We often want to move because we want a bigger home. However, several factors, such as hesitating to leave a neighbourhood your family is fond of or the high cost of a larger home, might lead us to ask ourselves, “Why not just expand our current home instead?”

Would adding a garage with an extra room above and some additional storage space do the trick?

Here are the questions you need to ask yourself when considering such a project:

1. How much would this project cost if undertaken by a certified APCHQ or ACQ  professional?
2. Do the municipal regulations allow this type of home expansion?
3. Will the value of your home increase in proportion to the cost of the project?
4. Does your budget permit you to take on such a project?
5. How will you finance the construction?

Did you know that it is possible to finance your renovations using your mortgage?

The interest rates are between 6% and 11% on a personal loan, and the amortization rarely extends past 7 years.  Often, mortgage refinancing to cover your renovation expenses is the most logical and economical way to proceed.

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