Financing Your Home Improvement Project

Home Improvement Loan

I talk with so many people who are kept from pursuing their remodeling dreams because of the costs involved. Many remodeling projects that seem simple on the surface can quickly turn into an endeavor costing tens of thousands of dollars to do them properly.

Not being able to write a check up front to pay for your remodeling dream doesn’t necessarily mean it is beyond your means. There are several ways to finance a home improvement project, and many times it makes sense. Once you find out what it’s going to cost to update that thirty- or forty-year-old master bathroom—or any other project you have in mind—ask yourself these questions before you consider financing:

Will the project add to the value of the home? Projects in main living areas like bathrooms or kitchens have the best chance for increasing the amount your house might sell for, and could possibly help it sell faster. Most of the time, you won’t get the full value out of the remodel, but there is definitely some intrinsic value.

Does the project add value to my lifestyle? Projects like remodeling a kitchen and living area, turning your bathroom into a spa-like retreat, or creating a new living area outdoors with a covered patio help us enjoy our homes more than we already do. This benefit has value, especially if we and our families get five, ten or twenty years of enjoyment from it.

Am I being realistic about the cost of the project? Major projects cost what they cost. Computer-aided planning and estimating has made it very easy for professional remodelers to accurately estimate the cost of a project. Be diligent researching the cost of the project you are thinking about, and stay away from anyone offering a “good deal” for whatever reason.

Can I really afford the payments? If the payment fits comfortably within your disposable income, and the answers above make sense, go for it! If the payment is going to cause stress or uncertainty, wait until it doesn’t. Start making the payment into a savings account, and pull the trigger when you are comfortable making the payment, and enjoy the savings accumulated while getting acclimated.

If you are interested in inquiring about a home improvement loan, I highly recommend you contact Anthony Bailey at Frost Bank, 817-420-5302,, He can educate you on the type of financing that would be best for your project.

Have fun planning your future remodeling projects!


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