Ashley Corn May 5, 2021

Does your home need a renovation? You must not delay it considering the budget issue. You can always get a home improvement loan from direct online lenders. But the bar of its security is a major concern.

Let’s find out whether it is safe to apply for home renovation loan.

Should you count on home improvement loan?

Availing loan for your home renovation instead of paying in cash is better in any instance. It will protect your savings, and will prevent lumpsum cash payout at once.

Further home renovation loans come with its own set of benefits. The whole cost of your renovation splits into monthly installments if you go for home renovation loan. In addition, most of the online lenders offer easy loans in UK with high loan amount, quick disbursal, and flexible repayment option.

While choosing the loan package, consult thoroughly with your lender or read through the website in order to understand the details.

Once you decide to take the loan, that’s when you should start budgeting to reduce the renovation cost. Try to renovate as much as you can within a minimum loan amount.

Best Ways To Cut Short Your Renovation Cost

Although home improvement is a costly affair, the cost can be reduced a little with proper planning and execution.

Whether you’ll renovate within £50,000 or £500,000 depends on smart planning. This article contains a few exciting ways to cut short your renovation budget.

  • Understand the building condition

    Before stepping onto the renovation works, it is essential to understand the fabric of the house. Different house may have distinct quirks --- all that you have to tackle throughout the process. It becomes more and more necessary if you are refurbishing a period property.

    The condition of your house proffers a great influence on the renovation budget you allocate. While one home may require minor cosmetic alterations, other house will need substantial structural work.

  • Plan-out your renovation goals

    Jotting down the necessary renovation works is one of the foremost things to be done. It ensures that the renovation cost is spent in the requisite sectors. With your priorities set from the very beginning makes it less likely to waste your money on unnecessary features. In other words, it prevents non-essential spending in subservient works.

    Balancing the budget and using it wisely for any renovation work are the key factors behind any renovating work with limited funds.

  • Do a little survey before finalizing renovation works

    Taking your time in surveying the whole house will allow you to uncover all the renovation works that are required on an immediate basis. This will help to save money on future unforeseen costs.

    You can even consult a building surveyor to get a clear and detailed drawing of your property. In case your renovation scheme requires planning permission, then the architect needs to conduct flood risk assessments, ecological evaluations, etc. which can latter save a lot of cost.

  • Employ a professional designer

    Seeking the help of an expert designer in renovation works may seem a costly affair to you, but it has a big hidden benefit. Initially, you’ll see an increase in your outlay but their expertise will prevent future mistakes. Ultimately, there will be a certain decrease in the overall renovation cost.

    The experience and knowledge of the professionals will bring you some unique, clever ideas you’re unlikely to have considered.

  • Get rid of unknown renovation cost

    During renovation, multiple new edges will popup, thereby increasing your overall cost. In order to avoid such unexpected expenses, it is always better to consult a professional architect. The expert can help to reduce unknown renovation cost during the course of the project.

    Also, keep in mind to set aside a well-balanced contingency budget. Even if your renovation cost exceeds a bit, it will be within the contingency limit.

  • Think about DIY renovations

    Once the renovation goal is ready, check how far you can do yourself. Basic decorating, tiling, and sanding floors come within the limit of DIY renovations.

    If you can manage most of the works, it’s better not to appoint architects and labors. As a result, you’ll be able to save a lot of money, which means you won’t need to apply for a huge loan amount.

  • Get a clear idea about the renovation cost

    Before applying for the loan amount, you should know how much the renovation will cost. In many instances, it has been found out that unusual costs creep up during the renovation. To balance those and keep a tab of the upcoming expenses, it’s essential to list down all the renovation works. As a result, you’ll understand how much to issue for home improvement loan. This will even help you figure out the monthly installments, terms, and other necessary details.

    Above are the seven ideas that you can implement while cutting down the home improvement loan amount. More the reduction, the lower will be your monthly interests.


Home renovation is an essential annual expense as well as it is an expensive engagement. Applying for a home improvement loan is one of the wisest ideas. But ensure you borrow the least loan amount needed for the renovation. It will further help to reduce your repayment amount and term.