Property improvements may address repairs, accessibility, additional space or a change of use. Distinguish necessary work from optional enhancements before deciding how much finance is appropriate.

Allow for professional fees, permissions and disruption during construction. A property may produce less income or be unavailable for use while work is carried out.

Consider the project's benefit without assuming every cost will be recovered through a higher sale price. Repayment needs a workable plan even if the property market changes.

Key takeaways

  • Property improvements may address repairs, accessibility, additional space or a change of use.
  • Allow for professional fees, permissions and disruption during construction.
  • Consider the project's benefit without assuming every cost will be recovered through a higher sale price.