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Renovation loan? No problem! Borrow money without a bank

Are you planning to have a renovation carried out on your house or in your garden, then of course there are costs involved. Often the costs of a renovation or renovation are on the high side, and not everyone has a piggy bank available for this. Sometimes, however, a renovation is pure necessity, for example in the case of changed physical circumstances that require a home modification. Taking out a renovation loan can then be an excellent option.

But in other cases, a renovation loan can also be a good investment. For example when you opt for an environmentally friendly renovation. By opting for double glazing, better insulation or solar panels, you can definitely earn back the investment in the long term. Other renovations to your house or garden can also increase the value of your property. Because of this increase in value, the lender is fairly certain of a repayment. As a result, the interest rate of a renovation loan is relatively low.

By taking out a loan you immediately have money available for the renovation in question. Reimbursement is done through clear agreements and in pre-determined installments. No room for ambiguities!

Home renovations

Home renovations

A home renovation is often desirable, but sometimes even necessary. For example if a new bedroom is needed, or if (mandatory) maintenance has to be done. Your home may be adjusted to your physical condition. Due to a handicap or due to an advanced age, some adjustments are necessary to be able to continue living at home. Of course you can also opt for a renovation that considerably improves the luxury of your home: you can have a new kitchen installed or have an extension installed. The possibilities are endless, as well as the reasons for the renovation or renovation.

The costs associated with the above work can be quite substantial. You may have some money available for this on your savings account. But even if that is not the case, you can have the renovations carried out at home. You can easily obtain the required budget through a renovation loan.

A renovation loan is a type of personal loan that is aimed at a renovation or renovation. To be able to take out a renovation loan, you must therefore be able to demonstrate that it is indeed a renovation or renovation. The lender will therefore ask you to provide invoices.

Renovations in the garden

Renovations in the garden

You can also claim a renovation loan in the case of garden renovations. Laying a completely new tiling, implementing a new planting plan or having a new pond laid? It is all possible thanks to the financial options that you have. A renovation loan is a personal loan that is specifically intended for home or garden renovations. Submitting an invoice is therefore necessary to be able to take out the loan.

Compared to a general personal loan, a renovation loan is specifically aimed at carrying out renovations. Due to this specific spending objective, the interest rate is generally lower than with a personal loan. Furthermore, the loan is characterized by the advantages of a personal loan: clear agreements beforehand and no uncertainties during or after the end of the loan. The interest rate and the payment period are determined in advance. So you know exactly where you stand and what obligations you are entering into. On the other hand, there is an immediately available budget, so that you can start the renovation work immediately!

Grants

 

Sometimes adjustments to your house or in the garden are not a matter of free will, but of pure necessity. This may, for example, be the case in the event of a disability or if the home must be adjusted to the resident’s advanced age. People often want to live at home as long as possible despite their older age or physical discomfort. That is logical and good for the national economy. This keeps healthcare costs as low as possible. Belgium is therefore concerned that people can continue to live happily and easily at home. Renovations or renovations for homes for the elderly or for the disabled can therefore count on subsidies in the form of adjustment premiums.

A good environment is of course also in everyone’s interest. After all, we have to be careful with the world in which we live. Future generations must also be able to deliver healthily on our earth. Energy efficiency is therefore an absolute plus in the current time. Renovations or renovations that contribute to this, such as installing double glazing, insulation or solar panels, can count on subsidies. This makes it more attractive to have renovations or renovations carried out. Moreover, you save a lot of money in the long term if you opt for energy-saving measures. Thanks to the subsidies, an ‘ecological renovation’ is therefore extra attractive!

Renovate yourself or have it renovated?

Renovate yourself or have it renovated?

For some, the answer to the above question will be clear. Not everyone has the knowledge and skills to carry out a renovation themselves. In that case it is wise to outsource the work to a professional. You can have various quotes prepared by companies in your region, so that you are assured of the best price. When requesting an offer, it is advisable to be as specific as possible in terms of information provision. That way the companies can make a customized offer, making your price estimate as good as possible. The better your negotiating position when you take out a renovation loan.

Even if you decide to carry out the renovation work yourself, you can still be eligible for a renovation loan. The work is likely to increase the value of your property, making it likely for the lender that you can actually repay the loan. As a result, the interest rate with a renovation loan is also somewhat lower than with a standard personal loan.

Eco checks

In case of a renovation from an ecological point of view, you can use eco vouchers. This includes renovation work that contributes to improving the environment, such as energy saving (insulation material, double glazing), green energy (solar panels), water saving (sink with saving button for toilets), and similar renovations or renovations. In addition to the standard wage, the employer can reward the employee by means of eco vouchers. Eco vouchers also apply when taking out a renovation loan: ask for the conditions.

 

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