How to fund home improvements
Whether you’re planning on getting stuck in yourself or calling in the experts, have you considered the best way to pay for home improvements?
Room for improvement
There are many good reasons to make home improvements, including make room for more family members and making it a suitable place to live into retirement.
Whether it’s upgraded bathrooms, a new kitchen or energy saving upgrades like double glazing, solar panels or boiler replacement, research has found that making improvements can greatly increase the value of your home.
The question is: how should you pay for it?
“We knocked three rooms across the back of the house into one large kitchen, we converted a fifth bedroom into a split office and utility, and we had bifold windows fitted. We moved house in November and my husband gets his bonus in October so we just put it straight in to his account ready for the work to start.”
Gayle, a designer from West Sussex, carried out a complete renovation of her home using money she received as an inheritance.
“We wanted to make our home open plan and to our taste. We spent £60,000 including building work, knocking through three rooms, a new bathroom, a new kitchen, garden landscaping, decoration, damp and chimney work.”
“We decided to remortgage to cover the cost of the renovations because we could get a cheap five-year fix and we wanted the flexibility to pay the money back over a longer period.”

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