Daily Bulletin

The Property Pack


  • Written by News Co

Taking on a large home improvement project is a major job in the life of a homeowner, but tackling larger projects is simply part of the process of approaching lenders, handing over a down payment, and buying and maintaining your new home. Whether your house requires renovations like an addition for a growing family or a roof replacement in the first few years after you’ve moved in, taking care of business means staying one step ahead of repair and renovation work as well as the monthly payments due to your mortgage lender. Here are some ways you can deal with these larger projects.

Begin with a solid mortgage loan plan as a careful borrower.

Your home loan is one of the primary areas where a homeowner must get ahead and stay on target. Depending on the type of loan you've taken out from a lender, you may be signed on to a variable rate or a fixed rate home loan. Working with your lender to secure a favorable interest rate and loan options that work for your family's needs is something that every homeowner grapples with early in the home buying process, but this can be made far easier if you take great care of your credit score in the months, or even years, before buying your home. Considerations regarding your credit score are one of many questions to ask your lender before signing on to any mortgage loan documents associated with the home.

Borrowing to buy a home has become the gold standard of homeownership in today’s world, but this doesn’t mean going into the buying opportunity without a plan. This is especially true for home buyers who are purchasing a home that will require some immediate work to get the space up to scratch. One great way to circumvent additional capital requirements is to upcycle old appliances. An old fridge can make for a unique piece of a new home if you take the time to think of a novel use for the shell of the old appliance. Working with your family to come up with innovative ways to repurpose old appliances is a fun and beneficial way to make your move more memorable for the whole family.

Tackle home improvement early in your move.

Waiting to take on a home improvement project is a surefire way to overspend or stretch yourself thin when you finally do get around to making the changes to your home. Whether it’s a new roof or a replacement for your air conditioning system, windows, or bathroom tile, taking care of these renovations as early as you can is a great way to create a fresh new home for your family to enjoy while also lumping the financing in with your mortgage loan’s monthly payment structure.

Mortgage lenders are often happy to extend a larger line of credit to you in order to make the home more homely for your family. The intention is that this additional funding will live with the loan through monthly payments for years, but borrowing additional funding at this low interest rate from your lender and then overpaying in the first few years can pay off the funds for these additional projects without much hassle to you and your family.

Spend time with your family.

The moving process is nothing if not stressful, so taking some time when approaching a large home improvement project to evaluate dog-friendly vacations that your pup and family can go on while your team of contractors finish up the work is a good idea to evacuate the premises while the work is going on. A vacation is a great way to recharge and then move into a completed home, and your family will thank you for the opportunity to unwind.

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