BEFORE YOU START
Credit cards are convenient but expensive for larger projects. They are fine for small jobs such as redecorating – especially if you pay off the amount in full.
If you lend to members of your family, it’s best to create a repayment schedule at the start to avoid arguments later on.
Equally, it’s easier to borrow from parents or others if you offer them a clear and regular stream of repayments.
Always check the cost of bank loans before undertaking costly upgrades. They are almost always more affordable than credit cards.
Upgrading the electronics in your home does not count as a real home improvement because you can generally take them if you leave. And the average lifespan of new gadgets is low.
Don’t over-improve unless you intend to stay – subsequent purchasers probably won’t appreciate top grade everything – or pay for it...
IF you raid rainy-day funds, be sure to put the cash back as soon as possible.