If you’ve never tackled a serious home renovation project before, then yes! If you’re planning on a major renovation potentially involving carpentry, plumbing, electrical work, and possibly even permits, a general contractor can be an excellent resource. A general contractor can manage all of the above tasks and hire specialists for anything they’re unfamiliar with.

If you are a DIYer and you’re comfortable with tools, you may be capable of managing a home renovation on your own, but the process may take significantly longer as you nibble away at the project in the evenings and over the weekends.

There are numerous financial resources available that can help you pay for a home renovation. Examples include:

• HOME Investment Partnerships Program: This partnership program from the U.S. Department of Housing and Urban Development (HUD) is designed to help low- and very low-income individuals access decent and affordable housing.

• HUD Community Development Block Grant Program (CDBG): The CDBG Program focuses on urban development by expanding opportunities for low- and moderate-income families.

• VA Specially Adapted Housing Grant: This program aims to offer housing grants to veterans and service members with service-related disabilities and who require modifications to their homes to assist in living independently. Learn more about Special Home Adaptation grants.

• Native American Housing Improvement Program (HIP): This program is designed for members of federally recognized American Indian Tribes and Alaskan Natives who live in approved tribal service areas and meet a few other criteria. Visit the U.S. Department of Interior Indian Affairs Housing Improvement Program for more information.

• Home Equity Loan or HELOC (Home Equity Line of Credit): A home equity line of credit is when you take out a line of credit using your equity as collateral. This line of credit could be used to lend financial assistance during your home renovation.

On average, a home renovation sees an ROI of 70%, although the value your renovation adds largely depends on the scope of the project. For example, a kitchen renovation that adds additional square footage to your home will likely yield a higher return than luxury upgrades in the spare bedroom. A renovation’s return on investment largely depends on the market, the location, the project type, and timing.

Remember, though, that your investment also has an intangible impact. By improving your living space, you’re also making life easier for you and your family, and that improvement to your day-to-day life could prove even more valuable than any sort of financial pay-off.