How to Finance a DIY Home Project

If you have purchased a home that doesn’t quite have all the features you need, or if your present home needs updating, you may have a number of DIY home projects in mind. If you know your way around tools and materials, you can modernize a bathroom, create a dream kitchen or add a room to your house for less money than if you hired a contractor to do the work. 

Financing your DIY project can be done in a number of ways, if you are willing to contribute to the labor yourself.

Planning Your DIY Project

You can look at plans on the Internet to understand the various components of the project. In addition, you may wish to customize the project for your own family’s needs, which can take additional time and labor. 

Financing your project can be done by purchasing materials in cash from savings, from a home equity loan or by putting it on your credit card balance. However, keep in mind that most credit cards have a higher interest rate than a bank loan, and make sure you can pay it off quickly to avoid getting into a serious debt.

Buying Materials for Your Project

Comparative shopping for the materials required for your project can save you a significant amount on your costs. Smaller lumberyards may be willing to offer a better deal than the large home improvement store in your area. 



When choosing flooring, bathroom tiles and other items, keep your needs in line with your budget. You can quickly go over your expected cost by falling in love with high-end materials. Take advantage of pre-assembled sections that can save you time and money, such as prefabricated roof trusses from a company like Prefab Technology Pty Ltd that will help you quickly frame your home addition.

Determine Your Labor Needs

Determining the time your DIY project will take can be difficult. There are always unexpected situations that occur that can hold up your schedule. Based on the type of work that must be done, figure out the amount of time that each leg of the project will take. Add another ⅓ of time to this figure for sorting out problems or getting special help that may be needed. 

If you are doing your project on a part-time basis, this calculation may extend your completion significantly. But if other parts of the project go smoothly, you will be able to make up some time.

Contracting for Specialized Help

Some tasks for your DIY project may be more technical than you can readily do yourself, such as electrical work or plumbing. Scout a few local contractors that would be willing to assist you with the work, possibly in their slower season. This measure will ensure your project receives the expert assistance you need for safety and proper code compliance.

When your DIY project is completed, you will feel a sense of accomplishment and satisfaction. Even the problems you encounter along the way will provide a deeper understanding of home improvement. With your careful planning, hard work and attention to detail, you can create greater function and increased value for your home.