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It’s Time to Prepare for Home Improvement Projects

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Homeowners have what seems like a never-ending list of need-to-do and want-to-do home improvement projects. From regular maintenance and repairs to protect your home’s value, to bathroom updates or additions to potentially increase value. The reality is that all renovations and repairs cost money and there is some serious time and planning involved if you want the project done right.

The best place to start is with an energy audit, which will help you determine if there are ways to fix up your house and save money through better efficiency. Your more efficient home will save money so you’ll have more money in your pocket over time, which can be a way to fund your “want projects”! Next, pick a project and determine if the cost of the project fits into your budget now or if you should wait.

Whether you plan to finance all or part of the cost, the project will impact your monthly budget. When it comes to the “how do we pay for this” part, reach out to a trusted loan officer. A loan officer can help you determine what is affordable for you, which will help you decide if the time and project is right.


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Once you have a project and you know your budget, your next steps could include the following:

  • Find a good contractor.
    • Check references.
    • Get a quote or multiple quotes.
    • Haggle to save money.
  • Decide if you will do some, or all, of the project.
    • Schedule the project.
    • Choose fixtures, wall colors, etc.
    • Prepare for the unexpected.

Keep in mind that financing may become a hurdle if you don’t plan for it. Financing takes time, so deciding when to seek a loan is key to a seamless project.

All home projects are different, so ask your contractor how long he or she expects the work to take. If you will do the work yourself, make your best guess as to the time it will take you to accomplish the project. Applying for a loan after the project has started, without accounting for financing time can add unnecessary stress and delays, so make sure you factor in plenty of time to secure funding.

Many homeowners choose to finance their projects using home equity. Financing your project using your home’s equity can be easy with a little planning on your part. Speak with your loan officer to determine whether this option is right for you.


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Alicia White

About Alicia White

Alicia White has over 14 years of lending experience and specializes in home equity loans and home equity lines of credit. She lives a “simply great” life in Danville with her husband, son, two dogs, chickens, and bees. NMLS ID# 204489; VSECU NMLS ID# 416195
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