When you want to change your home, it’s time to look at how you’re going to pay for it. When there is not enough money in the savings account, it is wise to opt for a loan or financing.
When renovating, you could best look at a mortgage. Sometimes, however, this is not the easiest, despite the lower interest rates. Let’s see what’s possible!
What do you want to grow
We would like to first map what you dream of. What would you like to renovate? Is it the bathroom, the toilet, the kitchen or do you want to make the living room bigger? Maybe you want to realize a carport or garage or a dormer on your roof. There are so many different options for realizing the renovation. If you are handy yourself you can do it yourself. If you are less useful or have less time, you can call in a contractor. The contractor or the construction company can then do the whole job for you. It is nice to let your dreams come true. Who is going to finance everything?
A loan for your renovation
The easiest thing is to get a loan from a bank. You have often been a customer for many years and they know your financial position. Your salary comes in and they have never taken a dime out of it. It is good to start by exploring your options here. Of course you can also go to an intermediary. There you often have more choice. The chance of a lower interest rate is somewhat higher here.
A loan or a mortgage?
The biggest issue is often whether you have to take out a mortgage or take out a loan. It is smart to look at the possibilities. Choose a mortgage if you do not have to go to the notary again. When you have to do this, it is wise to see if you can switch the entire mortgage to NHG. In addition to lower interest rates, it offers many more options and extras. It is nice to use this.
However, if you have to go to the civil-law notary and do not want an NHG or you can not get this, it is wise to take a loan. You can then make a saving by not going to the notary and not having a valuation done. Certainly at a low price this can be a good option. A dormer window currently only costs 5000 euros. A difference in the interest rate of a loan or mortgage can be 3 percent. It is 150 euros per year. When a valuation and a notary costs you 900 euros you have 6 years to redeem it. The tax advantage will also be higher with higher interest rates. You will definitely get a bonus year for this!
Choose wisely and rebuild wisely. By ensuring reliable partners in the construction industry (actually renovate) and in the money you get a successful renovation.