What are home improvement loans?
A home improvement loan is offered for renovating or remodelling a house. You can avail it for remodelling, painting, internal and external repairs, or even bigger construction work such as adding a floor.The eligibility criteriaWhile there may be variations from bank to bank, here are some basic eligibility guidelines.You can apply as an individual or jointly with the other owners of the house being the co-applicants.Both salaried and self-employed individuals can apply for a home improvement loan.The minimum age limit is 21 years of age. The maximum age is restricted to your retirement age.The documents you needLike any other loan, the process of availing a home improvement loan will be much smoother if all the documents are in place. We have curated a list of documents that you must organise in a folder along with the photocopies.Are there any tax benefits?Yes.Under Section 24(b) of the Income Tax Act, you can avail deductions of up to Rs 30,000 per annum for the interest paid. Both the owner and co-owners are eligible for tax deductions.How to select the best lender?We suggest choosing the same lender where you have an existing home loan (if any) for a smoother process. This is the faster way of getting a loan approved as the bank already has your documents.However, in such a case, your property would act as collateral for this loan.Opting for the same lender also comes with more benefits in terms of funds. Let’s take HDFC, for example. An existing HDFC customer availing a home improvement loan of up to Rs 30 Lakh will get 100% of the improvement estimate. However, for a new customer availing the same amount, about 90% of the improvement estimate will be released.The finer detailsAs with a regular home loan, the maximum tenure for a home improvement loan is 15 years. At present, the average interest rate is in the range of 9.5-10.5%, depending on the lender, loan amount, and eligibility.The processing fee for these loans generally ranges between 0.5% and 1% of the loan amount.
Where do I start with home improvement?
“A roof above all else!” This was advice given to me when I first started renovating homes, and I have never forgotten it. It was a bit of a double entendre, but the point was that a leaking roof could damage other improvements so always start with that.In your case, interpret the advice as, “Always repair first, what is causing or could cause damage.” Mr Wong may very well be right. (No pun intended!) If the plumbing is suspect, do that first. On the other hand, if the windows are leaking and the plumbing is stable, Do the windows first.If nothing is of such concern as to require immediate attention, start with the outside (e.g. windows) and work in to minimize damage to remodeled areas.
What are the best home improvement loans?
Many owners decide to give their houses a makeover during the end-of-the-year festival season. If you, too, are looking to renovate your house but don't know how to finance the expenses, you could take a look at the various loans available. Home improvement loan could include remodeling, painting, internal and external repairs, and even bigger construction work such as adding a floor. Home improvement loan is meant for renovating a house and is given to a person in whose name the property is. Maximum tenure is typically 15 years and interest rates at present are in 9.5-10.5% per year range, depending on the lender, loan amount and eligibility. These days one can look for their lender online. You can search for people who are willing to lend loan on Monexo.
Do I have Home Improvement phobia?
I do the same thing. I've done improvements around the house before. I've updated old electrical wiring, replaced baseboards, light plumbing, etcetera. I did some of those projects the first time from a book. But back then, I had money. Invariably, when you tear in to a wall or under a floor to gain access to something, you always find other problems that should be addresses as long as you're in there. I had the money to turn a 200 dollar project in to a 400 dollar project. It's a type of perfectionism - to get everything right in one effort, and before everything is sealed up again. Now, my finances are tighter. I'm afraid to tackle updates for the fear of not being able to do it right due to limited finances, so I just don't even start 'em. Cost over runs also involve having to go to the hardware store several times to get new tools, bits, blades, and so on. I am afraid of not being able to afford the additional "surprises." Do what I do - not a dam thing.
Why does Wilson on "Home Improvement" never show his face?
He did not want to show his face because he did not want fans always bugging him.He wanted to lead a ordinary life,like everyone else.
How long does it take to furnish a home improvement store? I'm working on a novel, and I'm curious how long it takes to put in the shelves and stock the merchandise in a store like Lowe's or Home Depot.
Having done this approximately ten years ago, from walking into a 100,000 sq.ft. shell to grand opening takes about 3 months. 2 weeks for shelving, 5 weeks for stocking, 1 week for cash registers, paint tinkers, signage, and you are ready for “soft” opening.About 1 month of training and working out the bugs (while) open and you are ready for Grand Opening. This included Thanksgiving, Christmas, New Years, so 11 days could be eliminated.
How does one learn DIY/home improvement skills?
Several ways you could get there. Here's the path I may have took:1. Grow up in an old house/farm with father, mother and grandparents that refuse to call a tradesmen to fix anything. Watch everything they do, learn from their mistakes, learn from their successes, try not to get killed in the process by falling through the barn floor.2. Go to work for some various tradesmen in high school. Learn how to paint from watching them while you're on the floor filling nail holes with putty, learn how to do carpentry while watching them from the floor where you are picking up nails...just don't get killed because you are working without a work permit and aren't supposed to be there.3. Sign up for shop classes in high school or volunteer to build the sets for theater and then discover the wonders of electricity when another student flips the breaker a little sooner than you wanted. Just don't get killed when you are zapped while on the catwalks of the auditorium.4. Buy a really old, cobbled together house that needs everything repaired. As things break, seek advice from your older coworker who once owned a broken down house or from the old contractors that meet at the hardware store every morning at 9:00. Just don't get killed by the fireball that results when you blow up your propane furnace.5. Become good buddies with an electrician or whoever. Then meet them at the bar on Saturday afternoon to pelt them with questions. Just don't get killed in a bar fight because sewer repairmen don't drink at the nicest bars.6. Jump in head first and just do it. Understand that it may end up costing you more than calling a pro in the first place. Either because you screw up and have to buy a second sink/toilet/junction box/etc. to start all over or because you end up calling a pro to fix your mess. Just don't get killed by your spouse when you leave on a 4 day business trip without finishing your plumbing job necessitating that the water stay off to the house the whole time you are gone. 7. Read a heck of a lot of "Operation and Installation" manuals for various appliances. They give you a lot more insight than any textbook. Then scour the internet for forums inhabited by actual electricians/carpenters/etc. Not many ways you can get killed here.What doesn't work:1. Watching any DIY show. They skip so many steps, its rare you can ever glean more than what the project looks like at the beginning and at the end.
How did the show Home Improvement end ???? 10points?
Tim arrives at work and prepares for the final show. Heidi reveals that she's pregnant again. Jill makes the call to Indiana. The all-tool band returns for the final Tool Time along with Sparky, Eddie, Felix and Mario Andretti. Wilson and Tim decide to take their fence down to make more room for the wedding. Morgan offers Tim more money and an executive producer credit to stay but he turns it down and doesn't want Jill to know. Harry and Dolores return for the wedding. Benny, Marty and Jeff bet on the outcome. Brad hits on Heidi with her husband on a business trip. Al and Trudy are married. Jill reconsiders Indiana after Morgan arrives and tells her of his rejected offer. Tim toasts the happy couple. Whether it's real or a figment of Tim's imagination is unknown, but the Taylors decide to go, uprooting the house in the ultimate home project.
Why does "Wilson" on "Home Improvement" hide his face?
Wilson's Face - Wilson was inspired in part by a neighbor that Tim Allen had when he was too young to see over his neighbor's fence (and therefore unable to see his neighbor). As a result, the bottom half of Wilson's face was almost never seen on the show. Initially he was always seen with his mouth obscured by the fence; the gag quickly became covering the lower half of his face with other props, wardrobe, set pieces, other characters' heads, or using unconventional camera angles. Occasionally, the top half of his face would be covered leaving only the bottom half visible, and rarely, his entire face would be shown disguised by makeup for a costume. Earl Hindman's face was fully shown following the series finale episode while taking his final bow, though he did come out holding a miniature fence on a stick over the lower half of his face for one last gag. However, his full face is very briefly seen over the fence in the pilot episode.