Buying your first home is a great milestone in your life and you would have some precious memories of when you first moved in. But many years down the line, you see things start to deteriorate, and renovations become necessary.
How well and efficiently you can renovate your home depends on your access to money. Everything costs so much more than it did when you first moved in several years ago. If you have enough money, you can do what needs to be done.
Renovating Your Home Efficiently
When you are faced with the number of things that need fixing, it can be quite depressing. Don’t be despondent. Renovating your home is easier than it seems when you adopt the right approach. Follow these seven tips for an easy home renovation project:
1. Make A List Of Activities
Do you want to renovate the entire house or a part of it? The answer to this question will determine the extent of activities that you need to organise. Whatever the case, you need to make a list of tasks according to their category.
You need to assess the condition of your woodwork, plumbing, electrical wiring, paintwork, flooring, furniture, and so on. Make a categorised list of the repairs/refurbishing work to be done.
2. Conduct Due Research
Once your list of planned activities is ready, get on the net to find out details of how to procure the required materials and where to find contractors who will undertake your job. The internet is a great place for great deals on goods and services.
Another advantage of browsing the net is that you can get some interesting renovation ideas for your home. When you built or bought your home years ago, fewer interesting things were available on the market as we have today.
3. Draw Up Detailed Contracts
Once you have identified a few contractors who seem to be good, get quotes from them. Draw up detailed contracts covering all aspects of the job, including the total cost of the contract with break-ups for material, labour, permits, and so on.
A good contract includes several terms and conditions with a start and finish date. A contract should also be clear on the scope of work so that both parties are clear about the job at hand. It guarantees that everything gets done at the agreed rate.
4. Allocate A Realistic Budget
There is a tendency to set budgets at unrealistically low rates. You need to be realistic about your budget. There are often things that get overlooked. Once the job starts, you may discover more work that shoots up the budget.
To cite a real-life example, one homeowner wanted to replace their bathroom tiles. Removing the old tiles revealed plumbing that was rusted and needed replacement. Thus, the budget extended far more than originally planned.
5. Apply For A Home Improvement Loan
Once you have an idea about what your entire project is going to cost, it is a good idea to apply for a home improvement loan. It is rare for a person to be able to cover the cost of the renovation project by dipping into their personal savings.
Today, you can get the entire cost of a renovation project covered by a loan repayable in easy instalments over a few years. There are many financial lenders like StashFin that offer loans tailor-made to cover home renovations.
6. Make Provisions For Your Meals And Stay
Once the work is underway, you will find your kitchen and washrooms unusable. You can set up a temporary kitchen in a place cordoned off from the construction area. Set up your basic kitchen stuff so that you can make basic meals.
It is also possible to save a room or two from the main house preferably with access to a washroom, where you can live for the duration of the project. You can have that area renovated towards the end of the project once the rest of the house is useable.
7. Exercise Patience
Be patient in planning and waiting for the right time to execute your home renovation project. Also, you need to exercise patience when the actual job is being done.
There is a lot of truth in the adage ‘haste makes waste.‘ Once the job starts, the various processes like painting, plumbing, and masonry take time. If you pressurise the workmen, they may make costly mistakes which can result in your home becoming devalued.
Although initially, the duration of the project may be a month, it may take much more time than that. You have to be patient and put your life on hold while the project is underway. Once you see the final results, you will feel that it was worth the wait.
StashFin Can Help You Renovate Your Dream Home
StashFin, a digital lending company, is run by professionals who have proven track records in financial services in India. The company has worked with several internationally-renowned financial institutions and banking organisations.
This company provides a variety of products to suit every imaginable financial need such as home renovation loans, personal loans, marriage loans, travel loans, consumer durable loans, and medical loans, just to name a few.
If you apply for a Stashfin home renovation loan, you can get instant approval up to ₹5 lakhs. The processing fees are minimal with no hidden fees involved. You get easy repayment terms and tenures ranging from three months to 48 months.
StashFin provides documents pick up and loan disbursal at your doorstep at a time that is convenient for you. Your loan can be approved within 24 hours, and you can have access to your money in 90 seconds of the loan being approved.
Renovate Your Home Efficiently And Effortlessly
Once you have decided that your home needs renovation, you should avoid delaying the project for too long. If you have noticed signs of deterioration in your dwelling, the condition of your property is likely to gradually worsen.
The more you delay, the more you will have to spend on renovating your home. With quick-approval, easy-repayment loans being offered by companies like Stashfin, what are you waiting for? Apply for a loan today, follow the tips we have provided here, and add to the value of your home by renovating it.
