The Advantage Of A Secured Home Improvement Loan

If you’re thinking about making minor upgrades or improvements to your home and you can handle the expense from your income or savings, you shouldn’t concern yourself with taking out a loan. But, if your home improvement project is large enough to consider it a home renovation, you may not be able to complete the project without financial assistance. As a homeowner, you might want to consider the advantage of a secured home improvement loan.

The first thing you should compare before choosing any home improvement loan are the interest rates. The main advantage of a secured home improvement loan is the interest rate, which tends to be lower than an unsecured loan. Secured home improvement loans are backed, or secured, with the homeowner’s property and the equity in your home determines the amount of the loan.

Interest rates can vary widely since many lenders in the financial market now offer secured home improvement loans. Many potential lenders offer websites to apply for a loan online. This may save you the stress of having to meet the lenders personally. You can fill out the application online. Most lenders have a quick response time and this will allow you to compare the interest rates of a number of lenders in a short amount of time.

Keep in mind that secured home improvement loans are generally approved for a specific use. Any approved loan money spent that doesn’t appear to be related to the original loan purpose stated may cause you to receive a substantial penalty. Due to the special purpose requirement of many secured home improvement loans, your lender may ask you to give detailed documentation about the projects for home improvement that will take place. Lenders are more likely to approve projects that will increase the value of the property which, in turn, increases the equity on your home. Any increase on the value of the property being used to secure the loan will increase the value of the asset backing the loan and that’s mutually beneficial to both the homeowner and the lender.

As long as you have specific home improvement projects in mind, the advantage of a secured home improvement loan outweighs the annoyance of keeping detailed records of your expenditures. If you are unsure about the exact financial requirement of your home improvement project, have an architect or other professional estimate your financial need. They can help you calculate the amount of money you will need before applying for a secured home improvement loan.

How To Promote A Home Improvement Business

Home improvement businesses face a unique challenge in marketing themselves to potential customers.

Businesses offering services like loft conversions, double glazing, conservatories, landscaping, kitchens and bathrooms face widespread competition, some of it from larger retailers which can offer low prices thanks to greater economies of scale.

At the other end of the market, less reputable businesses can damage the reputation of the home improvement sector through poor workmanship or unethical marketing practices like cold calling.

Marketing channels available to home improvement businesses are often costly and hard to measure, such as local press or phone directory advertising.

Yet the effort in marketing can be worthwhile, with a typically high average spend per successful order. So how can a home improvement business stand out from the crowd, whilst achieving a good return on its marketing investment?

Direct marketing tools and methods can often offer the answer. Because it’s more measurable than other marketing methods, direct marketing is more measurable and it can be targeted more closely to those potential consumers most likely to buy your home improvement services.

Here are some of the ways in which direct marketing can help:

1. Planning

Before any direct marketing campaign you have to carry out some planning. For a home improvement business this can involve analysing your existing customers to see what they have in common. Using tools like Easycheck list profiling software (www.selectabase.co.uk/i-have-a-list/easycheck) you can discover more about your customer’s interests, likes, dislikes and lifestyle just from their postcode. Also look at there they are based and what type of home they live in, to help identify potential markets.

Once you’ve analysed your existing customers you can put them into different groups, or segments, and then prioritise which groups are of most importance to you.

For example, if you are a landscaper, you might want to target properties in local areas that you know have larger sized gardens. Double glazing companies may want to target homeowners in coastal or exposed areas, where their properties are more likely to suffer from the elements. Loft conversion or conservatory companies could target growing families likely to need more living space.

2. Direct Mail

Once you’ve identified your target segment, or segments, you can source lists of more people of the same type.

There are numerous reputable mailing lists available that you can select data from. For example the Consumer Profiles list (www.selectabase.co.uk/lists/consumer/) which allows you to target potential customers by lifestyle, Silver Prospects (www.selectabase.co.uk/ppc/grey-market-silver-prospects-list.aspx) is a specialist list of retired older people, and Recently Moved (www.selectabase.co.uk/recentlymoved/) provides a monthly list of people who’ve just moved into your local area.

Mail these lists with a good quality mailer, personalised to each person, explaining clearly why you are approaching them and the benefits of what you have to offer; price, service, testimonials, knowledge etc. Include a clear call to action and offer a no hassle free quotation.

Mailings can also be used successfully to drive traffic to your website, where people can see more about your business and obtain a quote online.

3. Telemarketing

Unsolicited telemarketing, or cold calling as its also known, has done much to tarnish the reputation of the home improvement industry.

However if you have your own list of leads, enquiries or prospects that you plan to phone, you can do so as long as you check each number first to see if it is registered with the Telephone Preference Service. You can check numbers as you go using an online service like www.selectabase.co.uk/1check/ or you can clean your list each month using software like Easycheck.

Also, it is completely acceptable to follow up a mailing to a rented list with a brief courtesy call asking if the homeowner received the information and if it was of interest. If it’s bought from a reputable source, your list will have been screened against the TPS just before you buy it.

It’s worth spending time briefing the person who makes the call to make sure they have good product knowledge and know how they should represent your business.

Summary
In summary, direct marketing methods provide great opportunities for home improvement businesses to identify and target relevant potential customers on an individual basis, without the interference of competitor’s messages that you find with press advertising.

Results can be measured precisely, and the results used to guide future mailings or campaigns. And if direct marketing is carried out in a high quality and reputable way, consumers will see that your home improvement business is going to provide a high quality service.

Home Improvement Rules To Follow

Even though home improvement is pretty straightforward most of the time, it is important to carefully follow instructions in order to successfully complete a home improvement task. Many home improvement jobs take a lot of time to complete. This will be time well spent, since each home improvement or repair you make will increase your home’s value. Home improvement is clear-cut, but takes patience and requires that you follow instructions to the detail.

It is imperative that you closely follow the instructions when repairing or remodeling. Written instructions will provide you with the steps to correctly complete the project and avoid problems. And make sure to keep any receipts for materials and tools you buy incase you need to return or exchange the merchandise.

The first rule of home improvement is to learn as much as you can before starting a project. For example, if you are planning on hanging drywall in a room in your home, you need to know exactly what materials you will need, in addition to the steps used to complete the job. You will also need to know what about wallpaper, tiles, paint, or other materials to finish a wall job.

Most any home improvement job will increase the value of your home. That is why it is important to be very methodical when you start a home improvement project; you should take notes, create files, and plan every step of the job.

Budgeting and planning are two other important steps in any home improvement project. If you do not have a plan, you will likely spend more money than you need to, buy the wrong materials, take longer to complete the project, and make errors along the way.

Depending on the type of home improvement project you are planning, it could be rather straightforward. However, some home improvement projects are easier than others. Ease of completion does not equal less cost, however.

For wall improvement projects, paint, panel and tile are sometimes easier than wallpapering. Tiles come in multiple choices, including self-adhesive, or peel and stick. However, if you have damage to your walls, such as holes, you will require spackle and a few other materials to patch the area before finishing the walls.

When repairing or remodeling a basement, the same rules apply and then some. Michigan and Kentucky basements are known to be the worst for home improvement, mostly because those areas are highly prone to flooding. Improvement or repair projects in basements often require special considerations for insulation, and can often cost more money and require a little more time to complete a job. Basements in newer home tend to have fewer problems, thanks to advances in construction.

Making improvements or repairs in a bathroom requires a whole unique set of tools and knowledge. Dealing with plumbing and electrical issues are the trickiest parts of home improvement, because they often require a certain level of expertise, and even professionals have been known to make mistakes. That is why educating yourself before beginning a home improvement or repair project is imperative.

A big rule to follow in home improvement is to clear whatever area you are working in completely before beginning the job. This will prevent accidents and things from getting damaged or destroyed. It is also imperative that you use safety equipment, such as dust masks, gloves, and goggles when doing any kind of home improvement or repair project.

Get Approved For A Bad Credit Home Improvement Loan

Home improvement projects are wonderful, but can quickly become expensive. There are a number of factors that should be taken into consideration when planning home improvements. In some situations, contracting the services of professionals, buying tools and supplies are necessary for completion. There can be a strong inclination to withdraw from your personal savings for home improvements, especially if there is a large repair involved that is an absolute necessity. This can lead to a strain a family’s financial security. If this is the case, you might want to try to get approved for a bad credit home improvement loan.

Making home improvements are one way to increase the appraisal value of your house. However, if your have a bad credit history, your chances for loan approval will certainly decrease. Banks and other financial lenders take your credit history into consideration when trying to get approved for any type of home improvement loan. The lower your credit score, the more difficulty you will have in obtaining a home improvement loan.

Even though this is not encouraging news, don’t give up just yet! You may still be able to qualify for some types of bad credit home improvement loans. Lenders do exist that are willing to approve home improvement loans for persons with a bad credit history, however, possessing sufficient equity in your home will likely be a major requirement.

Unfortunately, bad credit home improvement loans have higher interest rates. But there is a bright side, because if scheduled loan payments are made on time, the credit rating of the borrower will increase provided there are no other negative factors affecting the credit score. After a period of 12 to 24 months of timely payments, you may be able to refinance your bad credit home improvement loan for a lower interest rate.

Here are some excellent tips on ways to get approved for a bad credit home improvement loan and get the lowest possible interest rate for your current credit score:

1. Research
Take time to research your available options. Knowing your options will be a large help when it comes to finding the lowest possible interest rates on a bad credit home improvement loan.

2. Recommendations
Talk to other people who may have gone through the bad credit home improvement loan approval process. Recommendations from friends or co-workers could save you hours worth of your own research time. You may get information from people who have completed the process that you might not learn otherwise.

3. Multiple Lender Quote Comparison
Always get more than one lender quote. You should compare home improvement loan quotations from no less than three or four lenders before attempting to make a decision.

4. Good Rapport
Contact the lenders with which you think you have the best chance of getting an approval for a bad credit home improvement loan. Once a good relationship has been established, lenders may be more likely to give you a lower interest rate.

Improving your credit score as much as possible before you apply for a loan is the best way to get approved for a bad credit home improvement loan. Your bad credit home improvement loan should be seen as an opportunity to both increase the value of your home as well as improve your credit score in the future.

Tips For Getting A Home Improvement Loan Grant

Living on a tight budget doesn’t mean you can’t improve your home. A home improvement loan grant from the government may be the perfect solution and most American citizens are eligible to apply for one. Here are a few tips for getting a home improvement loan grant from the government that you should keep in mind.

Some home improvement loan grants are based on income level and ability to qualify for a loan. Many low income families may meet this qualification. Other grants may be based on geographical location and many times rural locations are given preferential treatment. Some home improvement loan grants require that you own your home and that you will not be selling it for a minimum of three years. Elderly home owners may qualify easily if their home needs improvements or renovations to adapt the home to a medical condition. Always read the qualifications of the grant for which you are applying to save yourself time, effort and unnecessary paperwork. You don’t want to apply for a grant if you don’t meet the basic qualifications.

Some grants require that the home improvement to be done be in a certain area of the home or that the improvement is designated to a certain aspect of the home. A valid reason must be given for the home improvement in question. Home improvement loan grants for the elderly are a good example of a valid reason to do a home improvement. Other valid reasons for receiving a home improvement loan grant may include making your home more energy efficient or to have old and dangerous construction supplies such as lead paint or asbestos removed from your home.

Find a grant for which you feel you have the best chance of qualifying. There tend to be many rules and regulations for compliance, but following those application rules to the letter will ensure you the best possible opportunity for receiving your home improvement loan grant. If you have questions concerning the application process, don’t be afraid to ask for help from the appropriate governmental agency or local government.

One useful tool is a grant guide that can be borrowed from the library or purchased from your local bookstore or through the internet. A grant guide will give detailed instructions and information about home improvement loan grants, but it will also give you ideas of other grants for which you may qualify. In order to make the most from your grant guide purchase, be sure to buy the most current copy available as they may be updated every 6 to 12 months.

These tips for getting a home improvement loan grant could have you well on your way to the home improvements you want or need to make. Although grants are free money and do not require repayment, you can’t afford to be sloppy with the application process. Attention to detail is vital. Most home improvement loan grants don’t require contracts like loan companies do, but thoughtful and careful documentation is necessary for success. Be confident, plan carefully and a home improvement loan grant could be in your future.