Estimating the cost of a home improvement project involves many steps, many of which can help you ensure you have a realistic budget and can plan accordingly.

Here’s a handy guide to help you estimate the costs:

1. Define the scope: Clearly outline what the project will involve. List all the tasks and materials needed for your home improvement project.
2. Research costs: Look up the average cost for each aspect of your project. For example, if you’re renovating a kitchen, research the costs of cabinetry, appliances, labour, etc.
3. Get quotes: Contact local contractors or tradespeople to get quotes for the work. It’s always a good idea to get multiple quotes to compare prices.
4. Include a contingency: If you are able, consider adding a little extra money to your budget for unexpected costs.
5. Consider additional costs: Don’t forget to factor in additional costs such as permits, professional fees, or temporary accommodation if needed during the renovation.
6. Use online tools: There are online calculators that can provide a rough estimate based on your input. These can be a good starting point.
7. Loan Costs: Be aware of any additional fees, make sure you take the time to read and thoroughly understand any documents relating to your loan.

At V12 Personal Finance, we can help you get your project started. Checking your eligibility is quick and easy, and you can see all of your offers from our trusted panel of lenders in one place.

Once you’ve chosen a lender, you can apply for a loan that covers the cost of your project. Please keep in mind that the amount you can borrow is dependent on your personal circumstances and the maximum loan value for the lender can differ.

Click here to read more about loans for home improvement and to check how much your loan could cost. 

Credit is subject to status. You must be a UK resident aged 18 and over. Regular income provable. Minimum loan term is 12 months. If you are a homeowner, V12 Personal Finance, which is a trading name of V12 Retail Finance Limited, may provide you with details of loans secured against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The % APR rate you will be offered is dependent on your personal circumstances. If consolidating existing borrowing, you may extend the term and increase the total amount you repay. Secured Loans will attract a broker fee and a lender fee upon completion of the loan and these may be added to the amount borrowed. Full details will be provided by the credit broker.

V12 Personal Finance is a trading name of V12 Retail Finance Limited. V12 Retail Finance Limited is a credit broker and not a lender. V12 Personal Finance introduces to one or more lenders or credit brokers, for which we will receive a fee or commission payment for each successful paid out loan. The amount of the fee or commission payment will vary depending on the product chosen and the amount of credit taken out.