House renovations are becoming more popular, but it is not a cheap thing to do.

Most of the time with house renovations, people plan to renovate the whole house and make it their home, but there is a lot of planning, work and money that goes into this.

As it isn’t always a simple thing to do and can change a lot to the property structure and how it works, it means that more work is done.

Some things need to be considered when renovating a house, such as the suppliers you’ll need, materials and general cost and labour of it all.

So, it is safe to say that a house renovation isn’t the cheapest thing and therefore, finance options are available to help out with the renovation project.

What To Consider With House Renovations?

House renovations can vary from being a full house renovation to just renovating a couple of rooms within the house.

But, they all come with their costs and labour, so this is something that needs to be thought about, to ensure it is affordable.


When planning your house renovation, most of the time, you will pay someone to draw up the plans for you, which is then used for the builder to follow.

This is something to be considered, as it’s an additional cost to the overall renovation project and something that must be done.

So, make sure you are prepared and do some research to get the best quote possible and ensure you aren’t overpaying anyone.


Many services are used with home renovations, from builders to plumbers, there’s a lot that is considered.

Some of the main services required will be a builder, plumber and electrician, which will be used in most cases of a house renovation.

Make sure to consider how much work needs doing, what services are required and how much all of this will cost.

Services such as electricians and plumbers may be something you forget to think about, so make sure you consider everything that is going to be changed and who might be needed for that.


House renovation is not just remodelling or adding to the house; it also involves furnishing it once complete.

Once the house renovation building is completed, it’s time to decorate and furnish it, so make sure you’ve planned for this.

The last thing you want is not to have enough money to buy furniture, to finish the renovation.

The good idea is to have a browse of the types of things you would want, to be able to get a rough price on how much it would cost.

You can add this onto the total house renovation project costs.


Now you have an idea of what needs to be considered before starting a house renovation; it’s time to think about the money.

When planning the house renovation, you get a rough idea of how much the whole project will cost in total.

From this, it times to plan how you will pay for the house renovation and ensure you have enough money to do so.

Finance Options For House Renovations

So, we’ve taken a look at some of the things to be considered before starting a house renovation, so you can ensure you know how much it will cost and plan how you will pay for it.

With all of this added together, it can become a costly project to start and finish, and the last thing you want is not to be able to complete the whole project.

Below are some of the finance options available for house renovations:


Home improvements and house renovations can add value to the property, making it worth more money.

Cash in savings accounts can be used for the house renovations, instead of using it on a new car etc.

This is the best way to fund the renovation project, as you’re not tied down with loans and lenders but make sure not to spend all your savings on it, as it may be needed for something else in the future.

Credit Card

If only a small amount of money is needed for the renovation, then a credit card can be used. Look at for those that have a 0% interest rate, as this means you will not be paying any extra on top of the money you owe on the credit card.

Make sure to pay the money on time, to reduce the risk of any additional fees being charged.

This is an excellent option for those needing a small amount of money, that can pay it back when required to.

Unsecured Loan

An unsecured loan works where the lender is not able to touch any of your assets and a lot of the time; unsecured loans are used for home improvements and renovations.

With using an unsecured loan, it means that you pay higher interest rates and have to have an excellent credit history score.

The great thing with unsecured loans is that money is available quickly, most people can get one, and they can be paid back quickly.

Secured Loan

On the other hand, we have secured loans that unlike unsecured loans, you do put your assets at risk for.

It comes with low-interest rates, longer repayment terms and can count towards improving your credit score if paid off on time.

They’re a great way to secure some money for the renovation, with low-interest rates, meaning there won’t be too much extra to pay on top of the loan.

Re-mortgaging for Home Improvements

If you need a large amount of money, then re-mortgaging may be the best option.

By having equity already on the property, re-mortgaging can then give you lots of cash, to then invest in the renovation project.

It’s a great option to get cash, secure a reasonable interest rate but the downside is that if you miss payments or are late paying, your home can be repossessed.

Bridging Loans

A bridging loan is a short-term loan, typically between a few weeks and 12 months. The loan carries a higher interest rate compared to some options.

Bridging loans for home renovation are fast and simple to obtain so long as you are comfortable with putting up security against the loan.

So, these are some of the ways you can finance your renovation project.

Make sure to consider everything involved in the project and how much it will cost and then work out from there, what the best finance option is.

Adiel Khan has over 20 years in the property finance market has and advised and financed property developers, investors, landlords, and builders throughout the UK.

Adiel is also an experienced business advisor, supporting over 5,000 businesses in London to help businesses expand. He runs a business start-up blog

Adiel is co-owner of Property Finance Partners which offers structured finance for property developers and investors in the UK.

For more information, you can contact him at

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