We bought a 2 bed Victorian terrace house that was in need of renovation.
Nothing structural and no major changes. Just full decoration, replacement kitchen and bathroom.
We saved £15k to cover the work.
So far most things are coming out on budget, but there have been a few major plumbing and electrical and damp problems that have come to light since starting which will add another £4k to the work.
The house is not in a liveable state and we are staying with family until the work is done which should be in 4 weeks time roughly.
What would be the best way to finance the shortfall on the renovations? We are expecting a small windfall that would cover the shortfall but not for another 6 months or so. I would put the shortfall on my credit card as it’s has a very low APR rate but trades don’t typically accept payment by credit card.
Is my only hope a loan?
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Funding a renovation project
2 replies
dilapidated · 23/02/2017 11:34
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