This past year has had many of us spending more time at home than ever before. Combine that with the warmer weather, and you may be itching to start some of those lingering home projects. From kitchen and bathroom updates to a new roof, a pool, or smaller projects, this is the perfect time to start making your house feel more like home. But sometimes those home projects can be overwhelming and it can be challenging to know where to start. That’s why we put together our top tips to help make sure you’re getting the job done, within your budget.

Set Project Goals 

It’s time to put pen to paper. You may have a general idea of what you want to accomplish with this project, but writing out your goals and objectives really gives you a clear and visual idea of what you plan to achieve. Depending on the type of project, you may even want to consider getting blueprints or sketching out your plans before you start. 

Establish a Budget

It’s important to create a budget to identify how much you’re able to spend and how much you need to set aside for the project. It might even be helpful to make an Excel sheet to plan and track your budget along the way (however, it’s not required if it’s not quite your thing).

Here are some questions you need to ask yourself before getting started: 

• What’s the average cost for a project like this?
• Are there other options that are cheaper and more within my budget?
• What other resources do I need for this project?
• Will there be any additional or unforeseen costs?
• Do I have all of the money I need for it right now?
• Is my project deadline realistic financially?

While a budget is super helpful, it can be a little discouraging if it is low. But don’t get discouraged if you have a small budget and big ideas – a lot of times you can make something look like you had a really big budget but in reality, it didn’t cost that much. The internet is a wonderful resource to help make DIY projects look like a million bucks on a budget. 

Find a Contractor

If the project you have in mind is more than a DIY project, we suggest finding a reputable contractor. Start by getting recommendations from friends, family, and local community members and then ask those contractors for written estimates. Also, ask for copies of current licenses and insurance certificates based on your state’s contractor licensing requirements. A reputable contractor should be carrying personal liability, workers’ compensation, and property damage insurance. Lastly, ask for a written contract with all project specifications, including start date, completion date, cost, guarantees, warranties, and promises. 

Create a Timeline

Whether you’re working with a contractor or doing the work yourself, it’s important to create a timeline to stay on track to ensure everyone involved will be on the same page. If you choose to work with a contractor, it’s important to know their schedule so you know when they can start the job, and when they can finish it. 

How We Can Help!

We’re here to help you, no matter how big or small the project is. Check out a couple of our helpful options below.

CCU’s Home Improvement Loan¹

This loan is a great option if you don’t have substantial equity in your home but want to make improvements or prep your home to sell. Unlike home equity loans, this loan option allows you to borrow up to $25,000 for home improvement projects without needing to borrow against your home. This loan could be used for new flooring or windows, a kitchen or bath remodel, or installation of an in-ground pool or central air and more. 

Looking for Other Options?

Let us help you find the best option that meets your specific needs. Contact us today to learn more. 
  

¹Credit Union membership required. Minimum borrowed amount $7,500. Approval for financing is subject to lending guidelines and credit qualifications. Must be a homeowner to qualify. Home must be your primary residence. For home improvement projects only; an itemized list of materials or estimate from a contractor is required. Limited time offer.