Money Talks: How To Budget Your Way To Raising Your House

Okay, let’s talk about money. Even though it is not our forte, we are definitely in the business of raising houses at Black and White Houseraising and Restumping, and we have spoken to many clients about how they did it. If you have realised that you need to come up with the cash to raise your house, whether it is to lift it out of flood waters, or simply to make more space for yourself – your next question is probably going to be around where the money is going to come from. Good question. We have a few ideas that we can throw your way to assist you with budgeting for your renovation.

Start with a Plan

The first thing you will want to know is how much cash you are going to need to get the job done. This means working out exactly what you want to do, and then getting a quote from a professional house raising company, such as us! Once you know how much you are going to need, you can work out how much you already have, and start working towards making up the difference.

Track Your Cash Flow

Budgeting for anything means moving your current money around, using it more wisely, or getting more from somewhere. The first step we would suggest is to start tracking your cash flow, to enable you to see any areas where there could be money saved. Usually there is a lot spent on your day-to-day spending, which could be used in a more economical way to create savings for yourself. Knowing where all the money is going will help you in acquiring more savings.

Consolidate Your Debts

If you currently have a number of different debts, including a mortgage, car payments or credit card, then it might be time to consolidate them into one debt that will start producing results for you. Financial advisors call this turning bad debts into good ones, and with a little bit of know-how, and some good advice you could find yourself in a better position to pay for the renovations without too much worry.

Talk to a Financial Advisor

As professionals in our field, we appreciate the value of getting the right advice from someone who knows their business. It is for this reason that when it comes to money ‘stuff’ we cannot emphasise enough how helpful it is to talk to someone who knows the money business inside out. Find a good financial advisor in your area and talk to them about how they can help you achieve your financial goals and get your renovation started as soon as possible.