What makes home feel like home is the familiarity of being in your own space. As much as you love it, though, chances are that there are things about your home you would change, fix, and update if you could. The only thing holding you back is the money.

Luckily, there are a number of ways that you can finance home remodel projects that won’t break the bank or send you spiraling into debt, and many of them are easily accessible. If you have your eye set on a renovation project, now is the time to start thinking about financing. IF you’re not sure where to even begin, these are just a few of the measures you can take to secure financing for your home remodel.

  • Use credit cards.
    • If you have strong credit and will be able to repay the loan relatively quickly, using credit cards to pay for the remodel really isn’t unreasonable. However, there are a few things you’ll want to keep in mind. It’s possible to get a card that has an introductory period where you’ll be charged 0% interest for a set amount of time at the beginning of your membership. There are also a number of credit companies who will offer you cash back on purchases which can help you save further on your project.
  • Apply for a construction loan.
    • If you don’t own a lot of equity in your home and are considering a major remodel, the cost of which will exceed your equity, try applying for a construction loan. Often, 80%-85% of the remodel costs can be covered by a loan from a lender which should take a huge chunk out of the initial, upfront costs.
  • Save the money and pay in cash.
    • If you have the time and the means by which to do so, paying cash is always your best option when it comes to making any purchase. You can avoid paying interest and be better able to stay within the parameters of your budget as well. Plus, if you pay in cash, as soon as the remodel is complete it’s already paid for.
  • Apply for a personal loan.
    • If you have a good relationship with your bank, you can also try applying for a personal loan to finance your project. While you will still have to pay interest on the loan, the percentage is typically less than you would pay when using a credit card.