Renovating your home is always a bigger job than you think it will be. Budgeting is super important for a successful renovation, because there is almost always something extra you’ll find along the way.

If you want to get the ball rolling on your home renovations, you should start with a thorough budget. Check out a few tips on how to formulate that budget, and go into your home renovation with confidence.

Decide on what you need renovated

Take the time to think over which needs aren’t being completely met by your current living situation. You may need more space. You may need a new bathroom. Whatever it is, deciding on exactly what you need to get done is the first step to formulating a budget for the work.

 

Pricing can shift rapidly, depending on what sort of work you need to get done, so think hard about how you use the space in your home before you go knocking down any walls.

Weigh the cost versus the value

When you spend money on upgrading your home, it’s important to know what kind of equity you’re gaining with the work. If you want to sell your home down the road, the equity you gain will help boost the selling price.

A minor bathroom remodel can draw more than a hundred percent ROI (return on investment) if you don’t go overboard with materials. Finishing the attic or basement are also two high return investments for your next renovation project.

Figure out how to finance the project

The most challenging part about renovating your home may be figuring out how to finance the whole thing. Unless you have a lot of money in savings, you will need to finance the work done to renovate your home.

Try looking into what a HELOC or a home equity loan can do to help you get the job done. Credit cards may also be a viable option for funding.

Get bids from several different contractors

Finding the right team to do the renovations on your home is another notable step to managing your renovation budget. You have to know what it’s going to cost you to have professionals do the work you aren’t capable of doing.

It’s great to have a strong DIY effort, but some things are better left to the pros. Scout out contractors, and be thorough. Interview at least three different options before making your final choice on hiring.

Mix materials to save money

You can save money on your renovation budget if you think rationally about the materials you use. For instance, you could spend a little more to put hardwood floors in the living room and kitchen, but add tile or vinyl to the rest of the house to save some dough.

U.S. Money Reserve has some of the most diverse precious metals pieces in its vault of gold and silver bullion, and the company has had many special sales on uniquely minted coins over the years. Earlier this year, it released a Queen Elizabeth II Coronation coin set in partnership with Australia’s Perth Mint. In October, the company released a Fantastic Beasts set around when the movie came out. Now, U.S. Money Reserve has a Spiderman homecoming set with three 0.999 proof coins, two silver and one gold, of the Marvel Comics legendary hero. The coins started circulating as part of U.S. Money Reserve’s Cyber Week sales, and they’ve become quite a hit with the company’s customers. The idea behind this set of pieces was to market both to coin and superhero enthusiasts. But U.S. Money Reserve has even more to its inventory than these sets.

U.S. Money Reserve has been selling physical gold and silver bullion to customers around the world for more than 15 years. The company’s coins are certified and tested thoroughly for purity, which is why U.S. Money Reserve is known as America’s Gold Authority®. While seasoned buyers may be the primary crowd buying from the company, they have quite a bit of information detailing why nearly everyone should consider owning physical gold and silver.

Why is buying physical gold or silver so important today? Generally, when people want assets they can later liquidate or save for retirement, they look at traditional vehicles such as owning stocks, buying real estate, or maybe even stockpiling cash somewhere safe. Those options can certainly be helpful, but should an economic disaster occur or the markets become completely destabilized, you may need a better asset that can survive these kinds of situations. Gold and silver are reliable and stable assets that have endured throughout history. Owning physical gold may not be for everyone, and most experts will not advise putting all your savings into it because it still has its risks but having a portion of your assets backed in gold and silver could be vital in the long run.

One reason why U.S. Money Reserve has built its reputation as America’s Gold Authority® is because it has experts in the industry who have a long history of working with gold products. One of the company’s key leaders is President Philip N. Diehl, a former public accountant in the Texas state comptroller’s office and, most notably, the 35th U.S. Mint Director. Diehl was influential in bringing about congressional action to legalize minting the first ever platinum coin, and now he’s active in educating consumers about different gold coins. He even gives an introduction to U.S. Money Reserve’s Gold Buying Kit and informs people on how to begin a self-directed IRA program for physical gold. You can find out more about this information and get started buying gold or silver bullion by visiting the company’s website.

 

When you’re looking for a home through real estate listings, Canada offers 2 basic options. You can either buy or rent. But which is the better option?

The truth is that the right or wrong answer will not be the same for everyone. It depends on your particular needs and situation, and only you can decide which option is better.

To help you understand, here are the core benefits and drawbacks of each option

Buying a Home PROs

• The value of the home can increase over time so you may generate more profit when you sell compared to your interest earnings when you leave your money in a savings account.
• As the home is your legal property, you’re able to use it as you see fit without a landlord limiting you. You can change the home style and renovate to suit your preferences and needs.
• You can earn income immediately from the home by renting it out. You can then use the rental income towards paying off your mortgage.
• If you use the property to generate income, you may enjoy some tax deductions.
• When you make montage payments on time, you improve your credit score.
• You can use the property as collateral when you borrow money.

Buying a Home CONs

• You may not pay rent, but you need to pay the mortgage, the property taxes, the home insurance premiums, and the costs of maintenance. Add these expenses together and they can exceed rent by a huge margin. So you better earn enough money to cover them all.
• It’s very possible that you don’t make profit on the home, especially when you resell very quickly. Real estate is an investment, and there’s no such thing as a sure investment especially for short-term profit.
• You’re not able to move to another address as easily. You will have to sell your home first.

Renting a Home PROs

• You’re a lot more mobile when it comes to your home location. It’s a lot easier to move to another apartment. So if you get a new job on the other side of town, you can just get a new apartment in that general area.
• You’re also able to live in a place where the home prices are simply too much for you. This means you can enjoy the various restaurants, clubs, and services that the more affluent can enjoy.
• Moving out is much easier for you, compared to how a homeowner needs to find a buyer for the home. You don’t have to find a replacement, as that’s the job of the landlord or property owner. If you signed a lease, you can always find someone to take over or you can even rent out the property.
• Rent doesn’t cost as much as the expenses involved in home ownership. So you’re able to use your money as you see fit, as your budget is freer. You can put that money in stocks, or even invest it in real estate. Or you can be a renter for all time and you can enjoy life with your spending money.

Renting a Home CONs

• Your lease or rental agreement limits how you can use or renovate your home. You will need to get the approval of the homeowner if you make any changes.
• There is no wealth creation. Your rent is lost forever, as you can’t get it back. You don’t put that money in home equity.
• The amount of rent you pay may increase every year, and you have no choice but to pay if you want to stay.
• If you have a lease, you’re not sure of it will be renewed. So you have to be ready to move out if it isn’t.

So which set of pro’s and con’s appeals to your preferences and budget? As always, the choice of whether to buy or to rent is entirely up to you.

 

Buying a car requires you to make the right decisions. There are many options buying it outright or buying it on finance. In fact, buying a car is the second most expensive asset after your house. So, it is important to select the best way to buy a car. Don’t rush into making decisions because they’ll cost you in the long run. Instead, take your time and make sure you got the right decision. Below are three ways to finance your car without losing much.

1) Opting for a Shorter Loan and a Cheaper Car

Car dealers are very smart when it comes to persuading buyers to purchase a car. They will use all techniques to convince you into buying a car; not just a car, but an expensive car that will make you have to repay the car loan for a longer period of time.

Some car dealers will try to lure you with low monthly payments. Don’t accept that kind of deal because their main aim is to generate more interest from you. Instead, choose on a plan that will see you repay your car loan after a short time.

By opting for a shorter loan, you will be able to save more money on interest they would have charged you if you opted for the low monthly payment. Doing this will not only help you cut on cost, but also build equity in your car as fast as possible. It is therefore better to be very careful with the car dealers. Don’t let them fool you with their offers.

2) Don’t Finance a Car with a Bad-Credit Loan

You don’t have to lie low to car dealers simply because you have a bad credit score. Instead, find ways in which you can get approved before you start shopping around. Some companies always offer Auto loan. Be sure to check.

You need to first check your credit report to ascertain that everything is okay. There are sites where you can check your credit report for free. Just search the sites on Google and confirm that everything is okay.

Once you are certain with the nature of your credit report, you can go ahead and negotiate with the car dealer on fair grounds. It will prevent the car dealer from exploiting you or taking advantage of the bad credit score. So, go ahead and be sure your credit report is excellent before you start shopping around for the best car.

3) Finance Your Car with a Credit-Union Car Loan

Credit unions are different from banks in that they are member-owned, unlike the banks that are mandated to make profit for their shareholders. Always ensure you check your car loan eligibility before making any decision.

Therefore, you can be guaranteed that a credit union car loan will provide you with lower rates as compared to the banks. The only challenge is that you first have to be a member.

Some credit card unions have strict rules. For example, Wings Financial Union only accepts members who live in Saint Paul or Tacoma. Though some credit unions can allow you to qualify for their membership, regardless of your city or your place of work. You should be able to find that better.

Final Thoughts

Once you have the best possible car loan, make sure you are not exploited in any way by the car dealers; get the best deal that will not let you regret later. But make sure you follow the guidelines above to avoid any poor deal.