Finance or credit

[isitmyturnyet]

Just wondering what things people save for and what they pay on finance when it comes to home improvement purchases.

I’ve so much I want to do to my flat, (new kitchen, new DG in living room, general redecoration) so that I can get a better price when I sell in a couple of years, but it feels like I’ll never get there saving on my income.

We are renovating our flat too. Anything that increases the value of the flat - kitchen, bathroom, lease extension etc is being paid for with credit. Anything that moves if we sell or depreciates as soon as it’s paid for - furniture, sofa, white goods etc is paid for with savings a bit at a time. These things we don’t need, so can wait.

Thanks Kaniel. I hate the idea of getting into debt now that I don’t really have any (mortgage and OD aside), but saving that kind of money will take me ages and I’m sick of the sight of the bits that really need done!

Thankfully, I had a slight windfall which let me pay for my new bathroom.

Have you thought about buying a second-hand (but nice, expensive) kitchen and fitting it on yourself ("DIY")? IKEA kitchens are also good, easily fitted and adapted.

Be aware that you may not increase the sale price, just make it easier to sell. And if the new kitchen isn't to the buyers taste ( e.g cluttering island, back killing butler sink, fiddly bits on cupboards, high maintenance surfaces, excessive spotlights, whirly things in cupboards etc) you could reduce the value of the place.

Believe me, fitting it myself is not an option I have been looking at DIY kitchens, some lovely ones on there, but delivery is an issue (4th floor flat). Shall look at IKEA though.

I see what you mean about not necessarily increasing value Specialist. The new kitchen will be quite minimalist and not expensive as the value of my flat is very low anyway, and the kitchen small. I just want something simple and neutral that I’ll enjoy using, and which will put me in a better position for selling in a couple of years