I have owned the house for close to 2 years. It is a 2,300 sq. ft. 1894 Victorian single family home in a historic district in Washington, DC. We have blueprints for a multi-story, multi-room renovation that will total about $450,000 - 500,000. The house was purchased for $1,435,000 and the renovations would bring the value to about $2,000,000. We have just over 20% equity on the home, mostly from the initial down payment so HELOC / home equity loan wouldn't be helpful.