Let’s Finance Your Renovation
Of course, you’ll need an experienced pro to walk you through the application process and make sure you’re getting the best deal. Lucky you—that’s where I come in.
How to Make Your Renovation Mortgage Work for You
Estimating the Costs of Your Renovation
- Your basic renovation costs
- The costs of upgrading furniture and appliances
- Extra costs for unexpected issues that come up during the process
Not sure where to start? Don’t worry; I’ve done this before. When you contact me, I’ll let you know exactly what kind of information you need.
Choosing Your Renovation Mortgage
- The value (or potential value) of your property
- How you plan to renovate or remodel the property
- How to compare renovation mortgage options from different lenders
I’ll be able to walk you through the steps involved and find renovation mortgage options that work for your situation. Together, we’ll help you build your dream home!
Completing Your Application
- Collect all required supporting documents
- Submit the final application to your lender
- Troubleshoot in case any issues come up while your application is being processed
I’ll also be in communication with you the entire time so you remain aware of your application status. Whenever there’s an update, you’ll know ASAP.
How do I calculate my renovation budget?
- How old the property is
- How large the property is
- The complexity of your planned renovations
- Your renovation timeline
- The quality of the labour, materials, and fixtures used
- The costs for permits, appraisals, and fees in your area
To get an idea of the likely costs for specific projects, you can use HomeStars’ cost guides. But working with an experienced professional is the best way to figure out how much money you’re going to need.
Is my rate impacted by adding renovations to my budget?
Is there a limit to how long renovations can take?
Is there a limit to how much I can request?
If you already own a home and want to renovate it, refinancing your mortgage can allow you to borrow up to 80% of the appraised value of your home (after considering the amount still left to pay on it). Together, we’ll look at how much money you need for your renovations and find an option that supports your goals.