Can you really afford that room remodel you so desperately want?

Can you really afford that room remodel you so desperately want?


Remodeling even a single room in a house can run into a lot more money than you initially estimate. That is why it’s essential that you work things out before you start, especially whether you can truly afford to fund it or not.


As no one wants to run out of funds halfway through and have only a partially finished room to show for their efforts. Here is a checklist that can help you answer the question, “Can you really afford that room remodel you so desperately want?



…would be better to put it off for a bit longer?


Do you have the budget in cash?




If the answer to this question is no, you might be put off carrying out the remodel, but wait.

In reality, very few people have the entire budget in their hand before they start. In fact, many people use other methods of raising the funds that they need including taking on extra work at their jobs, using credit cards, selling items they no longer use in the home, and even getting a loan.

So, explore these ideas before you give up on your dream of remodeling that room.




If you have the entire budget for the remodel now in cash, that is you don’t have to borrow the funds, then you are golden.

It means you can get started buying supplies like paint and wallpaper straight away.

As long as you budget realistically, you should be able to pay for the entire remodel in one go.


Do you have bad credit?




Getting a loan for your remodel is likely going to be a bit easier. Just remember to shop around and get the best interest rate possible so you aren’t paying too much money out.

Also, check that there are no fee or penalties for paying the loan back early.




Of course, if you are one of the thousands of people that have bad credit, getting a loan to do a room remodel may be easier said than done.

This is because banks and lending firms traditionally don’t like to lend to those they perceive as higher risk clients.

Thankfully, if you do find yourself in this situation, you do still have the option of getting a personal loan for someone whose credit is bad. “What are personal loans for people with bad credit,” you ask?

They are loans that are granted to folks that have a less than perfect financial record. Usually at a slightly increased interest rate, allowing the loan company to benefit and you, their client, to still get your loan to complete your room remodel.




Do you struggle to make ends meet?




Go for it!




Lastly, a word of warning if you don’t have the cash to pay for the remodel outright, and you are looking at getting a loan.

Make sure to assess your day to day financial situation first. If you are already struggling to make ends meet, then adding the extra strain of paying back a loan will be too much, indicating that you truly can’t, in all honesty, afford that room remodel at the moment.




You may still be able to proceed with the remodel if you are willing to cut costs by performing a lot of the work yourself and save labor charges.

Also, shop wisely and take advantage of seasonal sales and other bargains.


Published by Christine Blythe

Christine is the owner and author for her three blogs: Empty Nest Ancestry, Feathering the Empty Nest, and Top Web Blog Tips. Periodically, if a post topic is appropriate to either of her other blogs, they will be published as a guest post by CJB.