Wondering how to pay for your home renovation?
Rita Cousins, Senior Mortgage Advisor • January 14, 2020
Are you contemplating hardwood floors, a new kitchen or energy efficient solutions for your existing or new home? Are you wondering how to pay for this renovation project?
Take a look at these affordable financing solutions to renovate the home of your dreams!
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Mortgage Refinancing
Take advantage of record low interest rates and spread your renovation financing repayment over a long
period of time by refinancing your mortgage.
Benefits
• Borrow up to 80% of your home’s appraised value (less any outstanding mortgage balance).
• Pay less interest than credit card or personal loan rates
• Access funds immediately
• Suitable for large scale renovations
Financing improvements upon-purchase
Finance your renovation project at the time of a new purchase by adding the estimated costs to your
mortgage with CMHC Mortgage Loan Insurance. You can obtain financing with only 5% down payment
for both the purchase of your home and the renovations for up to 95% of the value after renovations!
Benefits
• Funds advanced for up to 95% of the value after renovations
• No additional fees or premiums for progress advances
• Competitive interest rates
• CMHC issues premium rebates for Energy saving renovations
Secured Line of Credit & Home Equity Loans
Use a secured line of credit or home equity loan to pay for your renovation. Securing your renovation loan
against the equity in your home can typically be up to 80% of the property value; accessible at any time.
Benefits
• Lower interest rates than non secured financing
• Access funds at any time
• Interest only payments
Talk to your mortgage broker today to review your renovation financing options!
Rita Cousins Senior Mortgage Advisor
mortgages@ritacousins.com
C 604 230 9206
Fraser Valley Real Estate Market Update | 2025 Year-End Review I love looking at the numbers. Not just the headlines, but what the numbers actually tell us when you slow down and connect the dots. And the headline for 2025 is simple. π Sales in the Fraser Valley fell to their lowest level in more than 20 years. That sounds dramatic. But this wasn’t a collapse. It was a pause. π₯ In this video, I walk through the full year-end 2025 statistics from the Fraser Valley Real Estate Board, break down what really defined the market, and explain what actually matters going forward. π Here’s what I cover in this update: π 2025 Fraser Valley sales volume and historical context ποΈ Why rising inventory changed buyer behaviour π What the sales-to-active listings ratio tells us π² Benchmark pricing by property type π§ Why confidence matters as much as the numbers π How buyers and sellers should position heading into 2026 π Market data referenced in this video: • Year-end statistics from the Fraser Valley Real Estate Board • Benchmark pricing and HPI trends • Sales-to-active listings ratios • Detached, townhome, and apartment breakdowns β οΈ Important note: Market statistics provide context, not guarantees. Real estate is local. Strategy matters. π Full market stats link: https://rly.forsale/DecStats
Some days you’re polished. Some days you’re just… memorable. Check out LAPS for adoptables π
SURREY, BC – Decade-high inventory and softer prices failed to spark buyer demand in the Fraser Valley in 2025. Despite favourable conditions and increased negotiating power, many buyers stayed on the sidelines, making it one of the slowest years for sales in decades. The Fraser Valley Real Estate Board recorded 12,224 sales on its Multiple Listing Service® (MLS®) in 2025, a decline of 16 per cent over 2024 and 33 per cent below the 10-year average. The City of Surrey accounted for the majority of 2025 sales at 48 per cent, with Langley and Abbotsford accounting for 24 per cent and 16 per cent respectively. On the supply side, buyers had more choice than at any point in the past four decades, as new listings climbed to 37,963. The composite Benchmark home price in the Fraser Valley closed the year at $905,900, down six per cent year-over-year, and down 24 per cent from the peak in March 2022.
