One thing we like to make sure of here at Canada home improvements is that you are going into the home improvement process fully prepared. A lot of people think that they can put off home improvements until they get the money together to pay for them, but often this is not the case. There are many major home improvements, such as putting in a new heater, that can't wait. You could get money for jewelry, but there are other ways of getting the money for a home improvement.
One of the most popular options is going to a bank to get the loan you need for a home improvement. Make no mistake about it, banks love to give loans. You would too if you knew you were going to make 25% or more of that loan back! There are several ways that bank loans for home improvements are structured. If you are looking to fix up, count on the loan having a higher interest rate. If you're going to make money off of the property, you bet your lender wants to make a bit extra too.
Loan rates will be lower for home owners, and they have an added bonus too; they can use the equity of their home to secure the loan. That means if your home before or after improvement is valued at a higher rate than your current mortgage, you can stand to borrow quite a bit of money. Not enough to pay an architect in Canada to build a whole new entrance structure, but enough to cover any major improvements that need to get done.
There are other options to banks if you need to get some money for a home improvement. Many people go to credit unions or companies which are specifically set up to loan money. Beware, though, those companies will charge you a higher interest rate guaranteed, though, and you will be paying off the loans much longer. Take a look around the Internet first to see who charges what; search engine optimization will have the cheapest institutions ranked first in an appropriate search.
Finally, remember that at least for 2009 and part of 2010, home improvements don't mean just spending a bunch of money. They can actually help you get some money back on your tax return, provided you live in Canada. In an effort to keep the economy moving, the government has offered rebates to homeowners who do up to $10,000 worth of work on their homes. Only $1500 of that can be returned, but it beats paying the full costs, and you don't have to use a lawyer to find any loopholes, either.