Want to remodel a part of your house, but can’t afford it just yet? Here’s how the pro’s are financing those renovations!

There are a ton of creative ways out there for home owners and entrepreneurs alike to finance those sought after remodels. Here are just a few of the popular ways they are doing it. Each have their own time and place. The tricky part is knowing which is best for your situation. We at FINN hope this helps you get a head start!



While probably the best option if you have it, let’s be honest, It’s not a luxury we all have. Especially on those bigger renovations, it’s not always a good idea to tie up all of your money. It’s could be safer to put someone else’s money to work for you. However, if you’re able to swing it, the pros are extensive and the cons are almost nonexistent. Compared to the other options on this list, If you have a money tree growing in your back yard, go pluck that baby. For the rest of us, keep scrolling.


Bank Loan

Most Bank’s offer personal Loans that can be used to Finance that renovation. However, it may not always be easy to qualify for them and can be tine intensive to go through the process. When there is an opportunity right in front of you a regular bank looks at your financial situation like credit and debt ratio instead of the opportunity itself. Plus, banks like guarantee’s and the interest rates can get as steep as credit cards depending on your qualifications. On the plus side, they are fixed payment plans that don’t change. Pro tip: you can do a weekly payment as opposed to monthly or bi-monthly and can save a bundle.


Hard Money

These are like bank loans, except they are with private lenders. This can be good, because you can qualify quicker than large banks and their qualifications have more wiggle room than traditional banks. The downside is they have higher interest rates.  A lot of times banks follow protocols about the individual’s financial situation, while private lenders can be a good alternative if you can show you have a good opportunity. In my personal experience, private lenders are more open to broader lending practacies. However, a lot of times they Require to be put on the deed, so if you can’t pay they can take the house as collateral.


Credit Card

This is the option that probably scares the most people. However in some circumstances can definitely be a good option if you are willing to run the risk. Some companies offer 0% interest for a certain amount of time. However, as you have probably heard (if lucky enough not to experience) the interest can stack up very quickly. Credit cards always remind me of the famous quote from Spider Man “With great power, comes great responsibility”. So they are a powerful tool that can quickly help you out of a bind, However they have a big bite if misused.