Home Renovation Quiz Renovations can improve your living space and help you build equity in your home. Start by educating yourself about renovation, financing options and working with contractors. 1 Depending on your goals, a home renovation can help you _________. Improve energy and water efficiency Upgrade your home’s aesthetics Make your space more functional All of the above question 1/5 Next 2 True or false: You cannot use the current equity in your home to finance a home renovation. True False question 2/5 Next 3 When developing your renovation budget, you should include _________ to cover any unexpected costs along the way. An IOU A contingency reserve A credit card number All of the above question 3/5 Next 4 When should you consider paying a contractor in cash? Never When they ask for it specifically When it's a small dollar amount It is always okay to pay contractors in cash question 4/5 Next 5 Projects such as siding replacement, window replacement and minor kitchen remodels can return more than ________ of their value. 40% 50% 60% 70% question 5/5 View Results ★ You scored 0 out of 5. Great job! It looks like you have a solid understanding of home renovations. You’re on the right track, but consider learning more about planning, financing and managing a renovation project. Retake quiz
