5 Tips & Tricks for Financing a Minor Home Office Improvement

For some people, a home office is a place that’s designated for working. You might be a remote employee or a small business owner. On the other hand, you might utilize a home office as a place to resort to for paying your bills or storing important documents and files. No matter how you plan to utilize the space, a home office can be an integral part of a home.

If you find yourself in a position of wanting to give this unique space in your home a facelift or minor improvements but are getting caught up on the financial aspects of it all, you’ve come to the right place. Here are five tips and tricks to make financing a minor home office improvement smoother and less overwhelming:

1. Come up with a plan.

The first tip to keep in mind when planning the finances for a minor home office improvement is to come up with a plan. Take a look around your current office space, or the space that will become one, and determine what changes would make it not only aesthetically pleasing, but also practical.

This step may include deciding what type of furniture you need, what you could get rid of, what the layout should be, or how the space needs to function. Once you’ve formed a solid plan of attack, you can begin creating a budget.

2. Develop a budget.

The process of planning your budget can be stressful, but it is an essential piece of a minor home improvement project. Having a predetermined amount of money to utilize will help prevent you from overspending, which we all know can be easy to do.

There are many variables that go into creating a budget, like what improvements are splurges versus budget buys. This can include construction and furniture purchases. After all, the cost of furniture alone can vary drastically from store to store. Make sure to prepare for expensive items as well as potential unforeseen expenses that have a way of popping up during projects.

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3. Research financial options.

Do your research on the financing options available surrounding minor home improvements. Consider utilizing credit card rewards that can potentially offer a percentage back to your account or offer special discounts on eligible purchases. You could also dip into your cash savings or take advantage of a HELOC or personal line of credit. There is no wrong way to go about financing your minor home office improvement, but the trick for success is to come up with a good financial plan to ensure you’re prepared.

4. Focus on the bigger items.

Once you’ve come up with a vision of how you want your home office to look and function, and you’ve determined a budget, the next step is to start planning the items you’re keeping and what you need to buy. The trick is to follow a list of essential home office items while creating your shopping list.

Before you dive into the minor details such as office supplies or wall art, focus on bigger items like the perfect desk and chair, or possibly a new computer. From a financial perspective, smaller details and decorations can be added down the road when you have extra money on hand. Prioritize purchasing and financing the bones of the home office first, utilize the space, and then determine what decor and supplies you need for working from home.

5. Do it yourself.

A great tip for saving some money and being resourceful with your finances is to do as much of the work on your own as possible. The price of hiring a service—whether it be a contractor, a furniture removal company, an installation crew—can quickly become expensive. If you’re handy with tools and machines, this is an excellent route for cutting back on the budget. However, you don’t have to be handy to reap the benefits.

Grab a few friends or family members and ask if they’ll help you move furniture around, hang mirrors or photos on the wall, or remove unwanted pieces from the room. Any task that can be done without having to pay someone for their service is a perfect tip to keep in your back pocket.

Creating your dream home office doesn’t have to be a financial burden. With a little bit of strategic planning, you can easily build a space that’s not only practical, but also a place in which won’t mind working from home. Keep these tips and tricks top of mind and you’ll be ready to work productively in your new-and-improved workspace.