What Renovation Actually Costs in 2026
Before financing a renovation, it helps to know what you're financing. Kitchens remain the most expensive room to redo: a minor refresh (new counters, cabinet fronts, appliances) typically runs $25,000–$35,000, a mid-range gut renovation lands around $35,000–$65,000, and a high-end kitchen with custom cabinetry and premium finishes can clear $75,000–$100,000+. Bathrooms are less expensive but add up fast across a home — a powder room refresh runs $5,000–$10,000, a full standard bath $12,000–$18,000, and a primary suite bath $18,000–$35,000+. A true whole-home renovation spans $20,000 to $150,000, depending heavily on square footage, scope, and region.
of a typical renovation budget goes to labor alone, which is a large part of why costs vary so much by region and contractor availability — material choices matter, but who's swinging the hammer matters more.
Source: AmeriSave, “Complete Guide to Home Renovation Costs in 2026.” Figures are national ranges, not quotes for any specific project.
Why a Line of Credit Fits a Renovation Better Than a Lump-Sum Loan
A renovation rarely has one bill. It has a deposit to the contractor, a delivery charge for cabinets, a change order when the electrician finds outdated wiring behind the wall, and a final invoice once the punch list is closed out — usually spread across weeks or months. Borrowing the entire estimated project cost on day one as a lump sum means paying interest on money that's sitting in your account for a month before the drywall crew even shows up.
A HELOC works differently: it's a credit line secured by your home's equity, and you draw against it as each bill actually comes due. If your kitchen remodel is quoted at $45,000 but you only need $12,000 for the first phase, that's all you draw — and that's all you pay interest on, right up until you draw more.
How Much Should You Borrow?
The honest answer is: borrow what the project needs, with a reasonable cushion for the change orders that come up on nearly every renovation — contractors and remodeling guides commonly suggest budgeting an extra 10–20% for surprises once walls come open. Your available line depends on your home's value, what you still owe on your first mortgage, and the lender's maximum combined loan-to-value ratio, typically up to 85%.
Every state page on this site includes an available-equity calculator built around that math. See where you stand on the Florida, Maryland, or Virginia page, or use the comparison calculator on the homepage.
A Fixed Rate on Every Draw
One real drawback of a traditional HELOC is that the whole line typically carries a single variable rate, which can move against you mid-project if the market shifts between your first draw and your last. Equity Line Direct's application runs on Aven's platform, where each individual draw locks in its own fixed rate at the moment you take it. Draw $12,000 for the demo phase in October and $20,000 for cabinets in January, and each amount keeps the rate it was drawn at — your October rate doesn't change just because market rates moved by January.