Finance Your Home Improvement and DIY Projects

Home improvement and DIY projects are a great way to enhance your space, increase your property value, help you feel proud of your home, and even stop rising energy bills from getting the best of you. And while it might not cost much to weed the garden, bigger home improvement jobs might need financing – and a personal loan from MTF Finance can help you on the way.

So what might a home renovation loan look like, and how can you put it to best use? Well, you’re in the right place to find out.

Why get a loan for home improvements?

Whether you’re been lining up the job for ages (and your family won’t stop bugging you about it) or something’s popped up urgently, a home improvement project often requires financing.

A loan means you get your money ‘up-front’, which is ideal if time is against you. Rather than having to save up for a project, a personal loan from MTF Finance could see you approved and funded within the same day you apply (subject to responsible lending inquiries and checks).

Here’s just a handful of good reasons to get a home improvement loan.

Get your home ready for a competitive market

If you’re planning to sell your home or turn it into a rental in the near future, then some small investments can really make it stand out in a crowded market. That could include a modern kitchen or bathroom, or new flooring, which can add value to a home quickly. Similarly, rentals that have features above and beyond the minimum requirements are more attractive for tenants.

It does pay to not over-improve your home, however, since you may not recoup the costs if it becomes too expensive for your neighbourhood. Some recommendations say to invest between five and 20 percent of your home’s total value – which leaves heaps of options open.

Improve safety and efficiency

If you want to prevent accidents or injuries, and save on utilities and maintenance, then a home improvement loan might be the ticket.

From replacing a leaky roof or warped window frame to adding a security system, investing in the safety of your home can give you real peace of mind and help keep your family or tenants safe and comfortable.

Plus, these changes are a good way to reduce bills. Home improvement loans can be used to install or upgrade solar systems, replace worn-out appliances, or add insulation measures like underfloor insulation or double-glazing windows that have an immediate impact on the quality of a home.

The cost of supplies is increasing

Thanks to supply chain disruptions and a squeezed market, the cost of supplies has been on the rise for a while – and it’s not looking like it will come down any time soon. So whether it’s plasterboard or timber, steel framing or windows, the cost alone of these goods is up. And if you wait too long to start a project, you may end up paying more for the same materials.

A personal loan means you can take advantage of current prices, and avoid future price hikes, as well as tap into current sales or rebates that might be on offer.

You might want a project manager

While we have a dyed-in-the-wool DIY streak in this country, not everyone is confident in planning a big home improvement project. So that opens up the question to aspiring home renovators: Should you get a project manager?

Project managers are professionals who oversee and coordinate a project, helping you with things like design, budget, scheduling, permits, contracts and quality control. They can also potentially help you find the best contractors and suppliers to suit your needs and budget. The result? You can save time, money and stress on your project – and get a professional finish!

A home improvement loan can be used for a project manager’s costs, helping you overcome the overwhelm of a big job and freeing up your time.