How to finance plumbing improvements

Press, 14 June 1984, Page 26

How to finance plumbing improvements

There is probably nothing you can do to your home which will increase its value and your pleasure in it more than upgrading your bathroom and kitchen.

Any real estate agent or person with first hand experience of selling will tell you that often the bathroom and kitchen make or break the sale and their appeal is a major factor in the price you can get. Unfortunately, many people keen to have their plumbing improved feel they do not have the means to finance it.

There is a variety of options open, however, and despite the fact that inflation has dropped, it is still true that it will never be cheaper to have the work done than right now. The Plumbing Information Bureau advises homeowners considering improvements to think positively and investigate the available avenues of finance. The bureau maintains that, as with many other such projects, by the time “sufficient” savings are accumulated the price of the project will have increased and still be unattainable. The bureau also considers the pleasure homeowners will immediately get out of their modernised and beautified facilities doubles the incentive for going ahead. The first step is to decide

what you would like done — the ultimate desirable improvements — and then the priorities for action. At this stage call in your member of the local Master Plumbers Association, explain that you want a quote for the purpose of obtaining finance and ask his advice.

One of the best ways to cut plumbing costs long term is to have all preparatory connections made at one time. For example, if you cannot afford a dishwasher right now but plan to install one later, have your plumber install the connections for it while he is putting in the new double sink or waste disposal unit.

Likewise, if you are having major changes made in the bathroom and it backs

on to a bedroom where your dream is to one day have an ensuite, get your plumber to make provision for it. If you know you want something done but are not sure what, visit your local plumbers merchants. They will have a wide range of products and their simulated settings are sure to inspire your imagination.

Manufacturers’ brochures also often depict the products installed and will indicate the colours and different models available. If your plumbers merchant does not have a specific item on display he can probably order it for you. Once you know the extent of the renovations you want done and the price of the plumbingware it is time to start shopping for finance. Depending on the estimated cost, you may find a medium term bank overdraft sufficient or you may wish to apply for a loan.

Banks and finance houses make personal or home improvement loans at terms to suit your needs or you may be able to get finance from your insurance company or building society.

The Marac Home Improvement Loan Scheme is endorsed by the New Zealand Society of Master Plumbers and your local member of the Master Plumbers Association should have an information brochure.