SoFi

Whether you’re thinking about a small bump-out or a full-blown two-story addition, increasing the size of your home can make it more functional, look more attractive, and increase its resale value. The trouble is, additions tend to be big, time-consuming, and expensive projects — and they can easily go wrong if you don’t plan them right. Read on to learn six key steps that will help you complete an addition on time, on budget, and with the least possible amount of stress.

How to get started with a home addition

Home additions can boost the value of the home while enhancing aesthetics and functionality. In fact, home additions and renovations can be among the most effective ways to increase your home’s value, and you can tailor the construction to fit your needs and wants.

To transform your home addition ideas into a completed project, there are a few steps to consider first:

•  Create a plan

•  Set a clear budget

•  Work with trusted professionals

•  Decide what parts of your home addition you can do yourself

•  Research and obtain permits

•  Fund your project

Create a Plan for Your Home Addition

Perhaps you’re adding an extra bedroom and bathroom to the back of your house so you have a place for guests to stay. As part of the process, you’ll need to first make sure that the addition will fit within your property lines. You’ll also want to check with your local government to see how closely codes in your city allow you to build next to someone else’s property.

While creating your home addition plan, also ensure that any construction will not interfere with utility lines or pipes, as well as whether the structural changes you’re considering will fit into the framing and foundation of your building.

As you design the addition, think about them from two perspectives: first, how these rooms will add value to your living space; then, how the construction will impact the outside of your home, architecturally speaking.

You’ll also need detailed plans drawn up by an architect or builder that describe the scope of the work and the materials needed. To consider how home additions may increase the value of your home, you may want to use an online home project return on investment (ROI) calculator.

One strategy for approaching home additions is to create your dream list, then have alternate choices in mind if your budget, material availability, or other external factors create a need to alter the project down the road. For example, you may love the look of marble flooring, but its price point might be higher than you’d initially estimated — or perhaps it doesn’t blend in with the rest of your house once you’ve started laying out the plans. Having a back-up plan — and one that’s cost-efficient at that — could help keep your budget in check.

The cost for an addition will depend on the size and type of addition, as well as where you live, but you can expect to pay somewhere in the neighborhood of $150,000 to $250,000 to add 1,000 square feet to a house.

Also keep in mind that if you want your addition to blend in with the rest of your house, you also may need to plan for improvements in existing rooms.

Set a Clear Budget for Your Home Addition

To come up with a budget for your home addition, it’s a good idea to obtain bids from three different contractors, adding in 15% to 20% to the overall project price given by the contractor to cover unforeseen costs.

If the ballpark figure is too high and doesn’t align with your budget, then you might want to look at alternative choices for materials that will still give you the general renovation you desire. You could also scale back on your plans or save some of the more costly home addition projects for the future when your budget allows.

If you intend to work with a specific contractor, then your chosen company may be able to help you find lower-cost options — for example, replacing granite countertops with laminate ones — and offer creative solutions gleaned from years of industry experience. Or, you may want to look at reducing the scope of your project to a smaller addition or even asking the contractor for competitive pricing for the off-season.

Work with Trusted Professionals

Whether you do some of the home addition work yourself or plan to have the professionals build the entire addition, it’s crucial that you hire the right contractor for your needs. Tips for working with contractors include:

•  Get three to six bids, then research companies that seem like good matches. You can check for information about these contractors at LinkedIn, Angie’s List, and the Better Business Bureau . Have any complaints been filed at your state’s contractor board? (You can find state-by-state licensing requirements for contractors here .)

  For contractors who interest you, you may want to reach out to references they provide for personal experiences from past clients.

•  Be wary of suspiciously low bids. If a quote comes in significantly lower than that of the other contractors who bid your home addition project, it’s possible that the contractor did not understand exactly what you want; this can lead to significant problems if you hire this company without clarifying specifics.

•  Hire a contractor who you think you can work well with, but don’t base your decision largely on emotion.

Decide What Parts of Your Home Addition You Can Do Yourself

Say the home addition ideas you have are necessary to solve space problems, perhaps you’re having a baby, or maybe your mother is moving in with you — but you’ve got to find a way to contain the costs of the addition. In this case, it might make sense to figure out what you can do yourself.

If you’ve got the experience needed to do the demo work safely without damaging load-bearing walls, electrical wires, and the like, this can save you some money on labor. If you’ve got professional-level skills in plumbing or drywall, you might talk to your contractor about taking on those tasks yourself and further reducing the cost of labor. Or you can attempt to do the finish work, such as sanding walls, painting, and general cleanup.

Research & Obtain Permitting Requirements

Unfortunately, a home addition isn’t as simple as deciding what you want to do, saving up, then paying for the work. You also need to make sure your home is appropriately zoned for the home addition or remodel. Depending on the scope of the project, you may or may not need a permit.

For example, if you want to build a deck in some states, you need a permit if you intend for it to be more than 30 inches off the ground. Getting to know your local codes can help surmount significant hurdles as the project unfolds, which often will save time and money for homeowners.

Strategically Fund Your Project

To find materials for your home addition on a budget, you could shop at stores like a Habitat for Humanity ReStore , attend auctions, or explore similar options to find salvaged materials. If you’re employing a contractor, however, you’ll want to make sure they are willing to work with recycled materials and ones that may not be standard size.

For a higher-priced project, it might be tempting to use credit cards to pay for expenses. If you’re doing this to maintain a record of your spending or to take advantage of credit card reward points, this can be a good strategy provided you can pay off the balance quickly, ideally within a single billing cycle.

But when you can’t pay off the balances, it can be easy to get caught up in a spiral of debt, and credit card debt is especially challenging. Why?

Credit card interest rates are notoriously high. What’s more, credit card companies typically compound daily, which means they calculate the interest you owe daily and add that to the card’s balance. You then pay interest on your balance, plus any accrued interest, until you pay your balance off in full.

Getting a Home Improvement Loan for Your Home Addition

If you don’t have enough cash to pay for your addition in full and up front, and don’t want to run up credit card debt, you might consider getting a home improvement loan. This is essentially an unsecured personal loan that is used for home upgrades and renovations. Unlike a home equity loan or line of credit, you don’t need to have any equity built up in your home, or use your home as collateral for the loan.

With a home improvement loan, you receive a lump sum up front which you can use to pay for your addition; you then repay the loan over a set term, often five to seven years, with regular monthly payments. Interest rates are typically fixed.

The Takeaway

A home addition can increase the value of your property while also allowing you to retrofit your house to your current lifestyle. There are many factors that figure into a big decision like a renovation, and it’s important to consider it from as many angles as possible.

If you’re interested in getting a loan to finance your home addition project, SoFi could help. SoFi’s home improvement loans offer competitive, fixed rates and a variety of terms. Checking your rate won’t affect your credit score, and it takes just one minute.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOPL0623039

Upgrading your home doesn’t have to involve a full renovation. There are a number of light lift projects that can give your home a whole new look and feel, and even increase its resale value. Exterior upgrades, like fresh paint, a new front door, and better landscaping or outdoor lighting, can add to your home’s curb appeal. Indoor improvements, such as updated lighting fixtures, paint, or wallpaper, can give the interior of your home a more up-to-date, high-end look. Here are four ways you can upgrade your home without breaking the bank.

Exterior Improvements

A home’s front door is the focal point of the exterior. To upgrade its appearance, you might replace the door, or paint it and add new hardware. Decorating the door with a seasonal wreath or another personalized touch can also add to its charm.

Besides a front door refresh or upgrade, other exterior improvements you might consider include a new mailbox, a new porch light fixture, and perhaps some window boxes with plants and fresh flowers that add a bright contrast to your home’s exterior color.

Front door styles that are currently trending include bold colors (from rose to deep greens and rich blues), natural wood stains, and more glass (such as custom inserts and floor-to-ceiling sidelights).

How you landscape your front yard will depend upon where you live and the climate there. In general, though, modern trends include:

•   Natural landscaping using native plants, creating landscaping that’s eco-friendly and easy to maintain.

•   Pollinator gardens that attract butterflies, bees, and other insects that help pollinate.

•   Edible gardens, including lettuce, peppers, tomatoes, and more. Creativity is key!

Recommended: 15 Ways to Boost Your Curb Appeal for a Winter Open House

Lovely Lighting

Outdoor lighting doesn’t need to be white — filters can add a range of colors. These lights can spotlight key areas of landscaping, highlight where you like to entertain, or look attractive for even more curb appeal while providing illumination.

Size-wise, both tiny and boldly large lights are in vogue and, although lanterns aren’t a new trend, they’re still considered stylish.

After a period of all-white being a hot trend for interior lighting, table lamps and hanging lighting fixtures are appearing more often as dark neutrals in brown, black, or gray. They can be used to update the white, cream, or gray choices in a home.

Paying attention to texture in lighting fixtures can add interest and variety. Materials can range from wood to wicker and rattan, and can be crafted in contemporary shapes to avoid an overly rustic look. Also still trending are geometrically designed lighting fixtures, from simple to more complex shapes.

Recommended: Guide on Remodeling Recessed Lighting

Painting and Wallpapering

Painting rooms in a home can transform their appearance. What colors are trending? Grey and pale pastel tones are becoming less popular as homeowners begin to favor brighter shades, such as vibrant, saturated hues, often combining them with warm neutrals and earthy tones for an inviting balance. However, unless you’re planning to sell some time soon, personal taste is what matters most when picking paint colors.

Wallpaper trends also run the gamut, including those with a texture and colors often inspired by landscapes. In this style of wallpaper, expect to see some blues, greens and neutral shades. Wallpaper made out of natural materials is trending, whether that’s grass or straw, wicker or silk. This can provide a more sustainable choice and can pair well with softer lighting.

Wow Factor on Windows

In-style curtains often have hues found in nature, from green to ochre, and can also feature flowers, landscapes, and more. Geometric prints or two-tone materials may also appeal to some people. Velvet can be used to create a more intimate space.

Consider using double or triple curtain rods to add layers of window coverings. Then you can add a layer that filters light and enhances privacy, while also selecting curtains with the appearance you enjoy.

Recommended: How Much Does It Cost to Replace Windows?

Costs of a House Upgrade

The type of house upgrades listed here might be considered low-cost or low-end renovations, and can average between $15,000 to $40,000 for a 2,500 square foot home. If, once momentum gets going, the low-end house upgrade turns into a middle-end one, the average cost could range between $40,000 to $75,000.

If calculating upgrades by the square foot, figure between $10 and $60 per square foot, depending upon what you’re doing (knowing that the room being renovated can cost up to $150 per square foot).

Another cost-related factor is where the home is located. Pricing in urban areas might be twice as high as in rural areas, depending on the area’s costs of living.

Plus, upgrades in older homes may take more time and attention to complete. If the home is officially considered to be historic, there may be guidelines about what changes can be made.

Recommended: Renovation vs. Remodel: What’s the Difference?

Financing a House Upgrade

Sometimes, homeowners are able to pay for these upgrades out of pocket. This can be true when the costs are relatively small or when money has been saved for the costs of the renovation. This can be the smart choice when possible: no debt, no interest to pay.

A downside to paying for home upgrades with cash may be that the homeowner empties a savings account or cuts corners on the renovations to avoid needing to borrow funds. Or, if an emergency occurs and the savings account was used to renovate, then high-interest credit cards might need to be used to address the emergency.

You might consider a home equity line of credit (HELOC) to finance a house upgrade. This type of loan allows you to borrow against the equity in the home to pay for renovations. How much is available to borrow will depend upon how much equity is available and the loan-to-value ratio (LTV) that a lender permits.

For example, if a lender has an 80% LTV ratio, that means the institution would:

•   Appraise the home (e.g., $250,000).

•   Calculate 80% of that ($200,000).

•   Subtract current mortgage balances (e.g., $125,000).

•   Consider what’s left over ($200,000-$125,000 = $75,000) to be equity in the home.

The lender would also consider the financial profile of the borrower when reviewing the loan application. HELOCs often have a low initial interest rate and, usually, the homeowner can choose to pay interest only during the draw period. However, there may be upfront fees and the rate is often variable with high lifetime caps.

Another option might be a home improvement loan, which is an unsecured personal loan and not attached to the home’s equity. Funding can usually be granted more quickly with fewer, or sometimes no, fees. This may be a good option for people who don’t have enough equity in their homes for their project or who don’t want to use their home as collateral.

The Takeaway

There are a number of ways you can upgrade your home that don’t involve tearing down walls or putting on an $150,000 addition. Lower-cost upgrades may still require spending more cash than you have just sitting in the bank, however. Plus, you may not want to deplete your savings in order to upgrade your home.

If you’re interested in learning more about using a personal loan to finance one or more home improvement projects, SoFi could help. SoFi’s home improvement loans offer competitive, fixed rates and a variety of terms. Checking your rate won’t affect your credit score, and it takes just one minute.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

​​Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

SOPL0623045

Now that remote and hybrid work have become the new normal, you may find yourself spending a fair amount of time in your home office. Is it up to snuff?

Ideally, you want your home office to both inspire your creativity and allow you to get down to business. Unfortunately, many of us are still working from cramped, messy, and makeshift at-home work spaces.

If your home office space could use some sprucing, read on. Here are 10 simple makeover ideas that can transform a drab at-home work area into a well-organized and stimulating work space.

1. Refreshing the Home Office

For those lucky enough to have a dedicated home office space, it may be time to give that area a little refresh. Even though corporate office spaces tend to be a little drab, a home office doesn’t have to be.

Painting a home office a cheery color and making the space feel homey with the addition of a couch, a rug, or pictures on the walls will make a home office a welcoming place to spend your working hours.

Of course, a home office needs to be practical, too. Finding an organization system to keep office supplies and files neatly stored will provide some much needed peace of mind during busy work days.

When setting up a home office, it can be helpful to think about what systems were appealing in the workplace and which were more of a hindrance. Customizing the space to fit personal preferences and needs is one of the perks of working from home.

2. Taking Over the Guest Bedroom

For those who don’t have a separate room to dedicate to a home office, it can be tricky to strike a clear balance between work and play. Working in the bedroom or on the family room couch can make it difficult to mentally separate work time from personal time.

A guest bedroom can be an ideal spot in the home to add a desk. The space is likely unused most days of the year and you can easily shut the door during the workday when you need privacy. You can also shut the door after a long day of work when you need to feel like you are at home and not at work. Out of sight, out of mind.

A guest bedroom may also be easy to keep tidy, as most members of the household probably don’t spend too much time in that room of the house.

Recommended: 13 Work From Home Jobs With Flexible Hours for Moms

3. Renovating the Garage

If a guest bedroom isn’t an option, a garage may be an ideal space to build a home office. This project may require renovations, but this space feels very separate from the rest of the home, which can be appealing.

Adding flooring, installing heating and cooling systems, and adding lighting — task and ambient — may go a long way towards making this space both comfortable and functional. A coat of paint in a color that promotes productivity might help, too.

4. Rethinking Your Desk

For homeowners with a big family or apartment renters who are embracing the studio lifestyle, it might be hard to squeeze in another large piece of furniture. A kitchen table or dining room table can serve double duty and provide plenty of space to spread out.

If multiple members of the household are working from home, this large space can even act as a coworking space of sorts. After all, bumping into a loved one in the break room (aka the kitchen) might be a nice surprise during a stressful workday.

The key to making this work is to make this “office” portable. Having a tote bag or storage box to stash any work supplies at the end of the day will be ideal when it’s time to eat dinner. Finding ways to remove those work vibes from a personal space is important for fostering good work-life balance.

Recommended: 32 Inexpensive Ways to Refresh Your Home Room by Room

5. The Right Support

No matter what place in the home you decide to make your workspace, it’s important to have supportive seating. Having the right chair can make all the difference, and in many cases function is much more important than aesthetics.

Having a chair that was specifically designed to provide proper back and neck support during long work days is key.

An ergonomic chair that includes features such as adjustable height, tilt control, lumbar support, and solid padding can all make the workday a bit more comfortable.

6. Setting the Scene

While having the right tools — desk, chair, computer, etc. — is important to building a successful home office, working in the right atmosphere is important, too. Spending the first 10 minutes of the workday setting the scene can be a major game changer.

For those working from home while other members of the household are working, attending virtual school, or simply existing loudly (hello, adorable but noisy babies), creating an appropriate workplace atmosphere may lead to better focus and productivity.

Start by giving the workspace a little spruce and clear out any unnecessary clutter. Put on some light background music that isn’t distracting (think classical or nature sounds) to block out any unwanted noise. Write a to-do list that prioritizes tasks for the day.

Recommended: 20 Renter Friendly House Updates

7. Being Zoom Ready

Having a space that is appropriate for video calls is essential for looking professional at home. Zoom, Skype, or Microsoft Teams calls don’t have to take place at a desk if the background isn’t ideal. Present your best self in a quiet spot in the home with good lighting and a clean background.

8. Getting Inspired

In an ideal world, all workspaces would inspire workers, allowing them to feel creative. One of the advantages of working from home is the ability to have more control over the surroundings, making it an inspiring, creative workspace.

Decorating the space in your favorite colors; adding photos of loved ones, favorite vacations, or hobbies; incorporating a vision board; or keeping a brainstorming journal at the ready are some ways to make the environment one where there is room for creativity and inspiration.

9. Adding a Standing Desk

In your home office, you make the rules. If you don’t want to sit for eight hours a day — who can blame you? — using a standing desk or adding a standing desk converter is a good way to incorporate some movement into the workday.

10. A Room with a View

Last but not least, setting up a home office to take advantage of any pleasant views might bring some peace, calm, and inspiration into the space. Facing a desk towards a window, French doors, or any other space in the home that has a view of the outdoors or even just greenery in another part of the home can be stress reducing.

The Takeaway

While some employers might offer stipends or reimbursements for setting up a home office properly, many employees may have to foot the bill themselves. This expense can be worthwhile, but may not be one that many workers planned for.

For those who need help financing that new home office space or purchasing furniture, there are a few options that may be worth considering.

One option that can work well for a small to midsize project (like a home office renovation) is a home improvement loan. This is essentially an unsecured personal loan that is used for home repairs or upgrades. You receive a lump sum up front which you can use to fix up or refurbish your home office; you then repay the loan over a set term (often five to seven years) with regular monthly payments. Interest rates are typically fixed.

If you’re interested in exploring your personal loan options, SoFi could help. SoFi’s home improvement loans offer competitive, fixed rates and a variety of terms. Checking your rate won’t affect your credit score, and it takes just one minute.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

​​Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SOPL0623036

Home appliances can be expensive, so you definitely want to get the entire life out of them before you replace them. At a certain point, however, it can make more financial sense to replace a broken appliance than to pay to have it repaired. Where do you draw the line? Read on to learn how long your major home appliances should last, plus signs that it may be time to replace them.

Before Replacing Anything

Before you replace any appliance you believe is beyond repair, you’ll want to make certain the appliance is no longer under warranty. Calling the manufacturer before shelling out cash for something new when the old one might still be under warranty is a good place to start.

Beyond the manufacturer’s warranty, there may be other options for appliance replacement. Some homeowners may have a home warranty, which acts as a sort of supplemental insurance on appliances in the home that homeowner’s insurance doesn’t typically cover.

It’s important to understand the details of the home warranty to make sure all the rules are followed to have the repair or replacement covered. Another option may be to have a small amount of money saved to cover any potential repairs or replacement that will certainly come up sooner or later.

Recommended: What Are the Most Common Home Repair Costs?

Replacing Common Home Appliances

Dishwasher

Typical lifespan: The average lifespan of a dishwasher should be about 10 years. However, that doesn’t mean everyone will get a decade of bliss with their appliance. About 30% of all newly purchased dishwashers are likely to develop problems or break within the first five years.

Cost to replace: The average cost, with installation, of a new dishwasher is $970. Low-end models can run as little as $250, however, while high-end dishwashers can run over $2,000.

Signs of wear and tear: Typical signs a dishwasher is in need of a little care include leaking, door-latching problems, dishes coming out spotty, or the machine making unusual noises, among other things.

How to make it last longer: Reading the instruction manual and heeding the advice on cleaning the appliance and replacing the appropriate filters is the recommended best practice to get the most years of use out of the unit.

Refrigerator

Typical lifespan: The average lifespan of a refrigerator is about 10 to 15 years. However, like dishwashers, fridges also tend to come with some issues at the five-year mark.

Cost to replace: The average cost to purchase a refrigerator is $600 to $2,300, not including installation cost (which can run $75 to $200).

Signs of wear and tear: Signs of typical wear and tear include a fridge that is hot to the touch in the back, visible condensation (inside or outside of the unit), excessive frost in the freezer, and unusual noises.

How to make it last longer: Refrigerators should be cleaned regularly to keep them in tip-top shape. This means going deep by keeping door gaskets and condenser coils clean. Since a refrigerator needs space around it to operate efficiently, keeping the top of the unit clear of clutter is important. If the fridge has an ice maker or water filter, cleaning them regularly will keep them in good working order.

Recommended: The Ultimate House Maintenance Checklist

Range

Typical lifespan: The typical lifespan of a kitchen stove and oven — sometimes simply referred to as a range — are dependent on whether it is electric or gas. Electric ranges typically last 13 years, while gas ranges should last 15 years.

Cost to replace: The price of a new oven and stove combo can range from $600 to $1,300, without installation (which can run $100 to $300).

Signs of wear and tear: Usual signs of wear and tear on a range can include visible cracks in the top, lack of heat on either the cooktop or in the oven, and control panel issues.

How to make it last longer: Making a range last longer through regular cleanings is a consumer’s best bet (are you seeing a theme yet?). Beyond the exterior, also make sure to clean the fans, filters, and oven interior.

Recommended: What Is the Average Cost to Remodel a Kitchen?

Washing Machine

Typical lifespan: The average lifespan of a washing machine is 10 to 13 years, though some brands claim their machines have an even longer lifespan than that. Still, about 30% of all newly purchased washers are likely to develop problems or completely break within the first five years.

Cost to replace: The cost to replace a washing machine can run between $700 and $1,300. Like the other appliances listed, the cost to install a new washer will likely cost extra.

Signs of wear and tear: Typical signs a washing machine is on its way out include leaks on the floor, unusual sounds, and water no longer filling the internal drum.

How to make it last longer: Beyond the normal cleanings, it’s also important to ensure a washing machine stays balanced, meaning make sure it stays level. After years of loads, it might toss and turn a bit, so leveling it every now and then can pay off. And, of course, regular maintenance like checking hoses and connections, checking for clogs, and ensuring filters are clear are recommended maintenance tasks.

Recommended: How to Pay for Emergency Home Repairs, So You Can Move on ASAP

Dryer

Typical lifespan: Like the washer, the dryer, too, should last about 10 years. However, as with other appliances, about 20% of all newly purchased dryers are likely to develop problems or break within the first five years.

Cost to replace: A new dryer can cost between $500 and $2,100, depending on the energy source (without installation). Like everything else on this list, dryer prices can vary greatly depending on size and features. On average, gas dryers tend to cost about $100 less than electric dryers.

Signs of wear and tear: Some signs it may be time to look into either fixing an existing dryer or buying a new one include excessive or unusual noises while in use, clothing coming out damp or not drying at all, or any burning smells coming from the machine.

How to make it last longer: Some helpful tips on making a dryer last longer include dividing laundry by fabric weight, keeping a dryer clean and free of debris, regularly cleaning the lint trap, and reducing heat whenever possible. Not every load needs to be dried on high heat — the fabric type should determine the setting used. Air drying is better for some fabrics and will give both the dryer and the electric bill a break.

Garbage Disposal

Typical lifespan: The average garbage disposal should last about 12 years with normal use. If a household uses their disposal more often than average, their disposal may not last quite as long.

Cost to replace: The cost to replace a garbage disposal, on average, is $225, including labor. However, you can spend up to $1,000 for a commercial model with higher horsepower, or as little as $50 for a lower-end, less powerful model that you install yourself.

Signs of wear and tear: Signs of wear and tear on a garbage disposal include excessive noise while in use, abnormal clogging, bad odors, and power failure.

How to make it last longer: To ensure a garbage disposal lives a long and useful life, homeowners are advised to be careful about what they put down the drain. Things like coffee grinds, pasta, or other starchy foods in large quantities shouldn’t go in the garbage disposal as they can clump together causing clogs and other issues with the blade. Using cold water when running a garbage disposal can make it easier for the disposal to break up solids, especially if there is some fat on them, and can reduce the chance of a clog. Non-food items should never be put in a garbage disposal. Reading the owner’s manual that comes with the unit is recommended.

Recommended: Cost to Repair a Plumbing Leak

The Takeaway

Things break. It’s just a part of life. But when they do it’s important to know all your financial options so you can easily repair or replace them and move on with your day.

If replacement is your best option but the cost is beyond your budget, you might consider using a home improvement loan to finance the purchase of a new appliance.

A home improvement loan is essentially an unsecured personal loan that is used for home repairs or upgrades. You receive a lump sum up front which you can use to purchase and install a new appliance (or multiple new appliances); you then repay the loan over a set term, often five to seven years, with regular monthly payments. Interest rates are typically fixed.

If you’re interested in exploring your appliance financing options, SoFi could help. SoFi’s home improvement loans offer competitive, fixed rates and a variety of terms. Checking your rate won’t affect your credit score, and it takes just one minute.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

​​Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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One of the biggest choices you’ll make when renovating your kitchen is what material to use for your countertops. Whether you go for a contemporary look with solid surface areas or opt for a French country feel with marble, the material you choose will depend largely on your kitchen style, needs, and budget.

Before you settle on a certain product for your kitchen, though, let’s examine the cost of countertops and installation by material.

Countertop Materials and What They Cost

Depending on your kitchen style, the countertop materials you choose will set the tone for the overall look of the space. There are variables in pricing based on where you live, market prices, and the materials you choose. Here’s a look at some pros and cons of commonly used materials and estimates of what kitchen countertops cost.

Granite

Granite countertops have long been a go-to material in kitchens due to style, quality, and durability. But it’s also pricey, so if it’s your material of choice, you’ll need to budget accordingly. That said, there are a number of benefits to using granite that may warrant paying the price.

Granite is a hard stone and extremely durable. It’s both difficult to scratch and heat-resistant, so you can move hot pans directly from the stove to the counter.

And while it can stain, granite is less porous than other materials. This means errant marks and spills are less likely to permanently mar your countertops. In fact, the polish that the installer puts onto the granite burnishes the stone against all but the most extreme abuse.

Estimated cost of granite countertops: $40 to $60 per square foot

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Quartz

Contrary to how it may sound, quartz countertops are not a natural stone. Rather, they’re man-made from quartz particles that are held together with resin. Quartz is one of the hardest minerals on earth, so the resulting material is also extremely durable.

Because quartz countertops are engineered, they can come in many different designs, from bright solid colors to patterns that mimic natural stone. They also come in an array of textures, from glassy smooth to matte to stone finishes.

Quartz countertops are not porous due to the resin that binds them together, so they are also stain-resistant and never need to be sealed.

Estimated cost of quartz countertops: $50 to $200 per square foot

Laminate

Laminate is one of the cheaper countertop materials, making it a common kitchen choice, especially for homeowners on a budget. Laminate is made from layers of plastic that are glued to a base such as a particleboard. These countertops come in a variety of colors, patterns, and surface textures.

Laminate is much lighter than stone countertops, and it tends to be easier to cut, shape and install. This makes it a popular material for DIYers who plan on installing countertops on their own.

However, it’s worth noting that laminate countertops do not stand up to heat as well as stone, and they tend to scratch more easily. And since they’re not as durable as other materials like granite or marble, they’ll likely need to be replaced more frequently.

Estimated cost of laminate countertops: $35 to $80 per square foot

Solid Surface

Solid surface countertops are made in a similar manner to quartz counters. However, these countertops use acrylic particles bound with resin instead of stone. As another engineered product, they come in a variety of colors and patterns, including those that mimic stone.

Solid surface is non-porous, so it tends to be stain-resistant, and scratches can usually be sanded and polished off the surface. As an acrylic, it doesn’t hold up well to heat. It can withstand boiling water, but it might begin to warp at temperatures as low as 250°F.

Estimated cost of solid surface counters: $50 to $100 per square foot

Wood

The price of wood countertops can vary widely by the type and thickness of wood. Exotic woods can cost a pretty penny, but counters made from cheaper types such as birch tend to cost only a bit more than budget options like laminate. Wood countertops are often made of butcher block, which comprises pieces of wood with their edge grain-up, glued together to form a hard, continuous surface.

As a material, wood is relatively soft, so it may get banged up a bit. However, scratches can be sanded out and the surface restored. Wood or varnish may also burn when hot pans are placed atop it. Skilled DIY home renovators can install wood counters themselves, which can help control costs.

Estimated cost of wood countertops: $50 to $150 per square foot

Tile

Tile countertop is another material whose cost can vary dramatically. On the cheaper end, ceramic tiles can cost as little as a couple dollars per square foot, while a marble tile might cost more up to $25 per square foot. Depending on the tile you choose, where it’s from, and how it’s made, the price per square foot can rise considerably.

Tile materials, which can range from ceramic to glass to stone, tend to be durable and both heat- and scratch-resistant. That said, tile countertops could chip if something heavy is dropped on them.

Tiles can be easy to install yourself; however, if you don’t have a lot of experience setting tiles, mixing grout and finishing the seams, you could end up with an uneven surface.

Estimated cost of tile countertops: $1 to $50 per square foot

Marble

Marble has a long history as an important art material and is commonly used as a design statement in upscale or trendy restaurants and bars. With a price similar to granite, marble is an elegant choice for home countertops.

The material is heat-resistant, meaning you can put hot pots and pans right on it. And if you’re a baker, you may be drawn to marble for its use as a surface to make pastries on, as it is prone to staying cool in the summer months.

Marble is relatively durable, though it’s softer and more porous than granite. This makes marble countertops more susceptible to scratches and stains, particularly from acidic foods like lemons, which can interact with the stone’s chemical makeup. You can seal the stone to help prevent some of these issues, but you’ll need to repeat the process regularly. Also, marble is heavy, so it may be difficult for a homeowner to install on their own.

Estimated cost of marble countertops: $40 to $100 per square foot

Stainless Steel

Long used as a countertop of choice in commercial kitchens, stainless steel is popular for counters in residential homes, too.

Metal countertops made have a lot of advantages. They are easy to clean, and they don’t burn, rust, or stain. They are usually recyclable should you ever change your mind and remodel your kitchen again.

There are some disadvantages to the materials, though. Metal countertops can be loud (think pots and pans clattering against metal). And though durable, the material does have a tendency to scratch or dent. The thicker the stainless steel, the less likely it is to be damaged. The gauge (or thickness) will also affect the material price.

Estimated cost of stainless steel countertops: $80 to $215 per square foot

Cost of Countertop Installation

The cost of new countertop materials isn’t the only expense associated with upgrading your kitchen counters. There’s also the cost to install the countertops, which will typically vary by material and square footage.

For example, having stainless steel professionally installed can add about $10 per square foot to the price of the countertops, whereas professional installation of quartz countertops can add $60 per square foot.

Installing countertops yourself is a great way to reduce costs, but it can be challenging depending on the material. You’ll also need to consider what types of modifications to the materials are needed. Cutting a hole in a granite countertop for a sink, for example, can add to the overall cost and in many cases requires the use of specialized tools with diamond-tipped bits.

One way to control the costs of kitchen countertops is to mix materials. If you have your heart set on a granite countertop, for instance, consider using granite for a small portion of the kitchen — such as a prominent feature like the island — and a cheaper material like tile for the larger counter spaces.

Recommended: How Much Does It Cost to Remodel or Renovate a House?

Financing Your Kitchen Countertops

As soon as you decide what kind of countertop material to use — and you consider the average cost of a kitchen remodel — then you’ll likely want to think about how to pay for the work.

If you need to finance the project, it can make sense to explore an unsecured home improvement loan to help you get the work done. Because this is a kind of personal loan, you don’t need to have home equity nor do you need to use your home as collateral.

That said, there are pros and cons to personal loans. Be sure you understand all your options so you can find what best suits your financial and personal needs.

The Takeaway

To estimate the overall cost of countertops, you’ll want to consider a few different factors: the materials you plan to use, whether they’ll require professional installation or you can install them yourselves, and the area in which you live.

Choosing materials like laminate countertops or wood can be a smart way to save money for those remodeling a kitchen on a tight budget, while granite, marble, or quartz countertops may be preferable for those wanting a more high-end look. For homeowners looking for something unique, tile countertops might be a route to take in order to further customize your kitchen remodel.

If you’re ready to install new kitchen countertops, see what a SoFi personal loan can offer. With a SoFi Home Improvement Loan, you can borrow between $5,000 to $100,000 as an unsecured personal loan, meaning you don’t use your home as collateral and no appraisal is required. Our rates are competitive, and the whole process is easy and speedy.

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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