Financing Your Log Cabin Renovations: A Guide

A log cabin can be a dream for many, but it is unsurprising that these kinds of renovations can cost a lot of money and be an expense many cannot afford. 

That said, there is no need to wait for the right time to renovate a log cabin. After all, life is short!

So, here is a guide to help you with financial decisions when it comes to your dream log cabin renovation.

“Calculate the costs of a log cabin renovation so you know where you stand!”

Do Some Rough Loan Calculations 

It is best to be as detailed as possible when borrowing money, as borrowing more than is needed can be a slippery slope!

However, it is understandable that renovations can be hard to predict financially, so a rough estimation of the cost of different parts of the renovation product should serve as a decent base to work from.

A quick calculation is also a good start to see if financing for a log cabin renovation is feasible because everything going into a renovation project can add up pretty fast, and there may be some elements that haven’t been considered. Investor Gov offers some great calculators for free to help with this.

However, the total can work both ways, and you might be pleasantly surprised to find that your dream log cabin renovation will not cost as much as what was initially predicted.

There are also a few factors to consider that will influence the cost of a log cabin renovation.
These factors are:

Age – Opening up older buildings tends to unearth problems that you might not have been aware of before.

Complexity – Are you simply repainting the walls and changing the carpet, or are you changing the electrical systems and adding in plumbing?

Size – The size of the log cabin will also determine the costs, as more money will equal more space.

Quality – Deciding what kind of amenities to include during the renovation will also determine costs. A basic white bath tub will cost significantly less than a free-standing claw foot tub!

Labor/DIY – Depending on whether you plan on renovating the log cabin yourself or hiring contractors will also significantly vary how much money you will need to put aside (though you will need a considerable amount of more time!).

It is also worth bearing in mind that if you do it yourself and something goes wrong, it will be in your hands (and wallet) to fix it. This risk is equally as true for hiring labor contractors who have the proper credentials, as it is extremely important to hire reputable contractors with insurance when it comes to such large jobs. This way, you know the renovation is left in good hands. 

“Make sure the lender you choose actually covers home construction!”

Choose a Lender that Covers Home Construction

If you opt to seek additional help to fund your renovation, rather than just using your savings, it’s vital to look thoroughly into all options. It is true that there are log home lenders specializing in new construction, but different lenders cover different things, and you may be faced with a small number of options for financing a renovation.

It is important to do some research to find out what might be the best lender for you and your log home renovation — and someone who has preferably had experience in lending within the home construction sector before.

What are the Financial Options for Funding a Log Cabin Renovation? 

Previously, it has been much more difficult to fund any kind of house renovation. It used to require a trip to the bank, speaking to a loan officer, and putting the decision of your dream into their hands. But now, thankfully, there are a lot more options when it comes to borrowing money for house construction projects.

Personal Loan

A personal loan can be a great option for those who would like to embark on a renovation, as they typically have a lower interest rate than a credit card. Personal loans are also useful in the sense that they have a definitive, set time in which the loan needs to be paid back, so payments do not drag on, and interest is less likely to accumulate over an indefinite minimal payment setup.

Be sure to check and compare for the latest deals to get the lowest interest rate possible on a personal loan.

Mortgage Refinancing

If you are planning on a significant renovation, a mortgage refinancing option is a great choice. But why do this? Homeowners looking into re-mortgaging could find themselves at the receiving end of a better interest rate.

Line of Credit (LOC)

A line of credit is a flexible loan that offers a defined amount of money, made payable back to the lender of a financial institution, either immediately, or within a certain amount of time.
There is also the option to take out a HELOC, which takes homeownership into account. This may offer a lower interest rate by using your home’s equity as collateral. 

Credit Cards

Credit cards can be a great option for both spreading the cost of a renovation, and also the chance to earn rewards or get cash back. Rewards can include all sorts of helpful discounts, and all you have to do is spend the money from your credit card. Just make sure to check the interest rate and get a good deal on a credit card before going forward with it, as interest can increase dramatically.

Quick Loans

Quick loans, such as Cash Lady, can also be a viable option for those who need an injection of cash immediately for their project. There are various reasons someone might need a quick financial boost during a renovation, such as something has gone wrong that needs to be fixed immediately, or a job needs a tiny bit more work to improve the quality or be completed. Whatever the reason, a quick loan can be a useful option if money is needed on the spot or out of the blue. 

Make Sure to Plan for the Unexpected

While everyone would like their log cabin renovation to run as smoothly as planned, sometimes issues or changes do pop up out of the blue, and this can cost more money than initially planned. Give yourself some leeway for if these situations arise, and then if they do not, you still have money left over. 

It is also a good idea to have several financial options in mind, just in case one of them gets turned down!

Enjoyed this page? Please LIKE and SHARE it on Facebook:

New! Comments

Have your say about what you just read! Leave me a comment in the box below.

Home | About Us | Contact Us | Privacy Policy | Disclaimer

FAQs | About This Site | Advertise | Site Map | Glossary | Disclosure Policy


©2008-2020 Log Cabin Connection
All rights reserved

LIKE and SHARE Log Cabin Connection:

NEW! Check out our Facebook page:

We use affiliates and ads. No cost to you. Click for FTC disclosure.


Check out our Cabin Shop!


Jamaica Cottage Shop

Ebates Coupons and Cash Back

Sign up for Personal Capital and get $20 free!



Financing Your Log Cabin

Learn How You Can Finance a Log Home
Log Home Construction Loans Made Easy
List of Nationwide Log Home Lenders
Other Ways to Finance a Log Home
Ways to Save Money on your Mortgage
Log Home Insurance for Peace of Mind
Mortgage Money-Saving Tips
Home Financing Primer
Understand the Mortgage Loan Process
Free Credit Score Calculator
Personal Capital - Free Investment Checkup
Financing Your Log Cabin Renovations: A Guide


Recent Articles

  1. Cabin Interior Design Blends Form and Function

    Cabin interior design combines layout and functional design with aesthetic cabin decorating decisions for the perfect log cabin interior.

    Read More

  2. Transforming Your Cabin With Rugs

    Transforming your cabin with rugs is a quick and easy way to Keep It Cozy!

    Read More

  3. Log Cabin FAQs

    Answers to many log cabin FAQs and other questions about building with logs and timbers.

    Read More