Tips for Financing a Home Project

What's the best way to pay for a home improvement project? Here are the pros and cons of common financing options.

Large swimming pool and patio in a secluded back yard.
(Image credit: Getty Images)

I recently had a call with a client who was looking to fund the construction of a swimming pool at his house. The client had enough cash to pay for the project but wanted to weigh all the financing options. This is the type of advice we as financial planners are often asked to give.

Funding a large purchase should be thoughtfully planned. I always recommend that clients take a moment to consider how a potential purchase impacts their overall financial plan and long-term goals, and I work with them to quantify those impacts.

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Mario Hernandez
With contributions from