Keep Home Improvements From Demolishing Your Budget
Owning a home can be expensive, and monthly costs can be volatile. You can prepare for your mortgage payment, but if a leaky roof catches you off guard, your entire budget could be thrown out of whack.
According to the 2018 Home Improvement Report from NerdWallet, only about 30% of homeowners have money set aside for home repairs & improvements. U.S. Census suggests Americans spent $449.5 billion on home repair / improvement projects in 2016-2017, so it's a good idea to have some money set aside.
“It feels great to have cash on hand to pay for home improvements,” says NerdWallet home expert Holden Lewis. “But there are other ways to pay for home improvements and ways to ease the stress of an already stressful time.”
Here are a few we'd like to share (learn more HERE):
1. Always have a plan
2. Add to your emergency fund
3. Act quickly when it comes to repairs
4. Know your financing options
5. Consider doing it yourself
6. If you go pro, do your research
The article How to Keep Home Improvements From Demolishing Your Budget originally appeared on NerdWallet.