How to Finance Your Makeover

Home-Improvement-FinancingIn this current climate, a lot of people what to sell their homes and move one, but they are stuck in negative equity and can’t sell. If you are in this position, then it might be a good idea to give your home a makeover whilst you save that deposit for a new property. This would be good for you because it might make you feel less trapped in the position that you are in, and it might add some value to your property, when you can finally sell.

If you are in this position, then you are probably saving every penny towards a deposit or to pay some extra off your mortgage. You are probably wondering where the money is going to come from to pay for the renovations. If this is the case there are some options, to raise money for the small items for your home.


If you know you are going to replace all your shelving or all your bedroom furniture, you could sell these items on eBay. As long as the items as in good condition and look like they can be re-used, they will always sell on eBay. This way you will recover some money from those items, so you can afford something new. However, the money you make, may not cover some of the bigger pieces of furniture.


If you are doing a makeover on your bedroom, buying new bed clothes or curtains, or even wallpaper is relatively inexpensive. However, some furniture, like wardrobes can be quite expensive. Therefore you could use your budget to buy some little things and then apply for loans to improve your wardrobe. You could get a small loan that you could repay over a year for minimal interest, or you could use an interest free credit card.

I wouldn’t suggest using a loan for the whole of the project because you don’t want to be using your deposit savings to pay for renovations on a home that you don’t want to live in. You could get a pay day loan if you see fit, but make sure you pay it off on payday so you don’t pay interest, but these loans don’t give you a lot of repayment choices.

You could also do the makeover in stages, sell your wardrobe and then use the money towards buying a new one and then sell the next piece of furniture before you buy more and so on. This will increase the time frame of your project but it will keep the costing to a minimum.

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