Since every tweak made to a home has the potential to enhance its value, it is fair to look at a house renovation loan not as a cushion to fall back on in tough times, but as a stepping stone to transformation. A personal loan for home improvement gives you instant access to collateral-free funding that you can use to make your home more attractive to prospective buyers.
Simply put, a personal loan for home renovation can help you increase your home’s value manifold. For a deeper understanding of how this works, read on.
You can improve your home’s net worth with cost-effective funding
When you invest smartly in home renovation, the turnovers you can expect are handsome. Since the scales are in your favour, your only task is to draw out a blueprint of enhancements and then scour the market for solutions with economical house renovation loan interest rates. With Bajaj Finserv, for instance, you can obtain a home renovation loan at competitive interest rates and use it to improve your property’s value by leaps and bounds.
You can carry out major repair work with sanction up to Rs.25 lakh
Even though a house renovation loan is, in essence, a personal loan for home improvement, you get access to a large loan amount. This is crucial, especially when repair work is involved, as often you have to take care of multiple tasks in one go. For instance, water seepage problems can cause damage to your home’s structure and addressing these keep your home healthy and potential buyers happy. With Bajaj Finserv, you obtain finance up to Rs.25 lakh and you can use this to redo your roof and ceiling, fix broken pipes and plumbing issues, and tend to other expenses that crop up as well.
You can remodel or renovate a space and repay the cost comfortably
Utilising space better is a top way to improve the value of your home and a house renovation loan is a handy companion when remodelling is on the cards. This is because you can repay the loan over a tenor that stretches up to 60 months and so, bring big-ticket plans into your budget easily. To plan for repayment, you can use the loan emi calculator. Thereafter, by converting a garage into a living room, for instance, you can increase your home’s value by about 15% and similar things can be said about extending a kitchen, adding a study, and landscaping areas that have been unkempt so far.
You can re-do your exteriors and interiors instantly with hassle-free financing
Just a fresh coat of paint, premium emulsion or basic distemper, can enhance your property’s value fourfold. This means, for every Rs.40,000 spent, your home’s net worth could rise by Rs.1 to 2 lakh. The same applies to interior furnishings. Adding woodwork and redoing the front façade and entranceway are tested ways to better a property’s value. What’s great about a house renovation loan is that you can carry out these changes effortlessly, with finance that’s available swiftly owing to simple loan eligibility criteria.
For instance, when you apply with Bajaj Finserv, you obtain approval within 5 minutes of making an application and get access to finance within 24 hours of document verification. This allows you to carry out renovation instantly, as soon as the opportunity or a seasonal deal on material and furniture, for instance, presents itself.
Additionally, the Flexi Loan facility gives you access to finances on the go and with it, you can withdraw from your sanction as and when the need arises without additional documentation. Here, you are charged interest only on the amount withdrawn.
So, what are you waiting for? Identify aspects of your home that need a refresh and use a house renovation loan to make your dreams a reality. To improve your home’s worth right away by availing an instant loan, check your pre-approved personal loan offer.