I want to renovate my home. I don't have enough money to take care of all these expenses. So it would be better if I get a loan for this. I read something about home mortgage here www.albertamortgagecentre.com/step-by-step-how-to-get-a-mortgage/. But I don't know whether it is possible to get a loan for renovation purpose. How about consulting some mortgage agents for this? Please share your opinion about this.

As with a child, acquiring a house is the first step to a lifetime of responsibility. A house demands frequent maintenance, from painting it and replacing broken fixtures to remodelling a room and restoring the tiling. You can probably finance most of these needs yourself, but if a major overhaul becomes necessary, you may require more money than you have.

However, you don’t need to put your plans on hold till you amass the required funds. Simply walk into a bank and take a home improvement loan.

Edited February 10, 20179 yr by srscontracting

thank s for your Best opinion. all the best.

I think it is possible? 

I think it is not worth doing that unless you are renting it out. This might get you in debt

On 10/02/2017 at 6:38 PM, srscontracting said:

As with a child, acquiring a house is the first step to a lifetime of responsibility. A house demands frequent maintenance, from painting it and replacing broken fixtures to remodelling a room and restoring the tiling. You can probably finance most of these needs yourself, but if a major overhaul becomes necessary, you may require more money than you have.

However, you don’t need to put your plans on hold till you amass the required funds. Simply walk into a bank and take a home improvement loan.

THANKS FOR THE ADVISE

Are taking up loans from banks nowadays is slower ? I tend to feel it goes round and round through so many procedure only they could make it work. Anybody tried any other agency to get loans from the bank ?