One of the top reasons to get a personal loan is to improve your home. This is a wise move, as your home is a top financial asset. So you’ll want to treat it well. By fixing or updating it, you are actually adding value to it. Sometimes you wind up in a situation where you realize that you must sell your home. Whether this comes up quickly or it is planned, by caring for your home well – you’ll easily get top dollar out of it when you get on the real estate market.
Personal loans are quite popular because they are easy to get. This is an unsecured loan, meaning that you do not have to put up collateral to obtain it. What really matters the most is that you have a good credit rating. With a good credit score, you can be guaranteed a good loan interest rate.
Here are some of the projects we recommend you consider to add value to your home. Remember that personal loans are ideal with a timeframe of about 2 to 5 years.
To add on an addition to your home. Now this is one of the most popular choices. Perhaps you realize that you are expecting – and it’s going to be twins! Or your mother-in-law has gotten a bit older and you’re going to have her move in with you. There are many reasons that putting an addition on to your home makes a lot of sense. Doing so makes your house larger and this often can just make your home a lot valuable because home buyers like bigger homes. It makes them realize the potential of your home too.
Convert the attic or basement to a room to use. Consider doing this if you need a little extra space and either the basement or attic offers you great opportunity for this. You’ll probably need to add heating and sometimes plumbing. Quite often you’ll also need to add aesthetic changes, such as better flooring and a rug and repaint it so it looks better. This can be a great home office or play space for the kids in your home.
Add central air conditioning or solar panels to your home. Now everyone wants to feel comfortable in their home. It’s really no fun to be too hot or too cold. So by adding central air conditioning, each room in your home will get a/c. Or adding solar panels, your electric and heating bills will be much lower and you’ll also get heat or cool air easily too. These are ideal situations where a personal loan gives you the capital to go ahead and make this improvement. It also adds tremendous value to your home, especially as you go to resell.
Revive a room with new furniture and decor. This is an ideal choice for many homeowners. Perhaps you’ve lived in your home for 10 years or more, with the same furniture and decor. Your kids are getting older and the furniture has grown older right along with them. One room people especially love to update the decor for is the living room, because this is where you welcome guests. Buying a new living room set and other accent furniture will help this room look great. You can repaint this room and add new curtains, rugs and pillows. Why, it may make you feel as if you’ve stepped into a new home for a moment!
To take care of much needed lawn and tree work. Sometimes this comes up as a great need to get a personal loan. Especially if you have older trees, you’ve got to take care of them properly. Their roots can grow around pipes underground causing great havoc. Or dead trees can need to be cut down, especially before a storm comes through your area and takes it down in a dangerous way. Perhaps you’ve had insects or pests in your flowers or yard, so you know you’ve got to get that under control. Lawn and tree work can greatly increase the value of your home. That personal loan you get now will only rise the high value of your home in the coming years.