Should You Take Out a Larger Mortgage to Pay for Home Improvements?

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A man drilling cupboard doors while doing renovations in his kitchen.

Image source: Getty Images

Many people who apply for a mortgage want to borrow enough money to cover the purchase price of the home they’re buying (minus the down payment they’re able to come up with). But what if the home you’re buying will need improvements? If that’s the case, you may be tempted to take out a higher mortgage.

Here’s how that might work. Say your home costs $200,000. You have $50,000 available for a down payment. So you plan to only borrow $150,000. However, that’s a larger down payment than your lender will ask for. Most lenders are more than satisfied with a 20% down payment. For this example, a 20% down payment would only be $40,000. In this case, you could simply put down less money ($40,000 instead of $50,000), get a larger mortgage ($160,000 instead of $150,000), and use the remaining funds (the extra $10,000 you

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6 home improvements to tackle, post-pandemic, (number 6 is our favourite)

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Home improvements can take time, so it’s no surprise that when we were all in lockdown and spending far more time at home, our DIY skills were put to the test.

Now that many of us are readjusting to life, post-pandemic, sure we’re becoming accustomed to wearing masks and social distancing measures outside the home, but, what about when it comes to our own space and surroundings? 

The reality is that while lockdown restrictions were loosened for many of us, we are still very much in an unstable climate. With news of reinforced lockdown measures in certain parts of the UK, and worries of a second wave firing up our televisions and mobile screens, it’s clear that we need to look ahead and adjust to a new way of living, in and out of our homes.

Enhancing home decor and maximising a space’s functionality is what Real Homes is all

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Home Improvements and Your Taxes

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Updated for Tax Year 2019


As a homeowner you may be asking, “Do I get a tax break for all the money I’ve spent fixing up my house?”; The answer depends on the kinds of improvements you’ve made and how well you’ve kept track of your expenses. Here’s an overview of how home improvements can affect your taxes.

When you make a home improvement, such as installing central air conditioning or replacing the roof, you can’t deduct the cost in the year you spend the money. But, if you keep track of those expenses, they may help you reduce your taxes in the year you sell your house.

Improvements versus repairs

Money you spend on your home breaks down into two categories, tax-wise: the cost of improvements versus the cost of repairs.

Capital improvements

You add the cost of capital improvements to your tax basis in the house.

  • Your
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NT Homes, Home Improvements Darwin | Home Improvements Palmerston

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Whether you are looking to make small improvements or completely renovate your home, NT Home Improvements can help you reach your goals while staying within your budget.
Our goal is to help you create a home of your dreams while making the process easy for you.
At NT Home Improvements we understand, we listen, we respect your wishes and we aim to minimise disruption along the way.
Over 10 years experience, combined with the highest quality standards, ensures we deliver the result that matches your vision and gives you the lifestyle you’re after.
So from the moments we meet with you to discuss your needs, right through planning and construction, and for many years beyond, you’ll be glad you chose NT Home Improvements.
For any queries feel free to call us @ 0417 860 608
» Interior painting
» Kitchen replacement and refurbishments
» Bathroom renovations
» Hot water systems
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Home – Kitchen, Bathroom, Window, HVAC and Other Home Improvements

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Featured Articles


Home Improvement Topics



Drip, drip, drip..Having plumbing problems? Or, maybe you need some plumbing help. From repairing kitchen faucets to toilet repair and from plumbing tools to everything including the kitchen sink, Repair-Home makes do it yourself plumbing easy. (And if those blocked drains are driving you plumb crazy, stop hyperventilating. We can find you a plumber for the job.) See All Plumbing




We offer comprehensive info on electrical wiring, installing electrical outlets and, especially, electrical safety. Doing home electrical wiring? We’ll show you how. (But if that circuit breaker is breaking you down, we’ll find you electrical contractors who can get the job done.) See All Electrical


Heating and Cooling

Heating & Cooling

Do you have icicles forming on your nose while you’re inside? Perhaps you need home heating and air conditioning help. Learn all about different heating systems including radiant heating, baseboard heating and more. (But when

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NJ Home Improvements & Construction

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New Jersey Home Construction Professionals

We have a long history of delivering home construction projects in New Jersey that exceed expectations while remaining within budget. Projects range from new home construction, hardscaping, poured concrete foundations, patios, retaining walls, walkways, interlocking pavers, stairs, seating walls and more.

Learn about our NJ Home Improvement Services…

Excavation & Poured Concrete Foundations in NJ

New Jersey poured foundation services

Our poured concrete foundations experts take pride in their work. With our combined service package of excavation and poured concrete foundations, you can rest assured that your new concrete foundation will be professionally constructed using high-quality materials and equipment for a precise, strong and durable build.

Learn about our Excavation and poured foundation Services…

Quality New Jersey Hardscaping Services

NJ Hardscaping Services

We specialize in listening to what you’re looking to improve around your home, including Driveways, Outdoor patios, Walkways, Pavers, Outdoor kitchens, Outdoor living, walkways, driveways and much more. We want to

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Home Improvements and Structural Alterations (HISA)

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Home Improvements and Structural Alterations (HISA)

This grant provides medically necessary improvements and structural alterations to Veterans/Servicemembers’ primary residence for the following purposes:

  • Allowing entrance to or exit from their homes
  • Use of essential lavatory and sanitary facilities (e.g. roll in showers)
  • Allowing accessibility to kitchen or bathroom sinks or counters (e.g. lowering counters/sinks)
  • Improving entrance paths or driveways in immediate area of the home to facilitate access to the home through construction of permanent ramping
  • Improving plumbing or electrical systems made necessary due to installation of home medical equipment

HISA will not pay for:

  • Walkways to exterior buildings
  • Spa, hot tub, or Jacuzzi
  • Exterior decking
  • New construction

HISA Grant Amounts

Lifetime HISA benefit up to $6,800 may be provided for:

  • Veterans and Servicemembers who have a service connected condition
  • Veterans who have a non-service connected condition rated 50% or more service connected

Lifetime benefit up to $2,000 may be

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MC Home Improvements and Construction |

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MC Home Improvements & Construction, LLC, satisfactorily serves New Jersey homes with a wide range of home improvement services. We are professional builders who are also experienced in the fabrication of many different types of home applications.

For homeowners, home buyers and property investors alike, MC Home Improvements & Construction, LLC provides value added construction services. Being an active competitor in today’s real estate market is essential for any homeowner, and MC Home Improvements & Construction, LLC is here to extend to you our professional expertise so that your home becomes an asset that you can be proud of. Quality workmanship at affordable costs is our trademark, no matter how big or small the job may be.







MC Home Improvements & Construction, LLC is a leader in providing value added construction services to

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Ferris Home Improvements – Delaware’s #1 Home Improvement Company offering Roof Replacement and Roof Repair, Gutters, Siding and Window Replacement and Repair, Kitchen and Bath Remodel, Decks

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Now at 2 Locations!

Welcome to Ferris Home Improvements, a local Wilmington Delaware home improvement company you can trust.
Ferris Home Improvements is an award-winning, family-owned & operated, and locally-owned & operated home improvement company headquartered in Newark DE. Voted the #1 Home Improvement Company in Delaware 8 years in a row by Wilmington NewsJournal readers.
Voted Delaware’s #1 Home Improvement Company in 2012, 2013, 2014, 2015, 2016, 2017, 2018 &2019 by the Wilmington Delaware News Journal Readers’ Choice Awards.
Our family-owned and operated business boasts excellent customer service and craftsmanship. We specialize in roofing, windows, siding, decks, kitchens and bathrooms.

Meet Owner, Reds Ferris:

Our Home Improvement Services:

♣ Delaware Roofing Replacement & Roofing Repairs ♣ Window Installation & Window Repair ♣ Siding Installation & Siding Repair ♣ Gutter Replacement, Gutter Repair & Gutter Cleaning ♣ Bath Remodeling & Bathroom Renovation

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