Kitchen and Bathroom Renovation

How to Finance a Bathroom or Kitchen Renovation?

Purchasing quality fixtures, finding new hardware and covering other expenses make home renovation an expensive process. Therefore, all property owners should carefully choose the appropriate method of financing their renovation.

Home Improvement Loan

Home improvement loans are an excellent way to pay for your home renovation. They will provide you with funds not only for renovating your bathroom and kitchen but also help you repair or replace the roof, buy decorative elements in the salon, add a new room and more.

Even if your credit rating is not perfect, you can still find home improvement loans with bad credit from numerous lenders. Many lending institutions do not have minimum requirements for credit ratings, which helps even those with bad credit to get approval.

The main conditions for obtaining a home improvement loan are listed below:

• Be a U.S. citizen or permanent resident;
• Have a stable source of income (at least $1000);
• Have an active bank account.

Home Equity Loan

Another good option for financing your home renovation is to apply for a home equity loan. It allows you to borrow money for kitchen or bathroom renovation, offering your house as collateral. Lenders do not conduct strict credit checks since they can benefit from the property.

Personal Loan

Personal loans are another great way to finance home renovation. Borrowers can apply for this financing option through traditional banks, credit unions or online lenders. Unlike other borrowing options, personal loans are usually available to people with good credit ratings. Therefore, if you need additional cash, you may need to improve your credit rating.

As an alternative, you can find secured personal loans that require your property or car as collateral.

Additional Funds

If applying for a loan does not meet your needs, you can use your additional funds for kitchen and bathroom renovation. Tax refunds, dividend payments, cash from your bank account — home renovation is a great investment for your savings.

Applying for loans can often be costly and require additional interest payments and extra fees. Moreover, there is always a risk of falling into a debt cycle if you do not repay your loan. Therefore, it is recommended to use savings instead of taking a loan.

How to Organize Kitchen or Bathroom Renovation?

Creating a kitchen and bathroom renovation requires a certain strategy. Therefore, if you want to create a new space, you need to follow these steps:

#1. Determine the Scope of Renovation

When renovating a kitchen, what to do first? The answer is simple. If you decide to change the appearance of your kitchen or bathroom, the first step is to determine what you expect from the renovation before creating a project. Pay attention to the following elements:

• Lighting;
• Shower cabin/bath;
• Sinks;
• Layout;
• Kitchen and bathroom doors;
• Plumbing fixtures;
• Windows;
• Countertops;
• Flooring;
• Kitchen backsplash;
• Cabinet organizers;
• And others.

#2. Set a Budget

Determining the budget is one of the most important elements of bathroom and kitchen renovation. The more you can invest in renovating these spaces, the more thorough your renovation will be. Additionally, the budget for kitchen and bathroom renovation affects the quality of materials you can afford.

Generally, bathroom renovation is cheaper than kitchen renovation, even if the room size and finish quality and fixtures are identical. Therefore, it might be better to start home renovation with plumbing work, installing new lighting and tiles in the bathroom, buying new cabinets and other bathroom renovation items.

Create a Design

Proper design is one of the most important steps in creating a renovation project for bathroom and kitchen. Although this task can be challenging to do on your own, you can always work with a designer. They will analyze your preferences and help you create the most comfortable space in your life.

There are many excellent ideas for bathroom and kitchen interiors online, allowing every family to find a suitable option. Pinterest is one of the most popular platforms for finding kitchen and bathroom renovation ideas. It provides you with many photos of various kitchens and bathrooms, inspiring you to create your own renovation project. Create boards with different design elements of your home renovation. For example, you can name them "Sinks and Faucets", "Shower Ideas" or "Tiles".

When meeting with a designer, it will be much easier to explain your expectations for kitchen or bathroom renovation by showing bookmarks or other images from the internet.

Consider Convenience

When planning a kitchen or bathroom renovation, you need to consider your convenience. Renovation usually means the room will be inaccessible for several weeks or months. This situation is more pleasant for those with two or more bathrooms. But if you only have one, the renovation process can be problematic.

However, many companies offer to remove a toilet so it remains functional and avoids many inconveniences related to renovation.

It is impossible to avoid inconvenience when planning kitchen renovation. You will need to arrange a temporary kitchen in another room. This is not a big problem if you have a basement or another place where the family can gather. If you do not have suitable indoor space, you can renovate your kitchen in summer to set up a temporary kitchen outdoors.

Consider Your Family's Needs and Preferences

If you live with a family, it is important to consider their needs and preferences when planning your home renovation project. Even small things like purchasing countertops and cabinets, choosing tiles, type and color of paint for walls play an important role.

If you have children, it may be important to give them the opportunity to make a room with you. Let them help you choose paint or create a renovation project together.

Pay attention to accessibility when creating a renovation plan. Even if you have a family member with limited mobility, there are many interesting ways to renovate spaces according to their needs. For example, you can change the layout of the bathroom and kitchen, remove barriers or install a barrier-free shower.

Consider comfort and safety of furniture in your home. Ensure that children can open necessary cabinets and all space is safe for them.

Obtain Required Permits

Construction without approval from the department or permits is illegal in the USA. We recommend working on obtaining all required permits to avoid fines with additional penalties and interest charges. Moreover, homeowners can be charged criminally for violating these laws.

Why Do You Need a Designer for Bathroom and Kitchen Renovation?

Although home renovation is considered expensive, people usually want to save as much money as possible. Therefore, many decide to do home renovation without a designer. However, this is often the wrong decision since working with a good contractor can bring many benefits.

Designers will help you find quality materials and fixtures for your renovation projects and save money with energy-efficient appliances. Although finding a good contractor may take time, it is often an excellent option for quick kitchen or bathroom renovation. Clients provide the designer with their preferences, and they begin renovating their home. You no longer need to worry about buying the right materials, choosing cabinets, thinking about tile colors, searching for suitable countertops and so on.

However, pay attention to choosing a good contractor who will not take your money and leave the work unfinished.

In Conclusion

It is very important to consider many elements when organizing kitchen and bathroom renovation. Installing plumbing, purchasing quality fixtures, choosing new hardware and visiting the salon are just a small part of all actions you need to take for good bathroom and kitchen renovation. Stick to your budget, save money on unnecessary items and don't forget to work with professionals — all these steps will help you organize your construction project in the most efficient way.