Home Improvement Tips

Here are some home improvement tips for the bedroom, bathroom and patio.

Bedroom

Photobucket

Bedrooms are important part of the house as these are where family members rest and sleep. Sometimes, when a bedroom doesn’t seem to be inviting anymore, it must need a makeover. To redo the looks of a bedroom, it requires rearranging furniture and adding or subtracting objects. The bed is the basic subject for improvement. A saggy and too small bed may not be good for a growing person anymore; thus needs to be changed. Now to change a bed, it is necessary to consider the life-span of the bed, the size and the style. There are beds that could last for 10 years or more. Buying this kind will save money in the long run because homeowners do not need to change beds every 2 years. The size depends on how big the person is using it or how many are actually sleeping on the bed. Of course the style matters as it should complement the whole layout of the room.

 

 

Bathroom

Bathrooms should be clean and neat all the time as this is where molds and bacteria first develop. The first things that are normally changed in a bathroom are the curtains, mirrors and other decorations that set the mood and theme of each bathroom. Also, water and lighting systems are changed too if needed. Normally, when a household is cutting on the utility bills, all light bulbs are changed to compact fluorescent lamps (CFLs) or energy-saving lights.

Patio

The patio is the place where small retreats, meditations and barbeque parties are normally done. A home may not have a patio; thus when a need to have one is seen, a construction is done. To build a patio, it is necessary to consider the use of the facility. For example, if patio will be used more for evening parties, it should be built with closures as protection from the rain. Otherwise, an open deck will already be enough.

Improving Home Through an Equity Loan

Improving home is easy with home equity loans that allow borrowers to borrow money from a bank or lending institution on top of what they are currently paying on. Home equity loans are normally used to finance home improvements, college tuitions, bills, or any other emergency expense. This type of loan is more commonly referred to as second position liens or 2nd mortgage given that it is guaranteed against the value of the property. A home equity loan uses the equity of the borrower’s home as security or collateral. What is good about home equity loans is that they create a security interest or lien against the borrower’s property and lessens the actual equity of the property.  

Not all individuals qualify for a home equity loan. Only those with good credit history or rating and financial capacity are granted approval. Granted loans are given in lump-sum with fixed interest rate. Practically, the interest rate is based on the prime rate and additional margin.  

Borrowers are advised to learn and be well-versed with some important terminologies such as recourse and nonrecourse loan; dischargeable and non-dischargeable debt; and secured and unsecured debt, as these terms are often used in home mortgage loans. A nonrecourse loans or debts refer to a secured loan or debt guaranteed by collateral, usually real property, but for which the borrower has no personal liability. A recourse loan on the other hand makes the borrower liable as opposed to nonrecourse. Knowing and understanding all important terms enables each borrower to explore all the best possible loans for his or her capacity.