GOLDEN VALLEY, Minn. - Is your house starting to show its age? Maybe you're looking to spruce-up your kitchen? Or finally get that deck built? A recent survey by shows 20-percent of Minnesota homeowners are said to be thinking about renovating, and 42-percent of local homeowners are targeting their kitchen.

Financial advisor Dan Ament from Morgan Stanley in Wayzata joined us on KARE 11 Sunrise with some ideas to keep your home renovation project from derailing your financial plan.

Ament said 1 in 5 Minnesota homewoners finance their renovations with a credit card, which can end up more expensive in the long run, especially if you're only paying off the loan with minimum payments over a long period of time. Most people find other avenues to pay off their projects; 68-percent say they prefer savings or cash to finance their home renovation, and about 16-percent finance through a loan.

Ament said you can get the most value for your money by considering a home project that enhances both your home and your home equity. That includes projects like upgrading landscaping, replacing garage doors, getting a new roof, or adding a patio or deck outside; inside, projects like adding hardwood floors or insulation can bring value to home equity.