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Money Matters Blog

Monday, June 6, 2011

Home Improvements: When it’s Time to Hire a Professional

By: Mark Evenson, Plymouth Branch Manager

My wife and I needed to do some landscape work for our home. I made the mistake of trying to do it myself instead of hiring a professional.  I ended up doing more damage than good. 

I thought it was going to be easy. We ripped out 18 bushes and needed to remove 10 yards of rock and dirt.  I tried to dig out the rocks with a shovel but realized I needed something biggerand rented a bobcat.

Mark Evenson, Plymouth Branch Manager

It was my first time using a bobcat. I ended up ripping a six foot tall lamppost completely out of the ground. 

I learned my lesson.  I needed a professional to help me.  Sometimes hiring a professional can be costly. Fortunately, home improvements are a worthwhile investment that Community Financial can help finance.

For major home improvements consider one of these options:

            Home Equity Line of Credit. This has a low variable rate based on the current prime.  It is a replenishing line of credit that you can draw against as needed simply by writing a check.  Interest may be tax deductible and it has an interest-only payment option. 

Home Equity Term Loan. This has a fixed rate with a set term.  It’s best for larger projects; funds are taken all at once and your monthly payments are set.  Interest may also be tax deductible.

No Equity Home Improvement Loan. A great option for homeowners who may not have equity in their home. This loan has fixed rates and terms up to 48 months.

Also, a Community Financial Platinum Visa® is a great way to finance smaller do-it-yourself projects. Community Financial is your local expert that can run the numbers and help you decide the best way to finance your dreams.

At our house, we cleaned up the mess and our house looks great.  But I learned my lesson to hire a professional for future home improvements. If you have any questions or concerns about home financing, please contact Community Financial at (877) 937-2328.  We will be happy to assist you.  

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

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