The 2026 Reality
Renovation prices have soared - here's how to finance smartly
Comprehensive 3-bedroom renovation: Now costs $95K-$140K (was $70K in 2021).
The solution: Understanding 3 financing options and choosing the one that saves thousands monthly.
Comparing All Options
Bank Loan
$55K, 5 years, 9%
Monthly:
$1,140
Planned Mortgage
$40K max, 25 years, 4.5%
Monthly:
$266
Home Equity
$55K+, 20 years, 4%
Monthly:
$333
Save $807/month with home equity vs bank loan!
Which Option to Choose?
Small renovation (under $27K): Bank loan - simple and fast.
Have existing mortgage, need $40K: Planned renovation mortgage.
Large renovation ($55K+): Home equity loan - cheapest option.
The right choice can save you $27,000+.
Frequently Asked Questions
Everything about renovation financing
It depends on renovation type: Cosmetic renovation (painting, flooring, electrical) - $27K-$55K. Medium renovation (kitchen, bathrooms, windows) - $70K-$110K. Comprehensive renovation (including load-bearing walls, infrastructure) - $140K-$220K. Luxury renovation (architectural design, imported materials) - $275K+.
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Legal Disclaimer
The information and simulations presented on this website are for illustrative purposes only and do not constitute a binding offer for credit or financial advice. Credit Approval: Subject to final underwriting, clean credit data (positive credit score), clean banking history, and meeting the threshold requirements of the financing institutions. Interest Rates: The interest rates displayed are estimates only, based on average market data, and may change at any time according to the client's individual risk profile and economic conditions (Bank of Israel interest rate changes / CPI). No Commitment: RealFix does not guarantee loan approval or the terms displayed in the calculator. E&OE.
