Whether you should borrow money or not should be a decision that you think hard about. It can be too easy these days, to just borrow money for all sorts of things without taking the time to decide whether it is the best thing for you to do. There are many factors that you should think about before you make the decision.
Firstly you need to consider whether the work is necessary or not. The work could be a repair to something causing structural problems or a leaky roof or a broken pipe. Things like this will cause more damage if they are not repaired and so it is important to get them fixed as quickly as possible. Delaying could mean that the fix will be a lot more expensive in the future. If you do not have enough money to pay for it then you will need to consider borrowing the money instead as there may not be enough time to save up. Although paying for the fix with a loan will be more expensive than waiting to save up, if you do wait the repair could be dearer and you could be taking big risks with regards to the damage done to your home.
If you are looking for some work to be done that is not so necessary then you will need to think a lot more carefully about whether to borrow the money. This is because you could delay having the work done as it is not causing damage to your home and therefore waiting will not cause any harm. It depends on what type of work you are thinking of having done. It is worth getting some quotes for the work and then thinking about whether you can afford to have it done or not. This will depend on how much it will cost and whether you have any savings put by which you can use to pay for it. It may be tempting to borrow money even if you have savings to pay for it because you will not lose those savings. This is a very expensive way to go about things though and you will be able to save up again in the future and you will have more money in the long run, rather than borrowing money and paying the costs of the loan.
If you do not have savings then you are in a situation where you need to choose between getting a loan and having the work done now or saving up for the job and waiting to have it done. You need to find out how much the loan repayments will be and calculate whether you can afford to pay this each month. If you cannot, then you will need to delay having the work done and save as much as you can instead until you have enough to pay for the whole job or to pay towards it so that you can borrow less and have lower repayments.
It can be difficult waiting for work to be done. You may have decided exactly what you want doing, perhaps extending to create extra space, refurbishing rooms to modernise and give you more storage or just decorating to make everything cleaner and brighter. It can be difficult looking at your home and thinking about how it could be improved if only you had the money. However, there is a huge element of satisfaction in knowing that you have saved up to have some work done and paid for it without having to borrow; knowing that you have worked hard to do that and that you have not paid more than needed due to loan costs. Depending on how much spare money you have each month, it could take a short time or a long time for you to save up.
It can be wise to think about ways that you can spend less money or earn more, so that you have more money available to save so that you can get the work done more quickly. There may be places that you can cut back and you can decide that you will not buy more than is necessary until you have saved up. It could be hard work, especially if you are working more hours in order to make even more money. However, it can mean that you will be a lot freer without a debt hanging over you and repayments to have to make each month. Rather than paying hat is demanded, you can save at your own pace and if you need extra money one month, you can save less. With a loan repayment, you will be expected to make it regardless of whether you have less money that month or not.
So whether you borrow money does depend very much on you, whether you can wait for the work to be done, whether you can save up and if you think that it is worth paying extra to have the work completed more quickly.