How To Fund Your Next Home Renovation Project

If you're planning to live in your home permanently or do not mind spending money, there are a few creative ways you can fund your renovation project.


You know what they say, your first house is never your dream home. Don’t stress yourself into getting that perfect home. It will never be perfect until you’ve lived in it for a couple of years and discovered what you want. You also shouldn’t invest so much into renovating the place if you are planning to sell it or if you plan to move in the future because, according to a home valuer, “these fittings will not add value to your home. It will only add to your expenses, as most home renovations are a matter of personal preference”.

Think Before You Hack

Renovation does not add market value unless it is a tangible addition such as the enlargement of the compound or living space. Plus, it needs to comply with the code of building, or it will be devalued, and you might be charged the cost for restoring it to its original state. If you are planning to live in your home permanently or do not mind spending this kind of money, there are a few creative ways you can fund your renovation project.


It might sound like an unconventional method, but we don’t mean ask the internet or strangers for funds. If you’re getting married, you might want to put it in the invitation that you would prefer monetary gifts instead of presents. You can also ask your parents or siblings for a loan (or a gift, if they have the means and are so generous).

Taking Out a Loan

If you aren’t getting married and your family funds have run dry, you might want to consider home loans. You will be able to repay the funds slowly and well within your means, taking the financial burden off your shoulders, furthermore, there are loan calculators that can help you decide which bank can give you the best offer.

Sweat Equity

According to The Spruce, getting your friends and family in on the renovations is a great way to bond over beer and pizza. Plus, you’ll be building your house on good times, which will make for good memories.

Advice to Those Buying

To future homeowners: remember that more expensive is not necessarily better. A house with all the bells and whistles that suited a different family might not suit yours, but you will be paying for it when you make the purchase. By getting a basic house without all the extras, you’re setting up for the future and your cost of renovation will be significantly less than if you bought the pretty house in the first place. Hacking down the place will already hack away at a large portion of your budget.

Lastly, it’s good practice not to see your first home as your forever home. Instead everyone should have three homes: a starter home, a middle home, and a forever home. According to experts, a starter home can be a cheap one bedroom where you and your partner can live comfortably until you have earned enough to have that middle home that is sufficient for a growing family, before you settle into your forever home for you to retire in.



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