Money Talk
If sunny days are getting you in the mood for some DIY, you might wonder if your hard work will boost the price of your home.
You might think of putting in a new bathroom, giving the garden a makeover or a spot of decorating – but tread carefully. According to GoCompare Home Insurance, some projects may make you very little money.
Updating a kitchen or bathroom is a big project and costs can outweigh any potential added value according to GoCompare. However having a new boiler or central heating installed can prove a property price booster.
Use the handy Property Investment Calculator WWW.GOCOMPARE.COM/HOMEINSURANCE/ to work out the potential profit from some popular home improvements. Just pop in the current value of your home and your renovation budget and it works out whether you’re likely to make money after taking off the cost of the job.
If you are splashing out on DIY projects and need to borrow some cash, here’s some handy ways to borrow interest-free.
Homebase and B&Q both offer 0% deals on finance for DIY projects from £500, with terms typically over 2-3 years.
For a short term loan which you know you can pay off within a couple of years, look for credit cards with 0% deals on new purchases. This way you can borrow for up to 30 months, and repay the money interest-free.