RENOVATIONS

Increasingly homeowners in New Tecumseth, Toronto and the GTA want to increase the comfort and enjoyment of their homes. If your dream home is one renovation away, here is a smart tip – if you have enough equity in your home (20% or more), consider rolling the cost of your renovation into your mortgage to access low-cost financing, have one easy monthly payment, and then use your prepayment features to pay if off faster.

If you’ve owned your home for a few years, chances are you’ve been building up some nice equity. And with mortgage rates hovering around historic lows, this is a great time to look at rolling the cost of your renovation into your mortgage. In fact, you might find enough interest savings in your new mortgage to help knock down the overall cost. Remember that renovations are an excellent way to increase the market value of your home.