Home Renovations

Welcome to your go-to resource for all things home renovation. Here, you’ll find expert advice, project inspiration, and practical guides to help you navigate every step of your renovation journey.

Home Renovations Articles

How to purchase a fixer upper and finance renovations

Discover the reasons why you shouldn’t rely on an FHA 203k, Fannie Mae HomeStyle or a construction loan to buy and renovate a fixer upper and learn about the alternatives.
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4 reasons why you've never heard of renovation loans

Paperwork and lack of information are some of the biggest reasons why most people have never used, let alone ever heard of renovation loans to finance home remodels - until RenoFi.
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Financing solar panels

Solar can be a great way to reduce your utility bills, but most homeowners will need to finance the panels and installation. Learn how a RenoFi loan can help!
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The 2 rooms most likely to go over budget during a renovation

Are you planning a renovation project but are worried about going over budget? We asked expert builders and contractors to share their experience on the rooms most likely to face spiraling costs and WHY, so you can make sure it won’t happen to you.
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Which home improvements and renovations really pay off?

No matter what the motivation for your home renovation may be, you’ll want to know that your money is well spent. RenoFi shares the improvements that provide the best return on investment (ROI) to increase your home's value.
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Assessing Your Renovation Needs

Before planning any home renovation project, you must assess your renovation needs. This way, you don’t jump headfirst into a project you may not have the finances for or one your state does not permit.

Acquaint Yourself With Local Renovation Regulations

Before you start any major renovation project in your home, you must familiarize yourself with the building codes and regulations in your county regarding construction and renovations.

Identify Your Renovation Objectives

It is important to know early on in the project planning phase why you need to carry out a renovation. Is it simply to increase the value of your home for resale, improve its overall functionality, or update the aesthetics to accommodate your personal styling preferences?

Understand the Scope and Scale of Your Project

Identifying the scale of your project can help you set the right expectations in terms of time, cost, and levels of inconvenience you can expect during the renovation process.

Consult With Professionals

It is highly recommended that you consult a professional renovation agency, which can provide valuable insights into what’s feasible within your budget and timeframe.

Creating a Realistic Budget

Pick Your Projects

When creating your budget, ensure that you pick projects that can allow a high enough cost recovery on the total value of your home.

Research the Costs

Save money during your renovation by carefully researching the cost of everything involved, including materials and labor.

Compare Renovation Bids From Different Contractors

Seek at least three trusted home renovation contractors in your area or state and request project bids from all of them.

Set Aside Emergency Funds

It is recommended that you set aside around 10-20% of your total budget as your emergency/contingency fund.

How Much Does It Cost to Perform Home Renovations?

The cost of renovation typically depends on several factors. Here are a few national averages:

• The average cost of renovating a modern kitchen is about $26,960.
• The cost of renovating a bathroom is around $12,094.
• Renovating a basement costs around $22,758.

Financing Your Renovation

Many homeowners find themselves in tough spots when it comes to financing renovation projects. For many, renovation loans may be the best option to align their short-term and long-term financial goals.

Making the Most Out of Your Home Renovation Budget

Through careful planning and budgeting, choosing the right financing method, and making smart design and material choices, you can save significantly on your renovation project and avoid common pitfalls.