‘Improving one’s home’ will never go out of vogue. Even if your house is new, there will always be room for improvement and renovation. Sometimes, an urgent repair or need could trigger your mindset to get the home improvement started. The problems will only compound if you don’t take action. Home improvement can also be accomplished for a perfectly functioning house.
Home Improvement Loan
Ever heard of a home improvement loan? Or home renovation loan? Or home remodeling loan? These are all sub categories of personal loan that can be availed from Loan Singh’s digital lending platform. Transforming your home, into the one you always dreamt of, is not easy. You need added funds to do this.
You may be salaried and even earning well, but there will always be a need for credit or refinancing. This is because remodeling or renovating your home or bungalow requires spending. You might be financially stable, but can you really afford to turn your house into your dream home?
Home improvement loan or home renovation loan, availed under the ‘Others’ loan category on Loan Singh’s digital lending platform, allows salaried individuals to apply for an online personal loan with only Aadhaar, PAN and Bank statement.
A digital lending platform needs no paperwork and is devoid of unending delays. A personal loan can also be availed for a number of reasons such as the purchase of household appliances, electronic gadgets, purchase of gold, holiday travel, fitness loan, job relocation, medical expenses, home renovation, marriage, etc.
The loan amount for a personal loan at Loan Singh ranges from Rs.50,000-Rs.5,00,000. The repayment is done via EMIs, with interest rates on a reducing balance method. The personal loan tenure can be from 3 to 36 months.
5 Benefits of Home Improvement
For those of you who want your home to be the envy of the town, a home improvement is the best bet. Whether it is focusing on only a section of the home such as the bathroom or getting the whole house a makeover, the improvement of your home is a must.
You need to set a budget plan, and always keep an eye out for expenses going out of hand. It is important that you apply for the loan amount from Loan Singh by keeping all possible expenses in mind. Prioritize your renovations as well. Make individual cost sheets for bathroom, kitchen, cabinetry, flooring, etc. Let’s look at some of the benefits of improving your home.
- Comfort and Spacing
This may not be a priority benefit for many of you, but it is a key aspect for improvement towards any home. Your comfort and enjoyment are crucial factors that must be kept in mind. You want to improve your home so that you enjoy the fruits of your labor. Your home is now exactly how you wanted to renovate it as, and this means you can upgrade the house’s level of functionality and comfort. When you upgrade your bathroom, you automatically upgrade towards the comfort offered by a cool Jacuzzi. When you upgrade the kitchen, your cooking process gets swifter and brings the Masterchef vibe into it. The living room or dining room remodeling gives your family an opportunity to add to the bonding time. By merely rearranging the layouts within your home, you can smartly save a lot on storage space.
- More Rooms
Home improvement gives you an opportunity to build more rooms. A big growing family obviously needs more rooms. Instead of relocating to a bigger house, it is better to upgrade on your current one. Every family member can have their own room. There can be a room for kids’ toys; one could be a study, a gaming room for XBOX lovers, a media room for watching the World Cup matches, etc. Hosting parties or barbeque nights are now more fun. The area close to the pool is perfect for starting a barbeque. These social gatherings also give the guests a chance to look at your dream home.
- Maintenance Cost
Every house weathers over time. If not maintained well, the house starts to creak, leak and crack. The window panes might gather rust, the drainage might need an upgrade, brittle doors will need a change, with roofing and flooring also losing its sheen and shine. These repair costs altogether will cost you as much as paying for a total upgrade. Try to get a quote from a reputed architect or builder when starting with the work. This will save you time and money. In case the house is really old, the structure could pose a danger for its occupants. That is why it is important to get the house upgraded, remodeled or improved to prevent any untoward accidents.
- Lifestyle Uplift
Lifestyle plays a huge part when you upgrade your home. Your house is now the cynosure of everyone’s eyes. There can be a situation where we stop eating outside, as the kitchen now has more space and a dream to cook in. Your diet stays healthy as well. There is more social gathering at home now, instead of going out with friends. You get a chance to show your pompous self and also exhibit the grandeur of your home improvement vision.
- Resale Value
Once the home renovation is done, you know how much it is actually worth. The resale value of the property is beneficial to those you plan to relocate abroad someday or perceive the house a piece of a particular value. Whatever it is, the future is uncertain. Getting the best return for the investment you are making now is a good point of view. Many of us may not opt to sell their home someday, but a house converted into something bigger and better certainly deserves to hold a value. The social value can be measured by the people who come and appreciate the house. The monetary value is what you spend on it.