Homeowners in Canada can fund renovations by refinancing or accessing home equity through a secured credit line.
Renovation costs vary greatly; setting a realistic budget and getting quotes is essential before borrowing.
Some mortgage options allow adding renovation costs to the mortgage at the time of home purchase.
Personal loans and credit cards are options but usually have higher interest rates than mortgage-based solutions.
Certain upgrades may qualify for rebates or cost-saving incentives from government programs or local authorities.
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