3 Reasons to Renovate Your Home in 2019 - Loan Trivia

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Wednesday, 19 June 2019

3 Reasons to Renovate Your Home in 2019

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Renovating your home can help make it as good as new again while securing your investment in your home. As renovation requires you to hire contractors, electricians, plumbers or make purchases of new furniture or raw materials, it often comes with a heavy price tag. You can avoid delaying or compromising on such improvement activities and finance your home renovation with a personal loan.

With Home renovation loan, you can fund all your home renovation plans at a nominal interest rate. Here you can avail up to Rs.25 lakh without having to pledge any of your personal assets. Additionally, you can benefit from the online application and management features and easy personal loan eligibility criteria, and minimal documentation. You can also avail the Flexi Loan facility to borrow as you need from your sanction, and pay interest only on the used amount. With this facility, you can prepay at no extra cost and choose to pay interest-only EMIs too.
Must Read: Is Financing For Home Furnishing a Good Idea?

Now that you know how easy it is to fund your home renovation, look at why renovating your home is a good idea.
  1. It adds value to your home Renovating your home can help maintain the life of your property. However, in addition to this, it also ensures your home remains an asset. This is because every new addition to your home, even in the form of a renovation, increases the overall value of your home. For instance, adding outdoor living space or an intermediate floor increases the living space of your home. Additionally, adding a new bedroom can take your home from the 1BHK category to the 2BHK category. This way you will have enough funds for all your redesigning needs. 
  2. It upgrades your lifestyle By redesigning or renovating your home, you are not only adding to its value, but also improving your own lifestyle. Adding space-saving furniture can keep your home decluttered despite having kids or a hectic schedule. A modular kitchen can make storage easy and organized. A vertical garden can help you grow your own herbs without harmful pesticides and chemicals while purifying and cooling the air in your home. Renovating your bathroom and separating the shower space can reduce the moisture in your bathroom, making it more hygienic. To do all this and more, avail the Flexi Loan facility on the personal loan for home improvement. With this, you can borrow funds multiple times from your sanction as your need arises and pay interest only on the used amount. You can also choose interest-only EMIs to ease your initial monthly outflow post renovation and organize your finances for repayment. 
  3. It eliminates the need to purchase a new home You may be looking to shift into a new home with growing requirements of things like a guest room, a baby’s room, a play area for the kids, a bigger kitchen, or better outdoor facilities. All these needs can be easily catered to while renovating your home. This can help you reduce your expenses immensely as purchasing a home can prove to be much more expensive than doing a well-planned home renovation. You can choose to add a new room, add a water-storage tank, house alternate power supply, redesign your kitchen and have your plumbing fixed too. While you do all this, you can keep track of all your expenses with the online account management feature on the customer portal when you take a home improvement loan from NBFCs, Additionally, you can cut down your expenses even further when you choose this personal loan as it has nominal Personal Loan interest rates that make your loan experience pocket-friendly.
Also Read: Home Renovation Loan: Why is it a Good Option?

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