Home Renovation Financing Options

This is a Singh news story, published by CityNews, that relates primarily to Sammy Hudes news.

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House renovations

CityNews

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Business

Business & Economics

Planning a home renovation? What you need to know about financing options

Summary

Nutrition label

74% Informative

Experts say Canadians are increasingly turning to financing options to fund their home renovation projects.

The risks of taking out a loan for such projects include taking on debt, which homeowners need to be sure they can afford to repay based on their income level and career stage.

Homeowners starting a reno project should be prepared for both expected and “not-so-fun surprise” costs.

For Singh , that potential payoff is the key factor he discusses with clients when considering financing options for a project. “Is the renovation they are doing going to add value to their property?” he said. “Because if it’s not adding value to the property, and they’re not going to get that money back when they’re looking to sell their house, it might not be worth it.” This report by The Canadian Press was first published Feb. 27, 2025 . Sammy Hudes , The Canadian Press .

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful