It was almost exactly a year ago when this Diamond Bath blog post, Do It Yourself Versus Professional Contractors, caused a bit of stir. Clearly, being a professional remodeling company for years, we are going to be a bit biased about our chosen profession. Our point was not to demean or degrade the millions of DIYers and weekend warriors that make improvements to their homes each year; our mission was simply to communicate a few relevant points that are sometimes overlooked by those considering taking on a remodeling project themselves. For example:
1. Time: We believe everyone's time is worth something and, if you are like us, you believe the time you spend with your family at night and on weekends is some of your most precious time. Yet this is when most DIY projects happen, so time is spent shopping for materials, borrowing tools from friends, cleaning up an accident or watching another YouTube video on how to remove that old toilet.
2. Money: Since we've seen our share of DIY projects gone wrong, we can surmise that many times the savings you anticipated with the cost of materials, gradually increases as you eventually discover additional items you didn't realized were required as well. That new toilet will also need a new wax ring. A new tub will likely not be the exact same size as your original tub, so that means changes to your flooring. Even installing a new shower head will require some teflon tape for a watertight seal, and all those additional add-ons will add up.
3. Resale: While you might be very proud of your DIY project, how will future home buyers feel about your remodeling abilities? Potentially even more important, how will a certified home inspector view your efforts? What about an experienced home appraiser? Keep this future audience in mind when you are weighing the pros and cons of your DIY decisions today.
Don't want to take our word for the various pitfalls of DIY projects? Be sure to read this article from last month's Chicago Tribune, Your DIY home renovation project may actually lower its value. 10 things to know before you start the work. If your ROI for going DIY is not measuring up, be sure to contact Diamond Bath for your free in-home estimate!
Last week we shared important details about the advantages of using a Home Equity Line of Credit (HELOC) to help finance your home remodeling project. As we explained originally in this "How To Pay for Your Brand New Bathroom" article from March 2019, HELOCs are a common financing option for home owners with positive home equity. Another popular option we've identified is unsecured financing, also known as a signature loan, and that brings us to today's exciting news to share for our future clients!
Our entire team at Diamond Bath is proud to announce a new partnership with a nationally recognized leader in personal finance, Rocket Loans! You may have seen their advertisements on TV, or within your favorite publications, and you may even have their app on your smartphone, but we are excited at how easy this new partner makes it for our clients to secure the funding needed for professional home remodeling projects. If you've just purchased your home within the past year or two, you may not have positive equity yet for a HELOC, and tapping high interest rate credit cards may not make sound financial sense. For those with good credit scores, a Rocket Loan, paid over the course of five years could actually save you money versus your credit card. Here's a helpful comparison, right from their website, for a $10,000 loan:
Beyond the very competitive financing rates and low fees, Rocket Loans is also convenient! Diamond Bath uses a project management system called Buildertrend to create our bathroom remodeling proposals, track the progress of each job and help keep our clients informed about the status of their project. Because Buildertrend and Rocket Loans are integrated, all Diamond Bath clients can apply for a signature loan with just a few clicks. This new partnership between Diamond Bath and Rocket Loans gives our local customers another affordable option to consider to help turn their "dream" bathroom into a beautiful reality!
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