A residential remodel is the perfect time to upgrade your lighting and wiring. Not only does it make the job easier since drywall is being taken down and new walls are being erected anyway; it also makes the project more cost-effective because it’s bundled with other renovation work. There are several financing options that you can look at; with credit cards being the best for small upgrades like a handful of bulbs and renovation mortgages being best for large-scale lighting upgrades. If you’re interested in learning all the ways that you can finance a lighting upgrade project and what you should consider, this is the perfect blog for you.
Financing New Lights With Residential Remodels: Exploring The Best Way For You
installing new lights during a kitchen upgrade or a room addition is the best way for a comprehensive project. but new light fixture installation—complete with wiring and circuits—isn’t exactly cheap. So, what do you do? Since rescheduling the light fixture installation is just an unnecessary and expensive hassle, there are a few things we recommend you consider.
Here are a few ways to finance your light fixture installation.
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Home Equity Line Of Credit
HELOCs or home equity loans are the best way to finance a large and on-going project. they use your equity in your house as leverage and usually have a much lower interest rate than unsecure loans. They’re quite flexible, with homeowners able to draw more cash as their requirements grow during the project.
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Home Improvement Loans
But, if it isn’t a major project that you need finance for—maybe a room or two that needs a few new light fixtures—how about a personal loan instead? These are faster to acquire than secured loans and don’t even use the house as collateral. They do have a higher interest rate though, so be mindful when you go this route.
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Renovation Mortgage
On the other hand, if it’s a home that you’re buying and need to alter before moving in or maybe it’s a refinancing plan for an existing mortgage, there are programs like the Fanny May Home Style Renovation Loan that combines the house’s price and upgrades into a single mortgage program.
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Contractor Financing
Yet another option you have is to select a contractor that provides its own financing plan. These often come as a result of promotional campaigns and have pretty flexible conditions; making them ideal for many residential clients.
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Credit Cards
A simple option for a simple project. if it’s a small light fixture installation project you have and you don’t have the funds readily available, you could simply charge it to your APR credit card. Just watch out for the limited window of payment and you should be good.
Perks Of Bundling Light Installations With Renovation Work: Why It’s Such A popular Route
So, you see, there are several financing options out there to help you set up new lights during the rest of your renovation. But why go for this route in the first place? While you might think for a minute that you can always return to it at a later date, things like streamlined work and cost-effective projects do make it a desirable course of action. Some of the reasons why it’s smart to bundle your lighting project with your residential remodel include:
- Cost Effectiveness: Having all the cables and circuits already planned out and installed before the drywall goes up is cheaper than tearing down the walls and ceilings later on.
- Design Cohesion: Since you planned the new countertop, walk-in shower and light fixtures together, the result is more put-together and intentional.
- Energy Efficiency: Incorporating smart technology and LED lights with your renovation work means that you’ll have low utility bills in the future.
- Raised Property Value: The seamless finish will be a huge factor in attracting potential buyers to your property if you ever decide to sell.
- Streamlined Payment: Because you’re having everything done at once, you won’t have to worry about juggling different contractors and payment plans later.
Conclusion
To conclude, bundling light fixture installation services with your home improvement project is a fantastic idea! Not only does it streamline payment plans; it saves time and money and allows for a thoughtful and intentional finish. A few options you can try to finance the project include things like the Fanny May Home Improvement Loan and your credit card—with each option having its own unique perks and conditions. we hope this blog helped make your lighting upgrade easier and smoother. For further inquiries, please ask.
FAQs
Should I have a contingency budget for my light installation?
It’s always smart to set aside 10-20% of your total budget for emergencies.
What types of fixtures should I use in wet areas?
For showers, go for fixtures with IP65 rating and for the vanity, select something with an IP44 rating.
Where should I place my motion sensor lights?
Place them in driveways, entryways and dark corners for maximum safety.
