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Before Planning Your Home Renovation You Should Consult a General Contractor and the Bank

January 18, 2013

Before Planning Your Home Renovation You Should Consult a General Contractor and the Bank
Your home is often your single largest investment. Planning and budgeting for regular maintenance and other improvements makes a lot of sense whether it is maintaining the value of your home while you live in it or prepare to sell it. Although performing many small and routine maintenance tasks can be done yourself, there are many instances where consulting a general contractor and obtaining a quote can save you time and money.
 
  • major renovation or redesign
  • redoing stairs
  • refitting gutters
  • roofing
  • fitting doors
  • gates

With a quote in hand, now you can head to the bank or consult a mortgage broker for ways you can finance the project—by taking a loan against the equity in your home, obtaining a line of credit or a personal loan.
 
Finance your Reno with a Re-Mortgage Finance Option
If you have owned your home for some time and have some equity, you may qualify to re-mortgage your home. When shopping for a mortgage you can deal with an individual bank or work with a mortgage broker. Banks offer their own packages of financial products and services. Mortgage brokers tend to shop around, scouting out rates of various financial institutions and getting you the best rate. Mortgage brokers can also service clients with almost any kind of credit history.
 
Finance Your Reno With Other Options
If a mortgage doesn’t seem right for you then perhaps you can secure a personal loan or a line of credit. Contact your financial institution to see what they can do to help you finance the renovation.

No matter which route you choose, the time you take to obtain a quote from a reputable
Montreal general contractor, create a budget and work with a broker or bank representative to create a financial plan will go a long way in helping you to ensure the job is done right the first time, on time with peace of mind.
 
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