Financeit Home Renovation Financing
A new kitchen remodel, can increase home values by 12.5% However, for many Canadians, home renovation costs are prohibitive. Thankfully, we’re changing this.
Home Renovation Made Easy
Current mortgage rates in Canada are leveraged toward baby boomers.
- Young people put down bigger down payments
- Current mortgage rates lock new home buyers into longer repayment schedules
- High debt and lower incomes, make extra home loans harder to qualify for
Young Canadians pay more for housing than their parents. As a result, young people undertake fewer home renovation projects. We change this. Namely by making home loans more accessible.
Funding for Any Home Renovation Project
By partnering with Financeit, we make planning home renovation projects easy.
Finaceit launched in 2011. Since then, the financing app has become the jewel in the crown of Toronto-based financial services. More importantly, by partnering with Financeit, we can offer home loans at better rates than any Canadian bank.
- We secure financing for home renovation projects in seconds
- Payment plans are customizable around longer and shorter repayment schedules
- Pay a home loan in full at any time, without incurring penalties
Home Renovation Projects Which Add Value
Home renovation projects add value to Canadian homes. We, therefore, provide young people with an easy way to flip properties. Alternatively, projects like a kitchen remodel can be undertaken solely to add extra livability to homes.
Interior Vs. Exterior Renovations
Interior renovations add the most value to Canadian properties. Favorite ideas include kitchen remodeling, finished basement renovations and the addition of extra bathrooms. When undertaken professionally, such improvements can add 2.5% – 12.5% to property market prices.
Exterior renovations also add value to properties. However, decks and swimming pools will often add just 2.5% to overall valuations. At the same time, improvements like pools can deter home buyers. Namely, due to a perception of high ongoing maintenance costs.
What are the Average Costs of Renovating a Home?
Home loan amounts for new renovations, typically average $15,000. However, loan amounts vary in accordance with property sizes.
When completed to a high standard, renovation projects will typically cost 2.5% of existing property prices. When renovations are intended to add value, homeowners should, therefore, focus on remodeling property interiors.
How Do Financeit Renovation Loans Work?
We partner with Financeit to make renovation home loans easier than ever to qualify for. To get started, tell us what kind of remodeling plans you have in mind. We will identify the cost of projects, before helping you secure financing accordingly.