Home improvement shows are pushing some Canadians to opt for the "reno" of their dreams instead of a project more in tune with their financial reality.
Recent surveys have found that 60 per cent of respondents who have renovated their home recently developed a budget before starting their project. However, 27 per cent of renovators spent more than they planned.
Maintaining a renovation budget can be challenging, especially when home improvement TV shows and magazines stir-up consumer appetites for the latest in home appliances and dcor. Home renovators often have the best of intentions when it comes to sticking to their budget, but often the influence of renovation shows can force them into a 'stretch' situation, which can cause major financial headaches when the final bill is tallied.
The ability to anticipate extra costs through appropriate financial planning can reduce the stress of home renovations. Experts suggest securing financing prior to the renovation, such as a personal or homeowners? line of credit, which provides the financial cushion most home renovators require. Having a line of credit available doesn't mean that you have to use it, but it does provide added security if you hit unexpected expenses such as re-wiring your home.
While the survey showed that 68 per cent of respondents use cash from savings or investments to pay for renovations, a lack of planning could mean financial challenges down the road. The survey also showed that 34 per cent of homeowners are borrowing to renovate.
Home Improvement Shows Could Spoil Your Whole Marriage
Attempts to emulate TV ?fantasy homes? could be turning DIY into D.I.V.O.R.C.E, according to a new study from British Gas? Web site http://house.co.uk. Over half of our DIY is now inspired by TV shows, but 80% of families admit to having had arguments over failed makeovers.
Two in three families cite disagreement over color schemes being the likeliest source of a break-up.
The research was conducted to assess consumer attitudes to DIY. http://House.co.uk features a national directory of 'trusted tradesman', provided by HomePro Ltd, the leading online supplier of screened trade professionals.
Calling in a tradesman could help families avoid not just a dispute, but also a massive bill. Householders spend millions fixing their DIY disasters.
Uncertainty over house prices means that 84% are taking tips from TV shows and redecorating instead of moving to another home.
Top Ten Reasons for DIY disputes:
1.Disagreeing over color schemes
2.The person doing the DIY didn?wholesale pearlwholesale necklacet want to do it in the first place
3.Thinking it will be as easy as it looked on a TV show
4.Jobs not being completed
5.Finding the time to do DIY
6.Mess /disruption
7.Stress
8.Costs
9.Lack of basic DIY knowledge
10.Male/female differences of opinion
2007年12月7日星期五
2007年11月21日星期三
Warning: Woodworking Shows Could Be Hazardous
Are you becoming a woodworking show junkie?
If so let this article be a great warning to you and your financial life, because many of these shows are driving people to go after home improvement renovations that they cant afford, making them feel as if they need to keep up with the Joness.
In recent studies and surveys it was shown that twenty seven percent of those people who renovated their homes spent a lot more than they had counted on because they hadnt planned and budgeted their product before they began. Luckily, there were sixty percent who were wise enough to plan and not end up in over their heads.
Its the truth, keeping a home improvement budget can be difficult, even more so when the home improvement shows that seem to constantly be on the television stir up and persuade you to go in deeper than you had planned on doing. They get you excited for the latest home appliance gadgets and the most expensive dcor that you simply do not need, and likely cant afford. You may begin with good intentions to stick to your budget, but if youre not careful, with the influence of these shows you could likely end up stretching that budget well beyond your means, which will no doubt cause much financial stress later on.
This is simply something that nobody needs, dont you agree?
A good financial plan will give you the ability to expect extra expenses, which therefore will reduce the stress of home, your renovations. Experts advise that you should secure financing before the renovation, such as a personal or homeowners line of credit, which give you the financial cushion that you need to keep stress levels low. However, just because you have a line of credit available doesn't mean that you should use it; it just provides extra security in case you hit unforeseen expenses, for instance re-wiring your home.
The survey showed that 68 per cent of respondents used cash from investments or savings to pay for their home improvements, however not planning could likely mean financial difficulty down the road. This survey also revealed that thirty four percent of homeowners are borrowing to finance their renovations.
Could a Home Improvement Show Devastate Your Marriage?
It looks like this may be the case according to a study done by a UK website called British Gas. They reveal that those who are attempting to emulate TV dream homes could be turning DIY into fuel for divorce. More than half of our do it yourself craze is forged by the influence of TV shows. The bad news is that eighty percent of families admit to having had arguments over botched makeovers. That doesnt include all of the added arguments due to financial stress on these marriages, which is the greatest cause of divorce.
Bottomline, save yourself a ton of headache by creating a budget before starting any home improvement project, be strict with your budget, and dont let the shows that tout easy and simple renovation influence you, simply let it inspire you. Be savvy and keep your savings and your marriage.
If so let this article be a great warning to you and your financial life, because many of these shows are driving people to go after home improvement renovations that they cant afford, making them feel as if they need to keep up with the Joness.
In recent studies and surveys it was shown that twenty seven percent of those people who renovated their homes spent a lot more than they had counted on because they hadnt planned and budgeted their product before they began. Luckily, there were sixty percent who were wise enough to plan and not end up in over their heads.
Its the truth, keeping a home improvement budget can be difficult, even more so when the home improvement shows that seem to constantly be on the television stir up and persuade you to go in deeper than you had planned on doing. They get you excited for the latest home appliance gadgets and the most expensive dcor that you simply do not need, and likely cant afford. You may begin with good intentions to stick to your budget, but if youre not careful, with the influence of these shows you could likely end up stretching that budget well beyond your means, which will no doubt cause much financial stress later on.
This is simply something that nobody needs, dont you agree?
A good financial plan will give you the ability to expect extra expenses, which therefore will reduce the stress of home, your renovations. Experts advise that you should secure financing before the renovation, such as a personal or homeowners line of credit, which give you the financial cushion that you need to keep stress levels low. However, just because you have a line of credit available doesn't mean that you should use it; it just provides extra security in case you hit unforeseen expenses, for instance re-wiring your home.
The survey showed that 68 per cent of respondents used cash from investments or savings to pay for their home improvements, however not planning could likely mean financial difficulty down the road. This survey also revealed that thirty four percent of homeowners are borrowing to finance their renovations.
Could a Home Improvement Show Devastate Your Marriage?
It looks like this may be the case according to a study done by a UK website called British Gas. They reveal that those who are attempting to emulate TV dream homes could be turning DIY into fuel for divorce. More than half of our do it yourself craze is forged by the influence of TV shows. The bad news is that eighty percent of families admit to having had arguments over botched makeovers. That doesnt include all of the added arguments due to financial stress on these marriages, which is the greatest cause of divorce.
Bottomline, save yourself a ton of headache by creating a budget before starting any home improvement project, be strict with your budget, and dont let the shows that tout easy and simple renovation influence you, simply let it inspire you. Be savvy and keep your savings and your marriage.
订阅：
博文 (Atom)