3 Ways to Fund Your Home Repair Projects

Your kitchen is looking drab, or maybe you even need to have the grading around your house fixed because a water drainage issue is ruining your basement. What do you do if you don’t have the finances available? Coming up with the cash to fix up your house can be a burden, but there are options available to help you get your dream kitchen or remedy an issue that could create a structural problem. Here are three ways you can finance your home’s renovations.

Cash-Out Refinances

If your house is worth more than you owe on it, you’re in luck. If you’ve built up equity on your home, you can refinance your home to achieve your home improvement goals. With cash-out refinancing, you can use the equity of your home to make it even better. You’ll usually need at least 20% of the house in equity, and you’ll need to be able to show that you can afford the higher mortgage payments. This is a great option for home improvements because you’re boosting the value of your home when you add onto your house or improve its current condition. It’s especially good for people who have the wiggle room in their finances to afford the higher payments.

Zero-Percent and Low-Interest Credit Cards

If you have good credit, talk with your credit card company see if you can get a credit line to pay for your home improvements. Credit card companies will often let you borrow from them to pay for upgrades to your house. But make sure that you look at how much extra money you will be paying with the interest rate. Also, make sure that you’re willing to commit to the monthly payment for the amount of time that you will need to have the loan.


If you’re a person who doesn’t like to borrow large amounts of cash, or if you’re already strapped with your amount of debt or credit, you can always start saving money to pay for improvements. It can take longer than the other two options, but the benefit is that you own all of your improvements in full once they’re done. You don’t have to pay later, which can be a big burden off your shoulders. The one downside to this is if you need the money for a project that can’t wait.

Home improvement projects can add value to your home, so while it’s nice to have that new kitchen, it’s more than just a luxury. If you choose to sell your house later down the line, you’ll be happy that you kept your house in pristine condition.

Are you looking into updating your home’s wiring? Do you need electrical repairs or renovations? Then Cables and Volts Contracting can help! We have over a decade of experience with residential and commercial electrical projects, and we are committed to quality, integrity, honesty, and friendly service. Contact us today!