Most people need to borrow money to finance a renovation project. Without a loan or some other form of credit, it is difficult to buy materials or pay trades to carry out the work. Some renovation projects can cost hundreds of thousands of dollars, which is well beyond the savings of ordinary people. If you only have plans to add a new kitchen and bathroom before selling the property on, you may be able to manage with a personal loan, but if you have grand designs or are a professional property developer, it is sensible to look at alternative methods of funding a property renovation.