on a new roof, or even add that extra room you have been talking about for years. With home values good and property moving in the market well, now might be a good time to consider home improvement, maybe even do more than you were originally planning.

If your budget will not accept all the things you would like to do to your house, a home improvement loan is a good way to go.

If you are thinking on taking out a home improvement loan against the equity in your house, there are some things that you need to consider.

If you’re considering a home remodeling project, you’re probably thinking about borrowing money, as this work can be quite costly.


First, are you going to do the work yourself? If so, you need to plan exactly what it is that needs to be done and how much money you are going to source through your home improvement loan. This will entail pricing out all, and I mean all the supplies and equipment you are going to need. Do not forget also that there are some hidden expenses that some people do not consider such as city licenses and the like. Once you have prepared a complete and thorough list of expenses, you can begin to shop around for a home improvement loan.

There are many sources including savings and loan associations and companies that specialize in home improvement loans. My suggestion is that you borrow a little more, say ten or fifteen percent higher than you think that you will need. Sometimes, the unexpected arises such as additional costs to rid your attic space of those annoying termites just when you start putting in that new ceiling.

As always, you have to talk to a home improvement loan expert who knows the business and has a good reputation. However, as in dealing with most experts, it is important that you have some idea of what you need before you go to a consultation like this.

Remember one thing, a home improvement loan is not just for the do-it-yourselfer. If the job you are thinking about requires a contractor, many of these companies have good and sometimes cheaper access to a home improvement loan for their customers. I would ask that question first, before I discussed the job I wanted to have done on my house.

Taking on a home improvement loan should not be a big financial burden. The interest rate should be much lower than on your credit card or other unsecured loan. Consider also, how much the home improvements you are contemplating would maintain or even increase the value of your property. A home improvement loan may turn out to be a very wise financial decision as well as making your home a more pleasant and desirable place to live.