Should you Finance a Home Renovation?

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Your home is your castle. It’s where you sleep, keep all of your things, and come home to after a hard day’s work. We know that we all love our home, but sometimes there could be a few things we could do to make it look better. Lots of our customers refinance to give themselves enough funds to make those much needed repairs or extra additions that add value to the home. If you are wondering if you should finance a home renovation, then ask yourself if you would like any of these common projects.

An additional room

Adding on another room to your home is a great idea for a few reasons. First, it definitely adds value. Just check out rental prices and see the difference between a two bedroom and a three bedroom rental. It could be the extra space you need for your growing family, or an extra bathroom for privacy. You could even put in a laundry room or den. With extra cash from financing, your addition won’t put a big dent in your pocket.

Redoing the outside

Even if your home is comfy and cozy on the inside, its outer appearance can bring down its appeal. If you have an old home, or perhaps one decorated in a style you don’t like, refinancing or getting a loan to make major external repairs is a great idea. You could redo the siding, or replace the roof. You could install new doors, replace old windows, and repaint. The sky is the limit for you on this one.

All new plumbing

Everyone knows how incredibly important plumbing is to the health and value of your home. Without it you are doomed. A lot of people don’t think about it until the pipes burst, though. Getting all new plumbing is a great way to ensure the health and safety of your home, while also adding a lot of great value to it should you want to sell it later down the road.

If you are wondering if you should get a loan or even refinance your next home renovation, contact Sky Financial – The Mortgage Centre for expert guidance.



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About Sky Financial

We incorporated The Mortgage Centre-Sky Financial Corp. in August 1992 in Edmonton Alberta. Furthermore we opened offices in Fort McMurray, Cold Lake, Grande Prairie, Red Deer, Stettler, Saskatoon, Moose Jaw and Prince George BC.

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