Focus your attention on small jobs
Material costs for major home improvements like attic remodels and extensions are skyrocketing. Prices have been changing, but figures from the Office for National Statistics show they are on average 26% higher than a year ago. For example, the cost of rebar has risen by about 58% during this period.
However, you don’t need to expand the attic or replace the kitchen to remodel your home. You can focus on smaller jobs like replacing doors, handles and faucets, as well as painting cabinets and wood tables for a fresh new look.There are plenty of money-saving bloggers and upcycled influencers like @crack_the_shutters, @Joanne Condon and lace hut This might provide inspiration.
Joanne Condon, author of “Furniture Crush” and upcycling expert, said: “With the new trend of working from home colliding with the rising cost of living, we need to look at how we can make better use of it without spending a lot of money. Our home. Wealth.
“When we think about items we already have in our home, we also need to think about multi-purpose use. For example, old drawers can be turned into mini herb gardens, plant pots, pet beds and ledges. You can upgrade a wardrobe into a pantry with shelving or bookcase.”
Show before buying or used
If you want to work on a larger scale, you can buy a former showroom kitchen and bathroom for a fraction of the original price. Used Kitchen Company There are various front show kitchens and bathrooms. For example, a kitchen is listed with an RRP of £21,000 but sells for £7,900.
Here you can also sell your old units and furniture on the website, or try eBay and Facebook Marketplace. You can find used bathroom kits on these sites and save on items like new faucets and shower heads.
“Buying a used kitchen is an eco-friendly way to cut costs,” said Lisa Weber, a consumer law expert with consumer group Which?
“However, you should make sure to check all dimensions before purchasing and arrange to inspect the interior and exterior of the kitchen in person.
“Please note that if you are buying from a private seller you have less protection than if you are buying from a trader – items must be as described but they do not have to disclose any defects.
Photo: Pens Forms/Alamy
“When you look at the kitchen, be sure to double-check for any problems – if you spot a fault and decide to go ahead and buy it – to find out if it’s cheap to fix them because you don’t want to pay more than expected to correct any major fault.”
Plan your project carefully
Get at least three quotes to compare the cost of any professional job and request a total price including all fixtures and fittings. Also confirm the time frame and cost of the entire project in writing so nasty surprises are less likely.
Project cost will depend on several factors, including where you live, the amount of work required and the size of your home. MyBuilder.com lists guide prices for standard projects such as attic extensions and double glazing projects.
Noble Francis, economic director at the Building Products Association, said: “Plan ahead and buy the materials needed for the job to avoid delays and rising costs. The more materials you or a builder buy from merchants during a project, the higher the cost.”
If you’re buying several new fixtures and accessories, take the time to shop around and negotiate a package that includes everything you need to install the parts.
Choosing the Right Finance for Your Job
How you finance a home improvement depends on the cost of the project. If you’re painting your house, you might be able to pay for it with savings. Alternatively, if you have access to a large enough credit line, you can deposit some or all of the cost into a 0% interest transaction on credit card purchases.
For example, Sainsbury’s Bank, M&S Bank and Barclaycard currently offer new applicants interest-free purchases for up to 24 months.
Andrew Hagger of Financial Sites MoneyComms.co.uk Explains: “For any purchase over £100 and under £30,000, you will also benefit from Section 75 protection. So if you have any unresolved glitches or disputes, you can ask your credit card provider to step in .”
If you need to borrow up to £25,000, you may want to look into unsecured personal loans. If you have a good credit rating, the interest rate on the most worthwhile loan to buy remains between 3.1% and 3.5%. Unlike a mortgage, you don’t pay a setup fee. For example, if you borrow £20,000 from Tesco Bank at 3.2% over 5 years, you will have to repay £360.74 per month. You will have to pay back £21,644 in total.
If you borrow more than £25,000, remortgaging may be the cheapest option for many people. If your current home loan deal is coming to an end, you can re-mortgage to free up some equity and get a fixed-rate deal before rates rise again.
Check Energy Efficiency Grants
With energy bills skyrocketing, you might be considering insulating your home before winter hits. You can do this for free if you work with a large energy provider, receive certain benefits and earn up to £16,190 a year.
Under the Energy Company Obligation Program, certain people can receive free or heavily subsidized attic and wall insulation if they claim special benefits.There is a full list of eligible benefits here. you can use it simple energy advice calculator in England or Wales, or contact Home Energy Scotland.
Once you have checked that you are eligible, you will need to contact your supplier to investigate. You will install the insulation for free, or get a grant to cover some or all of the cost.
For a full list of vendors who have signed up to the program, please visit Ofgem’s website.
