Ah, home sweet home, the place where you feel safe and comfortable. However, it doesn’t matter how much you love your home. If the place is costing you an arm & a leg, then it’s time to readjust your needs. Most tenants complain about their rent being both too expensive and wasted as it doesn’t go toward property ownership. However, homeowners are quick to redress the balance: Between mortgage repayments and necessary home improvement work, having your own place can be even more of a dead financial weight than having a landlord. There are a variety of reasons why homeowners are spending a lot of money on their home, but ultimately they can be divided into three main categories. Firstly, you need to undergo essential home renovation or improvement works. Secondly, you have a soft spot for interior decor. And finally, you’re changing home.
Planned vs unplanned project –
While everybody loves the idea of a modern and efficient home, nobody loves renovation projects. First of all, there are two types of renovations projects, namely, some occur as a planned and thought-through project, and others as an emergency repair, as it’s the case after significant damages. One of the most common home repair cases is a burst pipe, which can lead to serious water damages. With costs as high as £15,000, you can be certain that your home insurance will consider your claim carefully before paying. In fact, if they can prove that the damage is linked to poor maintenance, you might need to look for self-financing options and sit down with a personal loan repayment calculator to find out what you can afford to fix. Planned projects, however, can rely on savings and even governmental grants depending on the type of improvements you’re making.
You can’t help it: The decor has to be perfect –
If you love changing your decor regularly, you need to reconsider your love for a changing interior design. Indeed, with costs between £14,400 on average and up to £49,500 to renew the decor of your living room, it’s easy to understand how your banker might get alarmed if you embrace new trends each year. When it comes to your interior, simplicity and classic style are the key to a timeless decor. And for a change of mood, you can simply paint the walls in a different color.
Moving home –
Did you know that most families waste a lot of money when they move home because of poor preparation? Indeed, relocation can be expensive in itself, and you can waste a lot of money if you forget to get your address changed for your bills and bank accounts, for instance. Imagine having to pay an additional fee because your forgetfulness stopped you from paying the bill on time? Additionally, most people leave packing to the last minute and end up forgetting things in their old home or breaking items through the move. Now, you wouldn’t want to have to buy a brand new set of plates and glasses, would you?
Ultimately, the key to keeping your home affordable is organization. Whether it’s maintenance costs, decor or simple changing address, get on top of it with a plan!
*This is a collaborative post