Home Improvement Loan or Personal Loan

Personal Loan or Home Improvement Loan? That’s the question.

We love decorating our houses.

And there are phases in our lives when maybe we’ve spent too much time watching Food Food or TLC and thus have built castles in the air of visions of turning our kitchen into a chef’s paradise. Or perhaps our master bath is just one shower away from a disaster. For we really do love Italian tiles on our bathrooms.

And if so, then cheers, you’re not alone. Recently, the Joint Center of Housing Studies for Harvard University has investigated and reported that the home improvement industry should continue post record-level spending in 2016. For many people, this means borrowing money to pay for the well planned home improvements and home decorating schemes .

Now, one is ought to face a tough and difficult and perhaps a hypothetical question.

So, which home improvement loan is right for you?

Many homeowners and homemakers look to tap the equity in their homes. But home equity loans or home equity lines of credit may not be possible or very practical for some borrowers. In that case, one should consider using a personal loan.

While it is known that one can use a personal loan for a variety of reasons, there are a few reasons why a personal loan can have advantages over home equity loans when it comes to a renovation loan, to be specific.

The application process for a personal loan is usually quite simple and quite straightforward. … Read More

Tips On Home Improvement Or Renovation

Most of the time, it is nice to come home to a relaxing and nice home. Are your always struggling to fix problems with fixtures, door handles and cracked walls and ceilings? Maybe it’s time to do some home redecorating and improvement, buy new restoration supplies in Sydney and think about new creative ideas for your home. Budget and time can be a concern for some folks so to make things simpler, you may want to consider these basic tips that can help you with your future renovation plans.

Reduce the Clutter

The things that make your home feel so disarrayed and out of order are the clutter. Some people can’t let go of some stuff that are not exactly very useful and decorative. Furniture or materials that you hardly ever use can be thrown out or donated to charity. You can even try to sell them and use the money for your home restoration project.

Contractors vs. DIY

Hiring a designer, contractor or renovator will make your home improvement plans easier and faster. These people can give you expert inputs on the design, style and functionality of your home. Let them know what you want for your home and they will do the rest for you. But the professional service and labor that they will be providing also come with an expensive cost. If you don’t have the much budget, you can search for various remodeling ideas and tutorials online. Painting your own walls will save you the extra … Read More

How to Manage a House Construction Project

After you have your architectural design approved by the local authority, the next step is to commence construction work.

Careful selection of your building contractor is crucial. Invite several reputable building contractors to quote on the blank Bills of Quantities and give a specific return date for the quotes.

With the help of your architect, analyze the quotes in terms of previous similar works performance, time period to finish the contract and the pricing.

Construction contracts are available at the architectural association of Kenya offices, professional centre, Nairobi.There is a provision for a performance bond to bond the contractor to carry out the works as specified and within a given time frame, failure to which he forfeits a specified amount of money, usually 5{a35e9624d39d09a786c5f8acdb55c526966431d9c107db63c11fc3d9ba4fafc9} of the contract sum.

Once the building contractor finishes the contract, the architect inspects the works and if satisfied, he issues a practical completion certificate to certify that the works are practically complete and the owner can move in to the house. This document enables the building contractor to get back his performance bond from the bank.

The construction contract also specifies the amount to be retained from each payment, usually 10{a35e9624d39d09a786c5f8acdb55c526966431d9c107db63c11fc3d9ba4fafc9} of the contract sum. Once the contractor is through with the contract, half of the retained amount is paid to him and the other half is paid after 6 months-this period is known as the defects liability period. This retention will be used to rectify any damage that might occur after 6 months from … Read More