Home improvement is a common feature of homeownership in the United States. American homeowners spend more than $400 billion on renovations every year, and according to a Harvard study, a post-coronavirus surge in remodeling spending is already blossoming into a massive collective expenditure for U.S. property owners moving into the future.

Yet the financial aspects of property renovation are often daunting for many homeowners who are looking to improve the beauty and functionality of their unique slice of real estate. While the allure of a newly renovated property that screams of personality is strong, financing the operation can be tricky for those who are new to the world or real estate or homeownership. For first-timers in the renovation space, utilizing one of these four ways to finance a home repair or renovation can get you moving toward your goal with lightning speed.

1. DIY projects are often a great way to start out and save money.

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Many of the high-dollar repairs and renovations that homeowners consider for their property can be done on the cheap by simply engaging the task without the help of a professional contractor or technician. Projects like painting the walls or cabinets offer a simple and effective entry point into the renovation and repair space without a prohibitive price tag to go along with the job.

In fact, many homeowners cherish the time they spend with loved ones working on a home improvement project together. A weekend spent painting with your significant other or children can be a happy memory that lasts as a strong bond for many years to come. As well, painting in particular is a fantastic way to add value to your home while also sprucing up the ambiance and changing the energy in the space for the better.

2. Hire a professional for the big repair jobs early on in the process.

Unlike painting or decorative elements, it’s best to avoid DIY HVAC repair, roofing installation, and many other highly technical jobs that must be done around the home. For air conditioning repairs, the best way to ensure that these types of jobs don’t erode your cash flow is to schedule routine maintenance throughout your time in the home. An air conditioning and HVAC system technician are well-versed in the troubles that can quickly degrade an AC system and is your first line of defense as a homeowner battling with thermostat, furnace, or HVAC unit issues.

Systems in your home, like the air conditioner, require routine upkeep in order to maintain their efficiency and to ensure that you won’t ever get stuck with a surprise need for an emergency replacement. Air conditioning units often last for around 15 years if they’re well cared for, but this can quickly shorten in homes that don’t maintain good servicing discipline. In order to mitigate large expenses, it’s better to maintain a well-planned servicing schedule with the help of a professional technician.

3. Utilize a home loan for expansive upgrades.

Home loans are a great way to deploy large resources for major renovation and repair works. Whether you’re facing a cracked foundation after a natural disaster like a hurricane, blizzard, or forest fire, or you are sick and tired of working out of the kitchen and want to add a home office to the floor plan, home loans are a great option. With loan providers like Pacific Private Money, gaining access to the equity in your home or utilizing your credit score for additional unsecured borrowing opportunities can help you access the funds you need for a comprehensive rebuild or addition so that your family can get back to enjoying time in the home.

4. Don’t forget to include a home warranty for maximum peace of mind.

The final installment in home maintenance financing is the home warranty. A warranty is a policy that requires monthly premium payments, but guarantees repairs on a pre-set schedule, along with emergency repair services in the event of a breakdown of one or more components in your home. Warranty plans are a great way to defray the costs of repair works by scheduling them in advance and pushing payment for these services out across many months or years. As well, by purchasing a warranty you gain an important discount over the actual cost of these individual services.

Home renovation and repair don’t have to be prohibitively costly. Check out these options for greater peace of mind.