How to Pay for Home Improvements

Whether you’re looking to build a new fence, re-do your kitchen, or have a new roof put on your house, the costs can be daunting. While it’d be nice to pay cash for your upcoming project, that’s not always possible. In this article, you’ll learn about the different financial tools you can use to fund your improvement projects.

Home Equity Line of Credit (HELOC)

A HELOC is one of the most versatile products you can use to tap into the equity of your home. This product gives you the flexibility to borrow when

By Paul Cover WECU Home Lending Skagit County

you need it, rather than taking a lump sum all at once. A HELOC is a revolving line of credit that is secured by your home. Its flexibility makes it a great choice for all types of home improvement projects. Large and small, simple or complex, the HELOC provides peace of mind knowing you have funds in reserve to meet the demands of most improvement projects.

Interest rates: Rates are variable and range from interest only, to principal and interest payments on any outstanding balance. However, WECU’s new product will allow you to lock your interest rate and term to fit your individual needs.

Best for: Large purchases, long term financial planning, providing a safety net, home improvement, and more.

Home Equity Loan

A home equity loan allows homeowners to borrow against the equity in their homes with a fixed rate and term. Like a HELOC this is also a popular option for either homeowners who want to tap their equity but retain their first mortgage rate, or those who own their homes free and clear and want to make home improvements or consolidate debt. They may even be less expensive than a conventional cash-out refinance.

Interest rates: Fixed. Often a lower interest rate than a personal loan or credit card. Best for: A larger project with a specific end date, such as a roof replacement or kitchen renovation.

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Combining dark and light colors creates a contrasting design and allows for substantial flexibility for accessorizing or accenting with a mix of colors to tell a story.

There is no answer to which design (dark or light) is better. Depending on how a room is styled, a dark or light choice can be one of the most simple, classic, and influential ways to design any interior, while the use of both shades can create a clear, powerful, and modern design.

Avoid Crushing College Debt.

For many individuals, the high cost of college outweighs the benefits. In the 2020-2021 school year, more than half of bachelor’s degree recipients from public and private nonprofit four-year colleges and universities graduated with debt and had an average debt level of $29,100, according to the College Board’s Trends in Student Aid 2022 report. Technical education offers an alternative to the fouryear college track without the burden of sky-high student loan debt. And there are numerous “earn while you learn” apprenticeships available, so you don’t have to wait to complete a training program to generate income.

Escape the Daily Doldrums.

Professionals working in the trades are problem solvers and critical thinkers. Each day has new tasks and challenges that are an ideal match for any talented individual. For example, critical thinkers and detail-oriented individuals would excel as carpenters, ensuring materials are exact; and those with exceptional analytical skills are qualities found among expert electricians and plumbers.

Trades are for Everyone.

More women across the country are becoming a part of the residential construction industry. According to an NAHB analysis, the number of women employed in the construction industry increased to over 1.24 million in 2021. Women make up 11% of the construction workforce, the highest share on record. Generally, a pay gap exists between men and women across most industries in the United States., where women earn 80 cents for every dollar a man earns. However, the gap is much smaller in the construction trades. According to the Bureau of Labor Statistics, women in the construction industry earn 97 cents for every dollar a man earns.

Container Gardening

Even if you have no yard, you can still enjoy food gardening, whether it be on your porch in a container, or inside your home.

Sun: Vegetables need at least 6-8 hours of sun each day. Fruits will not riped without adequate light. You may supplement with grow lights, of which many

Soil: Vegetables need soil rich in organic matter. Soil quality impacts not only the growth of leaves and flowers, but the taste of your vegetables.

Companion Planting: Choose the right combination of plants for better harvests! Lettuce will keep producing if offered some shade from a friend.

Plants with early harvests, like radishes, can be planted with later harvested peppers.

Is your small backyard causing you planning problems?

Not sure how to make the most of the space? If you have a small backyard, you may be wondering how to design your garden and still have enough space for kids and friends. You needn’t worry. There are many ways to enjoy nature and the great outdoors, even if you have a small backyard. With well-arranged flowers, decorative pottery, and small shaded areas for entertaining, you can transform your small, cluttered yard into a beautiful oasis.

Small Backyard Plans for Simple Living

People today are leading busy lives. This hardly leaves time for things we enjoy. So, people are choosing an avenue

Landscaping Ideas

towards simple living. Taking this concept a little further, and set the stage for simple planting. This basically means not cluttering up your small backyard. Instead, space out the tree and shrubs in such a way that there is still sufficient space to move around and create a haven that becomes your escape for privacy, quiet, and tranquility when you want it. Moreover, when deciding your small backyard, be sure to pay attention to the type of shrubs, trees, and flowers you want in your garden. Take into account, their growth pattern, as it could crowd your backyard and make it appear even smaller than what it is. Remember the maxim – less is more in this case