How to pay for home improvements

Money Advice Service

Follow the steps below to make sure you get your house in order when paying for home improvements.

Compare tradespeople and set a budget

Why?

This will stop the cost of your renovations spiraling out of control by avoiding the ‘extras’ you hadn’t planned for.

How?

List all the things you want done and ask for quotes rather than estimates.

Make sure you get at least three quotes, compare them in detail, and try to find reviews from previous customers.

Decide on the best way to pay for your improvements

Why?

Taking the time to work out the full cost of any borrowing is a good way to ensure you can really afford it.

How?

As a rule of thumb, use savings instead of borrowing if you can.

Choose the right type of finance

Why?

Choosing the wrong way to pay for home improvements can prove costly, but choose the right type and you could find yourself with an interest-free loan or credit card.

How?

This article is provided by the Money Advice Service.

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