Easy ways to make your home improvement project more affordable.

Easy ways to make your home improvement project more affordable.


Most homeowners know how vital it is to invest in regular home maintenance projects, but if you’re short on cash each month, this may be a challenge.
If your finances are coming up short, you’ll need to be creative in order to find the cash to pay for essential home repair or improvement projects.
Your home is an important investment, so it’s important to find a way to prioritize these tasks. Here are some easy ways to make your home improvement project more affordable.


Consider a home warranty.


One method to help make the cost of home improvement more reasonable is to invest in a home warranty plan at some point in your home buying process.

Some sellers include home warranty plans in a sale to help entice a buyer’s interest. Or, if you’ve owned your home for a while, you can look into creating your own home warranty plan.

Simply put, you pay either a monthly cost or an investment up front and get some of the major systems in your home covered for repair or maintenance.


Invest in a service plan.


It also may make economic sense if you invest in a service plan whenever you purchase a new major appliance.

Large, costly appliances, such as hot water heaters, furnaces, and HVAC units can sometimes cost a lot over time for repair and maintenance.

Contractors or the appliance manufacturer may have options including service plans to help make the costs of ownership much cheaper and relieve you from the worry of unexpected or emergency repairs.

roof repairs


Opt for financing.


Another way to make the cost of home improvement more reasonable is to apply for financing with your contractor.

Many home improvement companies offer their own in-house financing to customers so they can break a big project’s cost into easy monthly payments.

You’ll need to submit a credit application, so be sure to check your credit score before considering this.


Put your tax refund to use.


It’s also a smart idea to put your tax refund to use.

If you get a large refund from the IRS, don’t spend it on something frivolous, like a big vacation or new electronic system in your home. Instead, use your tax refund to upgrade your homes ac.

This way, you could put your money back into your biggest investment, your home. An upgraded HVAC system could help you save even more money over time on energy costs. It would also be an added incentive should you decide to sell your home.


Cut back on expenses.


Are you one of those people who doesn’t believe in purchasing add-on warranties because you feel like you’re filling someone else’s pockets for no good reason?

If so, when you purchase your home, allow room in your budget for monthly home repair costs. The best and easiest way to do this is to create a separate bank account and make regular contributions through automatic payments. Believe me, you won’t even notice the money is missing.

To increase the amount you can save, look for opportunities in your monthly budget to cut back on expenses. Eliminate extras, such as movie nights, eating out, and cable television, so you have more money left over each month.

Maintain a minimum balance to cover emergency expenses. Invest the remainder in your RRSP before the year’s tax deadline and reap the benefit in reduced tax payments or an increased tax refund.

What a great way to invest in your retirement!


Get a home improvement loan.


The last option for someone who has plans for a major remodel is to consider a home improvement loan.

You can borrow against the equity in your home or look at FHA loans for a lower cost product. Be sure to shop around before committing to any lender so your overall cost isn’t too high.


If you’re struggling to pay for routine home maintenance and repair, it’s time to change a few things. Use these tips to help you come up with the money to pay for these essentials.



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.

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