Whether your home is new or old, eventually it will need to be remodeled. Many people put off the task of renovating their house because of how much it costs upfront and the steps it takes to get there. While remodeling your home can be quite expensive, it also has essential benefits. Not only will your home function better and appear more aesthetically pleasing, but it will also raise the value of the home when it needs to be sold. If you are considering remodeling your home, below are some creative ways to afford it.

1. Refinance Your Mortgage

A quick way to make your remodeling projects affordable is to try and refinance your mortgage. Depending on the interest rate that your mortgage started at, you may qualify for a lower rate. Many different types of mortgages can be refinanced. For example, if you are a veteran, VA Loans can be refinanced as well, as the program was designed to be as flexible as possible. If you refinance, you can save up the difference between the monthly payments until you have enough to remodel.

2. Renting Out a Bedroom

A trend that is becoming quite popular is to turn unused living space such as a bedroom, or multiple bedrooms, into rentals. You can place them up for rent for the whole year, or only make them open for rent at specific times of the year (such as through an app like Airbnb). Many people are beginning to do this as a way to earn extra cash.

3. Start Selling Assorted Items

As the years go by, many people accumulate different items that they no longer use. Whether it is a bike, an ATV, an old collection of stamps, or just random items in your attic, there are likely many things that you don’t use anymore that you could sell. You will be surprised how fast the money begins to add up.

4. Side Jobs

Another great way to afford a remodel is to start doing additional projects or work. There are many easy ways to make money outside of your actual job. For example, an easy way to make money online is through taking surveys or doing freelance projects. Another option will be to get another part-time job if you don’t feel that you could make enough from doing small projects.

5. Home-Equity Line

For those who already have low-interest rates on their mortgage, getting a home equity-line (or a home-equity loan) may work well. You can borrow using the equity of your home, and a home equity line generally has a low-interest rate making it quite affordable.


Remodeling and updating your home has many benefits, and eventually will need to be done. There are many different ways to afford a remodel. Consider trying one of the above methods and begin your remodel sooner than later!