When you buy an apartment or house, adjustments are often needed. With a renovation loan, you can renovate or renovate quickly, without having to plunder your savings account. Discover what this loan entails and how you can turn your house into a home at a good price.
Get started quickly with a renovation loan
Do you want to renovate or renovate your apartment or house ? Laying out a garden, installing a kitchen, freshening up your interior? Then a renovation loan is a good idea.
For small or large works, you can take out a loan quickly, at an attractive rate. You can go to Geldlenen for this. This independent broker compares the different offers from credit institutions. That way you always get the best offer. So no longer postpone and realize your project.
Why a renovation loan?
A renovation loan is possible for large and small projects. This allows you to maintain sufficient space in your budget without having to plunder your savings account.
When you take out the loan, no extra file or notary fees are charged. Every month you pay a fixed amount at a fixed interest rate. This is how you spread your costs. You determine the duration and the monthly payment yourself. The interest is also lower than with other loans.
A few more tax benefits
When the renovation loan only came on the market, you could borrow an amount and contribute it fully for tax purposes. In the meantime, this is no longer possible.
But installing roof insulation , for example, is tax deductible. A percentage of the cost price will then be deducted from your taxes. You also save on your energy bill. Double benefit!
Even when you invest in the safety of your home and is your home older than 10 years? Then you benefit from an extra benefit. You then only pay 6% VAT instead of 21%. You can also enter these works into your taxes.
Conditions for obtaining a renovation loan
Every owner can take out a renovation loan and benefit from a low rate. You must prove on the basis of quotes, invoices and other official documents that you are actually renovating. A renovation loan is also possible if you bought a new property and want to finish it in phases, or if you need extra capital in addition to your mortgage loan. Is your house older than 10 years? Then you pay 6% instead of 21%.
What do you keep in mind?
The term of your loan depends on the budget to be borrowed and the amount that you can pay off each month. Make a good estimate of this in advance. Because: “Borrowing money also costs money.”
The renovation loan is still loved. Many financial institutions offer this. Because of this there is mutual competition. The lenders determine the interest of the loan themselves, there is no fixed cost. They also offer their own benefits. Therefore compare the different options and take advantage of them. An independent credit broker can advise you on this.