DIY Home Improvements: Let Your Dream Home Inspiration Inspire You to Save

Home Renovations You Can Do Yourself That Save Money Even If You’re Making More

If your paycheck recently got a boost from a new job or promotion, now may be the time to tackle those DIY renovations you’ve always wanted to make. Whenever you experience a change in income, it’s wise to reevaluate your budget and determine how to use that cash to reach your long- and short-term goals.

DIY home improvements are one option. Turn on the TV, and you’ll find many DIY renovation shows that can help you come up with great ideas to improve your home. Maybe you want updated landscaping, a new kitchen or a game room—all projects you can take on yourself rather than paying the professional price tag.

First, Budget for New Home Renovations

Home improvements increase your home’s value and make it a more enjoyable place to live. With a raise or a new job, you have more flexibility in your funds. Now is the time to make the home renovations you’ve been wanting to start.

Before you dedicate any discretionary funds to DIY renovations, make sure you pay down debts and feed your emergency fund and savings account. Once you’re set with the essentials, using available funds to support projects around the house can be a great long-term investment.

When doing a DIY home remodel, be sure to pay attention to costs before starting any projects. Consider the cost-intensive parts of every DIY renovation, like high-end materials or renting tools and equipment. While a project like this may add value to your home, the return may be minimal compared to the cost of the DIY project itself.

DIY to Save Money While Gaining Significant Value

DIY renovations can help you save money in the long run. Quick home renovations include adding new doors, installing a patio or enhancing your entryway. Consider adding a fresh coat of paint to the exterior of your home or interior spaces, or installing new flooring. Kitchen and bathroom updates are also DIY-friendly projects.

Home renovations that make your home more energy efficient also add value and can give you a great return on investment—think replacing inefficient appliances and sealing windows and doors. These can all help you save on energy costs. While cosmetic DIY renovations make a more immediate impact on the value of your home and will require less planning and expertise, consider rolling up your sleeves and starting some of these projects:

• Adding ceiling fans in place of standard lighting fixtures
• Updating standard fixtures, such as faucets, lights, switches and cabinet handles
• Cleaning or power washing exterior walls and surfaces
• Adding or upgrading exterior landscaping

Financing DIY Renovations

Maybe your raise gave you a nice boost, but you need a little more to fund your updates. WesBanco can help make DIY home improvement easier on your budget with a HELOC or personal loan. If you intend to tackle more projects over time, you may benefit from a line of credit. To learn more about your financing options for DIY renovations, visit a local branch or apply online.

 

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Content is for informational purposes only and is not intended to provide legal or financial advice. The views and opinions expressed do not necessarily represent the views and opinions of WesBanco.

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