Plan for the unexpected

When you are working with a tight budget, it’s always hard to find a little room for unexpected occurance, but let’s talk about some of the unexpected things that can happen, especially when doing a remodelling kitchen project.{{more}}

Unforseeable damage to the walls when cabinets are removed, broken plumbing when removing cabinets, switches that end up being in the wrong place that would now have to be relocated. Damaged tiles (you didn’t plan on replacing) and you can think of many other problems from there.

Plan for these things just in case they happen. Your plan A should be in play while your plan B is waiting on the side lines to jump in – just in-case!

PAYING FOR YOUR KITCHEN

My lousy idea about this is: “Let someone else pay for it!” Even if you have money in the bank, especially if you don’t have a lot of money, take out a loan and keep your cash free. That is the advice I normally give my clients when we are discussing payment plans.

Some companies would tell you that you can make monthly payments to them directly, with low or no payments or interest for one year etc. Explore these offers closely because these costs can be so astronomical over the long run that sometimes, it’s better to just go to the bank and get a loan at a lower rate than what you would have to pay. I’m not saying it’s a totally bad idea for these companies to offer these kinds of financing as for some people; it may be the only avenue open to you.

Some of the local banks do offer very good rates on home refurbishing, especially at the end of the year. You can tap into that avenue as well, since they normally require little or no security. Then for those of you who do not want the burden of repaying a loan, then pay for the kitchen from your savings account, or you can use funds from your insurance or your retirement account (not an option I recomend).

I just know a few people who rather do that than take loans. Whatever it is you choose to do, make sure that you or your loved ones are comfortable with it.

Angelica and Rayan James
Exclusive Kitchens
494 2579 / 532 6756
www.exclusivekitchensvc.com