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A Guide to Secured Home Improvement Loans  

Owning a house is a great achievement. Making improvements on that house is a much better decision that will give it the necessary facelift and improve it’s value in the market – just in case you plan on selling. Even so, the improvements will only have a positive effect if you can raise the funds for such a task. If you have not saved enough money for the improvements, the best option would be to get secured home improvement loan. What do you need to get the loan?

First, the fact that the loan is secured means that the lending institutions will not find you a huge risk. By applying for such a loan, you will get the entire amount that you need for the home improvement. The money that you raise through the home improvement loan will be adequate for all the work that you want to do on the property. You have the freedom of choosing a fixed interest rate for the entirety of the loan repayment period.

Most importantly, you only qualify for the secured home improvement loan if you have collateral. On the other hand, you need to guarantee the following prior to the lending institution considering you qualified for the loan:

  • the collateral must have an excellent market value
  • the borrower needs to show proof that he is of statutory age
  • the borrower must show proof of income to guarantee that he is capable of repaying the entire loan without defaulting

Although credit history is a factor that the lending institution has to consider, there is no cause for alarm. This is because more lending options do not deny you the secured home improvement loan because of a poor credit history. What the lending institutions need is proof of income, document showing that you are of the statutory age, and the appropriate collateral. It is worth mentioning that some lending institutions do not ask for collateral.

The next thing that you need to do is to get all the appropriate documentation in order prior to applying for the loan. You will have to exercise some degree of patience, as some of these documents take long to obtain. For that reason, remove pressure from your shoulders by giving yourself ample time to acquire the proper documentation. A lending institution will for the most part ask for the following documentations:

  1. property estimation fee
  2. contract
  3. home improvement plans
  4. proof of tax compliance
  5. contractor information sheet
  6. borrower application form
  7. letter signed by the lender and borrower

The benefits you get from the secured home improvement loan include flexibility regarding the amount to apply for, interest rates and the length of the repayment period, which depend on your prevailing financial situation as well as personal needs. Applying for a joint loan is an option worth considering as well. Some lending institutions will approve your request for the loan in only a day, thus enabling you to embark on the improvements immediately.

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14 Facts about Home Improvements That Will Impress Your Friends


Below are the facts regarding home improvements that will leave your friends impressed:

  • The home improvement industry in the US is valued at more than $313 billion. This figure represents growth of around 5.9 percent within the US market alone.
  • In the US, the average cost of a home improvement project, especially if it’s small, tends to be around $18,000.
  • If the construction of your home happened before 1980, there is a high chance that it requires regular maintenance. In the US, more than 40 percent of all homes were built prior to 1970. Consequently, if you live in such a house prepare the budget for home improvements. For such houses, a bigger portion of the home improvement budget will focus on enhancing security and safety features.
  • A home remodeling project is likely to cost more square foot than what you would pay for a similar type of new construction work. This is because of the massive costs of labor regarding the need for tearing some aspects of the house down to make room for new installations, fixtures and fittings.
  • Floor plan can undergo all manner of remodeling, but only if you have the finances to support such projects. Checking the load bearing capacity of the wall or floor is critical in home improvements.
  • In some jurisdictions, you need permits to proceed with your home improvement project. The permits are necessary for any person who desires to alter the external and interior sections of his house.
  • DIY remodeling is the best way of saving money for homeowners. Remodeling projects that require heating, plumbing, and electrical as well as ventilation adjustments need the input of licensed professionals.
  • Some home improvements projects are viable while others will not have a bearing on the value of the home when you want to sell it. For example, remodeling the bathroom can increase the value of your property by as much as 75 percent. Re-roofing can increase the value of the home by a modest 10 percent.
  • When carrying out kitchen remodeling, focus on increasing space through the creation of a goo flow of traffic. Installation of multiple sinks in addition to the stoves and hoods found in restaurants is not always the best option.
  • The focus of any remodeling work on the bathroom should be to avoid the increased waste of water. In this regard, installing a surround shower or Jacuzzi tab might not produce the desired results.
  • Do not forget to set aside a significant portion of the home improvements budget for improving the curb appeal of your property.
  • The most common home improvement task is bathroom remodeling, which not only increases the value of the home, but also improves the quality of life through the addition of extra space and boosting the aesthetic appeal of one of the most important spaces in the home.
  • Homeowners should carry out remodeling projects depending on the time they expect to stay at the house.
  • Only homeowners qualify for the home renovation tax credit.

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Home Improvement Ideas to Increase Your Home’s Value   


Housing prices have been increasing for quite some time now. If you plan to sell your house, now would be the best time to do that considering the amount of money that it could fetch. The key to getting more for your house is to ensure that it is in excellent condition. For this reason, you must undertake regular tiny home improvements. Alternatively, you could schedule a major home improvement to increase its value prior to selling.

First, it is worth mentioning that improving the value of your home has several benefits. It helps you to get the best price for the home once you put it up for sale. Once the value of your home goes up, you can use it to get a bigger loan than it would have fetched initially. More importantly, the increased value will also be good for your own psyche. The entire household will feel good about living in such a house.

The home improvement ideas that you should consider when you need the value of your house to go up include the following:

  • Creating Space

Get rid of the non-structural wall to create more space. If the kitchen island takes up too much space, remove it. Modern buyers are interested in wide-open floor plans.

  • Landscaping

The unkempt bushes and tangled trees that surround your house need pruning otherwise they will continue obscuring views, darkening interiors, promoting mold and blocking the house.

  • Lighting

Consider fitting sun tubes or dimmer switches to increase lighting within the property. If you have the money, consider framing the skylight. Use a reflective material as well for funneling natural light.

  • Care and Maintenance

A few care and maintenance measures that would improve the value of your home include insulating the attic, repairing plumbing leaks, replacing rusty gutters, replacing and repairing leaky or damaged windows.

  • Green

Replace creaky air conditioners with new ones and save up to 40 percent. Consider installing solar-powered heating systems and see the value of your home shoot up significantly.

  • Focusing on the Front Door

Never ignore the front door while undertaking home improvements. The front door offers the first view of a house, thus should create the appropriate impression.

  • Flooring

Find a way of eliminating the distracting squeaks on your floor. Repair the broken tiles. Patch up the damaged floorboards. Get rid of the old wall-to-wall carpeting.

  • Upgrading Bath

The kitchen and the bathroom require a significant portion of the home improvement budget if the value of your home is to increase substantially. Replacing frosted glass, cleaning the grout, removing dust stains and applying fresh caulk are a few steps you can take to upgrade the bath.

  • Colors

Paint your walls with neutral colors. Avoid putting houses with walls full of chipped paint up for sale. Neutral colors offer buyers the platform to try their own ideas.

  • Address all Concerns

Consider removing or fixing whatever you feel will damage the value of your house. Address any issue that raises more questions regarding the value of your house properly and fast. Avoid quick fixes, as they could prove costly later when you need the house to sell high.

Therefore, apply the aforementioned home improvement ideas and see the value of your property increase significantly if you want to get a bigger loan. Similarly, put these ideas into use and see the home fetching a higher price when you put it up for sale. Alternatively, apply these ideas and see higher paying tenants move in and the demand for your property among renters increase massively.