Can I use a home renovation loan for cosmetic changes or only for structural changes?

Yes, you can use a home renovation loan for both structural changes and cosmetic changes to your home. Home renovation loans are typically flexible and can be used for a variety of purposes related to improving and enhancing your property.

Structural changes may include activities such as construction, extension, or alteration of rooms, adding floors, or making changes to the layout of the property. These changes often involve modifications to the core structure of the house.

Cosmetic changes, on the other hand, focus on improving the aesthetics and appearance of the property. This can include activities such as painting, flooring, tiling, interior decoration, kitchen or bathroom remodeling, installing fixtures, or other cosmetic upgrades.

It's important to note that the scope of renovations covered by the loan may vary among lenders. Some lenders may have specific guidelines on the types of renovations they finance, while others may offer more flexibility. Therefore, it's advisable to check with the lender regarding their policies and approved renovation activities before availing a home renovation loan.