Did you ever just wake up one day and think “I’m going to have a bathroom remodel?” If you did, then you’re not alone because about 50% of people who want a bathroom remodel like you couldn’t stand their old bathroom anymore. In more recent times, there has been a yearly increase in the number of homeowners desiring a bathroom remodel because the bathroom is no longer perceived as a mere bathing space. Bathroom remodeling is a feat taken on by the bold and courageous. It takes time, planning, commitment, and of course, is capital intensive.
On the other hand, a custom bathroom model is different from the regular or traditional bathroom models because it is specifically designed to fit your uniqueness and needs., When it comes to a custom bathroom remodel project, the principal focus is how to change what you have to what you want it be , into pretty much something that suits your personality and lifestyle. Without doubt, even a simple bathroom remodelling could be expensive talk less of a custom bathroom remodel. Before embarking on this project however, you must have a budget that you’re working with because this will help in planning and will decisively affect your finance options. Making a decision to have a custom bathroom remodel is a huge step but with knowing how to finance it, you’re good to go.
According to statistical analysis you’re likely to spend about $10,000 on an average, but really, the size of your bathroom is relative to the amount of money you’ll spend while remodelling. While most people spend between $10000-$25000 on a high-end remodelling others would spend about $25000-$50000 and the rest a little over $50,000.
It is preferable that you make an outright payment of your remodeling project in cash, but in the event that you are not be able to gather that lot at once you may want to consider finance options. There are three options when it comes to financing a custom Bathroom remodel, these options include
1. Line of credit: Credit cards are the best choice to consider if you have a good limit and especially if your custom Bathroom remodeling is not too expensive. Credit cards have limited rates of 0% interest which makes it easy to do the paying by yourself as long as it is properly allocated per month. Home improvement credit cards can also be used as long as you have a good limit.
2. Personal loans: Interest rate for this type of loans are not fixed depending on where you’re getting a loan from. This type of loans are good for you if you want to keep paying back over a long period of time.
3. Home improvement loans: Home improvement loans are specifically for major custom Bathroom remodelling projects but they also allow you to complete your payment over a long period of time.
If you’re not going with the credit card option then you must take note in picking other finance options. One thing you must bear in mind is your interest rate and the amount of your monthly payment. In short, do what works for you and not the other way round.