Getting more bang for your renovation buck

How can you balance what you want to do and the financial resources you have available when planning for a home renovation? Before you begin, here are some tips from The Canadian Home Builders’ Association to help you stretch your budget.

• Set priorities – what is really needed and what would be “nice to have done”?
• Look closely at what you already have – sometimes homeowners believe they need extra floor space when all they need is more effectively designed space.
• Do the work in stages to suit your budget – work out the proper sequence of projects in advance with your renovator, to spread financial obligations out.
• Consider capital versus operating costs – things like energy-efficient lighting, high efficiency heating systems and electronic thermostats mean long-term savings.
• Do some of the work yourself – but leave the structural and mechanical things to the professionals.

Renovation Loan? Hammer out a great low rate at The Credit Union! Talk to us today about your next project.