Many of us are spending more time at home these days. As a result, you might be thinking about money saving tips to improve your home before winter sets in—whether it’s restoring an old wood-burning fireplace, installing a new bathtub, or upgrading your heating system.

It’s all fun and games planning your project—dog-earing magazines and pinning inspiration—but when it comes time to fund your project, you need a sound financial plan. These money saving tips can help you finance your project in time to tuck in for winter. 

Create a budget for your home improvement project

On average, American homeowners spent $15,000 per household on home improvement projects in 2018. However, you don’t need to invest 5-figures in upgrading your living space. You can do a lot to improve your home’s look, comfort, and function for less than $10,000. 

These small home improvement projects typically cost considerably less than $1,000: 

• Installing new sink faucets
• Updating lighting fixtures
• Replacing your front door 
• Fresh interior paint (if you DIY)
• Upgrading cabinet door handles
• Installing new blinds or window coverings
• Re-grouting bathroom tiles 

For mid-sized home improvement projects, you can expect to spend between $1,000 and $7,500 to:

• Replace your garage door
• Add crown molding to ceilings
• Replace kitchen appliances
• Install a new bathtub 
• Remodel your fireplace 
• Install new carpet
• Refinish hardwood floors
• Install or replace an HVAC system
• Hire professional painters 

Once you’ve priced out your project, you can create a budget and determine whether you need a loan. For example, you can budget as little as about $190 per month to pay off a $7,500 personal loan in 48 months. For a small-scale project, you can plan about $87 per month to pay off a $1,000 loan in 12 months. That’s less than the average American spends on coffee!

Cut costs with money saving tips and strategies

One of the most significant money saving tactics is DIY labor. Almost anyone can paint a room or swap out cabinet handles—and with the help of YouTube, many homeowners are learning how to install faucets and other non-structural fixtures. To err on the side of caution, you should always hire a professional to handle electrical, plumbing, and structural changes. 

You can also save money by buying clearance or open box items, painting or refinishing cabinets (instead of replacing them), and opting for lower-cost alternatives such as composite countertops and white appliances. 

Finance your project with a personal loan 

When it’s time to pay for your home improvement project, DEXSTA can get you from planning to reality with a simple interest personal loan. Whether you need $500 or $7,500, our “whatever” loans are ideal for small to mid-sized home improvement projects. Funding your project with a loan is also an excellent way to build credit. 

Personal “whatever” loans can be paid on terms anywhere between 12 to 48 months. Plus, there are no prepayment penalties—so you can pay off your loan early and bask in the beauty of your newly updated home. 

Ready to tick home improvements off your to-do list? Apply online for a personal loan with DEXSTA.