Home improvement costs can quickly add up, but expense alone shouldn’t stop you from securing upgrades that will benefit your family and quality of life. Instead, consider a few creative financing options to help you tackle home improvements. Here are three ideas to keep in mind.

How to Finance Home Improvements

1. Pay With Cryptocurrency

Some contractors will gladly accept cryptocurrency. If you don’t have a large-scale project in mind, but want to tackle a few small upgrades around the house, financing the expense with cryptocurrency may give you the flexibility you need. The value of a cryptocurrency changes, depending on conditions in the market. If its value is rising faster than money you have invested in traditional securities, such as a certificate of deposit (CD), you may more easily afford improvements if you pay your contractor with cryptocurrency.

2. Get a Second Job

Taking on temporary work will help you save for a future project, such as the addition of a deck in summer or window replacements in fall. If you set aside earnings from a second job, you’ll amass enough to comfortably afford some of the costs.

Think outside of the box. You could rent a room in your home, become a driver for a ride-sharing app, or deliver pizzas.

3. Get a HELOC

A home equity line of credit (HELOC) is a sensible choice for financing home improvements. A HELOC allows you to tap your home’s equity without refinancing. Your house secures the loan amount. You won’t have to think about the high-interest fees associated with credit cards. Also, HELOCs are tax-deductible, up to $100,000, so long as the money is spent only on renovation and improvement projects.

Are you ready to tackle some home improvements? Turn to Naugle Construction Company in Boone County, MO. This family-owned construction company offers a variety of services, including deck building, kitchen and bathroom remodels, screen porch additions, and concrete repairs. Visit them online for more information about their interior services, or call them at (573) 474-9444 to speak with a staff member today.