You guys know I’m pretty transparent when it comes to our renovation budget. Sometimes I’ll even include corresponding budget posts (like this one) that coincide with each project reveal, and I’m always sure to answer the notorious “How much did that cost?” question. Budgeting is a BIG part of renovating whether people like to discuss it or not. I personally think we should chat about it more often because how else do you get from point A to point B, when transforming your home? Creating your dream home requires money, time, a good design plan, and sometimes a little help along the way. Click through to see how we save, fund our renovation projects, and take advantage of resources like American Express Personal Loans when needed.
This post is sponsored by American Express Personal Loans. All content, ideas, and words are my own. Thank you for supporting brands we love and actually use.
Since many people aren’t comfortable discussing money and finances, I think rather than flat-out asking, assumptions are easily made. I’ll use myself as an example. Emmett and I renovate our home, have high standards, and lots of people probably believe we pay a fortune to make it happen. For starters, you guys know my husband does accounting for a living, right? Haha! He is the king of budgeting. We don’t overspend and live within our means. I mean, we tackle every single DIY project ourselves to save money- and because we are perfectionists.
Back to the budget. Given we enjoy quality materials and occasional high-end finishes / decor, it does require us to get creative with our renovating budget. Both my husband and I are in early stages of our careers. While we may be young, passionate, and hardworking, we don’t exactly have an endless supply of money at this point in our lives. So here’s how we pay for our renovations…
As I previously mentioned, we save. That’s our first step. It requires a lot of planning to make it work financially. We figure out what we want, set goals, save, and then dive into a project. We’ve skipped trips and travel, fancy dinners, and date nights to make certain projects happen.
However, we don’t always get the luxury of time when it comes to saving since we do this for a living. Deadlines come into play and other times I just can’t live with the current situation a moment longer (ahem, the kitchen). So what happens when we tackle a really big, expensive project that would take us months or years to save for? We take out a home improvement loan.
We’ve been looking into an American Express Personal Loan to help us make our design dreams a reality when it comes to the larger projects. Hopefully the next big project will be an addition- the garage and bathroom add-on we’ve been wishing for. We feel comfortable investing in our home and this is a great way to do it (read more on resale value here). It’s the ideal scenario to create the space of your dreams more quickly, so you can enjoy it for the maximum amount of time. There is no time like the present, am I right? I love when long term goals become short term goals and we eventually cross them off the list sooner than anticipated. Plan, assess your financial situation, get a personal loan, then pay that baby off while you’re living in your newly renovated space!
So if you’re an eligible consumer American Express Card Member, American Express Personal Loans may be a good place to start.
- They offer loans of $3,500 – $40,000 with no origination fee and APRs starting as low as 6.98% to eligible consumer Card Members1
- Find out more about eligibility and the quick application process, plus the full terms and conditions here.
I’ll end by saying this… we’re very proud of what we’ve accomplished when it comes to our renovation. We work incredibly hard and love living in a home that feels like us. It’s an amazing experience to come home to your happy place every single day. With each project we complete, my mood and positivity increases. Our home has a long way to go, but it has also improved by leaps and bounds (see what it looked like pre-reno here). I’m a big believer that your surroundings play a major role in your happiness. Let American Express help you live life to the fullest!
1 American Express Card Members must be pre-approved for a loan offer in order to apply. Pre-approved APRs and loan amounts are based on the Card Member’s creditworthiness and other factors. Pre-approved APRs will be between 6.90% and 18.97%, as of 3/2/2018. Not all Card Members will be pre-approved or receive the lowest APR or the highest loan amount.