Remodeling your home can be an expensive endeavor so before you even start, it’s always smart to give considerable thought to how you plan to pay for everything. The following options are some of the more common ways that people finance remodels.
Paying for a remodel with money you’ve been able to save up is the safest way to finance a remodel. When you pay in cash there’s no interest to pay out. Since the amount your savings can earn you in interest is far less than the amount you’d have to pay out in interest by financing, it doesn’t make much financial sense to borrow money in order to keep your savings. The one caveat is that you don’t want to completely empty your savings to finance a remodel either since you never know when a financial setback will occur and it’s a good idea to have a cushion.
Of course, paying for a remodel with cash isn’t always feasible. The average American household doesn’t have tens of thousands sitting in the bank.
This is an obviously riskier way to finance a remodel since interest rates on credit cards tend to be higher than just about any other form of financing. If you’re going to go this route, you want to be absolutely sure that you can pay off the credit cards in a relatively short period of time. Some homeowners who have enough cash to pay out-of-pocket choose to use their credit cards for the perks and then pay them off immediately. When using credit cards, it helps to have a good credit score and try to use the cards with the lowest rates even if there are cards with better perks with a higher interest rate.
Second mortgage or HELOC
Some homeowners choose to borrow against the equity they have in their home to finance a remodel. Since this is a secured loan (the home equity is the collateral) the interest rates are usually 2-3 times lower than the rates on credit cards. This is a cheaper way to borrow long term but in some ways, it’s even more risky. If you default on these loans, you risk losing your home to the bank. Though a second mortgage and a home equity line of credit (HELOC) are similar, there are some important differences so make sure to consider both options and choose the one that’s best for your cirumstances.
A personal loan may be a good option if you have an excellent credit card. Personal loans are unsecured so there’s no need for collateral but they’re difficult to get with a lower credit score and if you are approved, your interest rate will be quite high. With an excellent score, the interest rates are usually a little better than the interest rates on credit cards.
All forms of borrowing money carry inherent risks. If you don’t have the cash for a major remodel and you’re nervous about borrowing, there’s no need to despair; there are plenty of small-scale home improvement projects that you can do as you work on building up your savings. You can repaint your home’s interior or install baseboard heater covers.
Selling a home can be a very stressful experience. If you don’t want to hire a professional to do it for you, then consider the following ideas-
The following DIY secrets can help you with your redecorating and home improvement, get great results with limited funds...
Measure the height from the floor to the top of the metal wall plate.
Follow our guide for baseboard heater cover measurement:
Any baseboard larger than 7 3/8" will be compatible with our standard cover.
Any measurement greater than 9 3/8" will fit our tall cover.
Measure from the bottom of the finned tube heating element to the top of the metal wall plate,
A measurement of 5 1/2" to 6 3/4" will fit our standard cover.
A measurement of 7 1/2" to 8 3/4" will fit our tall cover.
Measure the distance from the wall or the metal wall plate attached to the wall, to the outside of the finned tube heating element.
Any measurement of less than 3 1/8" inches from the wall will fit our
Any measurement of less than 3 1/8" inches from the wall will fit our tall cover.
EZ Snap™ Wall Widgets are used when your old or existing wall back plate has been removed or if you have to hang your new cover 1 inch or higher to bring them up to a height that will fit our installation guidelines. Just use the self-tapping screws to secure them to the top of your existing wallplate.
EZ Snap™ Floor Fidgets easily raise your new covers ¾ inch to compensate for any ¾ inch floor (wood, tile, or other) that has been installed any time since your baseboard heater was originally installed. May be used for any reason when the overall height has been shortened and the total height is less than 7-½ inches for standard height or 9-½ inches for the TALL height EZ Snap™ BaseBoard Covers. Just measure your overall desired height, subtract 1", drill a hole, preferably in a stud and attach it to the wall with the included screw.
EZ Snap™ Wall Contraptions are used when your wall back plate has been completely removed. EZ Snap™ Wall Contraptions receives your EZ Snap™ BaseBoard Cover and keeps your aluminum fin tube from sagging. These completely replace your wall back plate. To install, slide up from the bottom and make sure the top is at your desired height. Screw to the wall, then bend the front finger up to hold the fin tube in place.
Measure from wall to wall and subtract ½ inch (to allow for wiggle room when installing your new covers.) The endcaps can be pulled or slid ½ inch outward on either end to fit your existing length requirements. Choose 2 flush to wall end caps.
Measure the overall length of the existing unit with ends attached then subtract ½ inch (to allow for wiggle room when installing your new covers.) The endcaps can be pulled or slid ½ inch outward on either end to fit your existing length requirements. Choose 2 Closed or Open-end caps.
Measure from the corner to the end of the unit with ends attached then subtract ½ inch (to allow for wiggle room when installing your new covers.) The endcaps can be pulled or slid ½ inch outward on either end to fit your existing length requirements. Choose 1 Closed or Open-end & 1 flush to wall end cap.
Measure the left side from corner A to corner B (see diagram). Then subtract 3 inches for the 90 degree inside corner, then subtract another ½ inch (to allow for wiggle room when installing your new covers.) Repeat for the right side if also wall to wall. You need to subtract a total of 3½ inches from each side that is wall to wall. Choose your end caps.
Measure the left side from the corner of the wall to the end of the unit with ends caps. Then subtract 3 inches for the 90 degree inside corner, then subtract another ½ inch (to allow for wiggle room when installing your new covers.) Repeat for the right side. You need to subtract a total of 3½ inches from both left and right sides. Choose your end caps.
L-Shaped outside radiators ending in the middle of the wall:
Measure from outside corner of the wall A to the end of the radiator unit with end caps attached B, then subtract ½" (to allow for wiggle room when installing your new covers.)
Measure from outside corner of the wall to the corner of the wall, then subtract 1/2" (to allow for wiggle room when installing your new covers.)
Left leg - measure from the corner out to the end of the radiator subtract 3" for the corner and ½ (to allow for wiggle room when installing your new covers.)
Center leg - measure from corner to corner and subtract 3" for each corner a total of 6"
Right leg - measure from the corner out to the end of the radiator subtract 3" for the corner and ½" (to allow for wiggle room when installing your new covers.).
We recommend that you order covers a little longer than normal and cut them on site, as there are many opportunities for mistakes in measuring and installation. By cutting on site you can fit and cut to fit. The covers can be cut with a good quality jigsaw and a fine metal cutting blade.
Now that you’ve learned how to measure baseboard heaters,
you’re ready to order.