Home-improvement loans: making your house energy-efficient
Home-improvement projects are big investments. If your water pipes havenâ€™t been checked in years and are beginning to leak and create problems, it could really cost you. The average cost to hire a plumber is $299 and for most people, that is a large chunk of cash to spend on plumbing alone. Remember you still have to buy the new pipes. Â
We know this sounds intimidating but a small home-improvement project like replacing your water pipes may seem expensive right now, but it can significantly decrease your energy bill and potentially save your house from water damageâ€”making it a worthy investment.
Home-improvement loansÂ are a great way to get the financing you need for any home-improvement project without having to rack up revolving credit card debt or dive into your savings.
In a three-part series, weâ€™ll show you the ways home-improvement projects can be helpful and how you can get yours funded. So, if you are on the fence on whether you should start your home-improvement project today, this article is for you.
A Home-Improvement Project can be beneficial to your energy bill
You can decrease your energy bill. You can save around $83-$166 dollars a year by simply replacing your windows or resealing them to avoid air leaks. Siding and replacing windows will better insulate your home, allowing thermal energy to redistribute more easilyâ€”so during the hot summer months you wonâ€™t need to crank up your AC. Again, reducing your energy bill.
If you have old and outdated appliances, they could be adding outsizeÂ charges to your energy bill as well. Old appliances use more energy than newer, energy-efficient models. Many consumers donâ€™t realize how much money their 1990s washing machine is costing them. Check out how much you could save on your bill each year here.
What if I canâ€™t afford a Home-Improvement Project?
If you feel you canâ€™t afford a home-improvement project, you are not alone. According to a study conducted by GOBankingRates, out of the 5,000 Americans surveyed, 69% said they had less than $1,000 dollars in their savings account.
Your savings are important and if you donâ€™t want to empty your emergency cash stash, a Home-Improvement loanÂ may be a great option.
Even if your credit score is lower than you would like it to be, you doÂ have personal loan options. LendingPoint is dedicated to serving the NearPrime consumer with credit scores in the 600s. A personal loan can even help improve your credit score. By taking out a LendingPoint personal loan you can make affordable monthly payments and build your credit story. As you continue to make your payments on-time, you build your credibility and your credit history.
We offer decisions in minutes and fundingÂ as soon as the next business day toÂ help make your home-improvement dreams a reality. There is no time like the present to start your home-improvement project.
LendingPoint is a personal loan provider specializing in NearPrime consumers. Typically, NearPrime consumersÂ are people with credit scores in the 600s. If this is you, weâ€™d love to talk to you about how we might be able to help you meet your financial goals. We offerÂ loans from $2,000 to $25,000 with terms from 24 to 48 months, all with fixed payments and simple interest.