Funding a Home Renovation Is Easier Than You Think

So you want a renovation? Good choice! Everyone should be entitled to a stress-free home, but sometimes that involves putting in some work yourself and getting a renovation done. Whether it’s a large renovation or just something small like changing the decor in your home, it can be a great way to change up your home and introduce some new life into a stale property.

Sadly, funding a renovation can get pretty costly. If you’re going to DIY it, then you need to remember that you’ll be paying for materials and the tools that you need. Alternatively, if you hire a contractor then you’ll probably end up paying more, though it is nice that you don’t need to put in your own effort.

The point is; funding a renovation is expensive, but we’ve put together a couple of tips that will help you secure the funds needed to pay for it.

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Financing Options
Some contractors offer low-percent financing offers if you’re getting a large renovation such as a basement overhaul or replacing all of the floorings in your home. It’s a good idea to speak with the contractor to see what services they offer and how you can finance it if applicable. Alternatively, you could apply at websites like for a personal loan to cover the costs of your renovation. In other words, there are many “formal” ways to fund a home renovation and they will make up most of the money you need to pay for the job.

Bring Out Your Savings
Self-funding your home renovation is another simple and common method. Savings should usually be left for emergencies, but if your renovation can classify as an emergency then there’s nothing wrong with breaking out the piggy bank. Take a look at this section from to learn a few situations in which a home renovation could be considered an emergency. Things like broken plumbing pipes or damaged showers can classify as an emergency, which makes it totally fine to use your own personal savings. Just remember that a renovation could be more expensive than you think, so always ask for a quote before you agree to work being done! This will save you a lot of headache in the future and prevent you from digging too deep into your savings.

Credit Cards
As a last resort, you could just use your credit card to pay for it. You might find some interest-free or low-interest deals that can help you pay for the brunt of it, or you could fund the entire thing using a credit card. Of course, it can’t be stressed enough that if you do use a credit card, you’ll be paying for the entire thing in the future. If you don’t have enough financial security to pay for a home renovation, then don’t use your credit card. This will prevent you from potentially plunging into debt and leaving a stain on your credit rating.

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