Before you take the plunge in your home reno, consider these five no-nos — and how to avoid them. ARTICLE CONTINUES BELOWShe recommends adding another 20 to 25 per cent to the total cost to account for the unexpected. “It’s important to remember that when you borrow money, you’re adding to the total renovation cost.” A secured line of credit or refinancing your mortgage are her second-choice options. She strongly advises against paying for a renovation with credit cards, which come with interest rates of 19 to 25 per cent. Total cost for $45,000 renovation: $71,533 4.

Source: thestar June 25, 2019 10:32 UTC