REMODELING YOUR HOME THIS SUMMER

Summer isn’t just for relaxing — it’s also one of the best times to tackle home renovations. Whether it’s a simple refresh or a major remodel, smart improvements can increase comfort, boost property value, and offer strong returns when it’s time to sell.

Here’s how homeowners can plan and finance renovations effectively 👇

1️⃣ Cash or credit for smaller projects

Smaller upgrades under $5,000 can often be handled with savings or a credit card.

✔️ paint and cosmetic updates

✔️ decluttering and staging

✔️ light repairs or touch-ups

These improvements often produce strong resale value with minimal investment.

2️⃣ Personal loans or lines of credit for mid-sized projects

For projects above $5,000, financing becomes more important.

✔️ personal loans offer predictable payments

✔️ unsecured lines of credit offer flexibility

✔️ interest is typically lower than credit cards

A line of credit works well for ongoing or multi-stage renovations where funds are accessed gradually.

3️⃣ Secured lines of credit and home-equity loans

Larger renovations may require access to home equity.

✔️ lower interest rates

✔️ higher borrowing limits

✔️ interest only on what you use

These products often require strong credit, up-to-date income, and legal registration fees.

Homeowners with sufficient equity can leverage financing at a lower cost than unsecured borrowing.

4️⃣ Refinancing your mortgage to fund major renovations

Refinancing can be ideal for large-scale renovation plans.

✔️ access renovation funds at mortgage rates

✔️ consolidate higher-interest debt

✔️ spread repayment over a longer period

Lower interest costs can make major improvements more affordable and easier to manage long-term.

5️⃣ Adding renovation costs into a new home purchase

When buying a property that needs updates, the renovation budget can be added to the mortgage.

✔️ purchase price + improvement budget

✔️ one mortgage payment

✔️ lower rate than loans or credit cards

This approach allows buyers to transform a fixer-upper without taking on additional high-interest debt.

6️⃣ Grants and rebates for energy-efficient upgrades

Federal, provincial, and municipal programs can help reduce project costs.

✔️ insulation upgrades

✔️ energy-efficient windows

✔️ heating and cooling improvements

✔️ renewable-energy installations

Programs vary by region, and some offer rebates, refunds, or reduced insurance premiums for qualifying improvements.

💬 Final Thought

Renovations can improve comfort, boost value, and modernize your home — but choosing the right financing method is just as important as choosing the right project. A clear plan, proper budgeting, and the right funding option will keep your renovation on track.

For a full review of renovation financing options and current lender programs, send The Frontline Mortgage Group a message anytime.