How to Fund Your Home Remodelling Investment

Remodelling your Toronto home is an excellent investment. When you refresh and update things such as your floors, your kitchen, and your bathrooms, it gives you and your family a better quality of life. Maybe you get rid of that carpet that your wife has always hated and replace it with gorgeous hardwood. Perhaps you finally get that outdoor kitchen you’ve been dreaming of—complete with a mini-refrigerator and a gas grill! Maybe as part of your remodelling design you included more storage in your formerly-cramped bathroom and now your countertop is no longer littered with brushes, razors, and toothpaste tubes. Remodelling can bring everyone a sigh of relief, as well as putting smiles on their faces.

In addition to being an investment in your happiness, remodelling your home can also be a good financial investment. Updated houses simply sell faster. When people step into a house, the first thing they do when they go through the rooms is take a mental note of what updates need to be done. If that list gets too long, many potential buyers will simply move on because they don’t want the hassle. Those who do put an offer on your house will demand a significant discount to the price in order to pay for the necessary renovations. By doing all of this beforehand, you’ll sell your house faster and at a much higher price.

The investment of remodelling a house can be a big hit to your wallet, however, and it can take some planning to figure out how to make it happen. Here are a few ideas on how to make your remodelling dreams come true.

A Home Equity Loan

One excellent way to secure funding for your home renovation is through a home equity loan. If you have any equity in your home, you can get a loan that you can use towards things like home repairs and renovation projects.

Credit Cards

If your remodel will be a smaller project, credit cards may be the way to go. You can use the credit cards you’ve secured through major banks. Another option is to use credit cards issued by the stores from which you’ll be buying much of your remodelling materials and equipment. Oftentimes a store will offer a percentage off of your first purchase or some sort of rewards for opening up a credit card account.

Store Loans

Home improvement stores can help with your remodelling project in many ways, from materials, advice, credit cards, and even loans to help fund the entire project. Ask to see if your local store provides home construction loans to assist customers with taking on large projects. Some stores will even offer you an interest-free loan to assist you with construction costs; details will vary from store to store. Ask to find out if your local home improvement store has any programs available that would be helpful to you in your renovation project.

As you can see, there are a variety of ways you can fund remodelling your house. Although such a project may initially seem like a huge cost, you’ll reap the rewards immediately in a greatly-improved quality of life for your family. Home is where the heart is, so shouldn’t you thoroughly enjoy yours? For those who are thinking practically and planning down the road for an eventual resell, there is no better way to sell your home quickly and at the highest possible price than to remodel it and make it stand out among the competition in the Toronto-area real estate market.

To get started on your home remodelling project, contact the professionals at Kitchen and Bath today.

How to Fund Your Home Remodelling Investment

A Home Equity Loan

Credit Cards

Store Loans

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