Are you fed up with living in the same “four walls”? You don’t have to move out to change something. Sometimes it is enough to refresh the apartment to feel better in your own four corners. Paint in an interesting shade, original tiles, several decorative elements and an idea for a new interior will allow you to redefine the space in which you live. But do you know how much a renovation costs?
At the beginning of this year, Mags portal prepared a report on the renovation plans of Poles. The report shows that 25% of Poles want to spend nearly USD 30,000 on modernizing living quarters. Is that a lot or a little? – you will ask. We answer: it depends. A major renovation requires more money. And small? Small can also cost a lot.
The cost of renovation depends, among others, on:
- the quality and price of the materials you use,
- prices for renting the repair crew,
- duration of renovation,
- the tools you decide to use,
- the number of rooms to be renovated,
- degree of renovation.
Costs can always be reduced, but it’s not always worth it. Therefore, renovation can take a lot of money.
Renovation loan. Where to take her
Fortunately, installment loans are available on the financial market to help you finish refreshing your interior without any problems. Here are 5 companies that offer a loan of up to USD 10,000 for 24 months.
- Prida – a small installment and low total cost of the loan are the advantages of entering into a renovation commitment in this company. The lender encourages positive opinions and the possibility of borrowing with a guarantor – for people with bad credit history.
- Cryobank – offers a loan with a slightly higher monthly installment and a slightly larger total amount to be repaid than Prida. What might interest you? The lender with Scandinavian roots attaches great importance to corporate social responsibility – he is the initiator of the nationwide social and educational campaign “Aasy Net – let’s be closer” for women between 45 and 70 years of age.
- Ultramoney – new customers who incur a liability of USD 1,000 to 10,000 and then pay it voluntarily and in one installment within the first 30 days can count on a promotional discount, which is APRC 0%. What does it mean? That by borrowing USD 10,000 for renovation, you can donate the same amount by meeting the promotion conditions.
- pl – the lender offers coupons for the loan application in installments for the largest clothing networks with a discount of up to 80%. The monthly installment of the 10,000 USD loan is nearly 750 USD.
- pl – offers an installment loan with the same parameters as Ratkomat. So what makes this offer different? The lender advertises on the website the idea of responsible borrowing, which makes customers feel completely safe.
How to choose a loan for renovation?
A renovation loan is a product that requires some attention. To choose a lender well, look at the following criteria.
- Is the loan amount sufficient for renovation? The commitment should cover the cost of refreshing the interior.
- Is the loan price right? The cost of installment loans will not always be 0 USD. Analyze if the offer in question the lender is within your financial reach.
- Is it possible to pay in installments? Renovation can cost you a lot, so make sure you borrow the right amount of installments and don’t overburden your home budget.
- Can you afford a monthly installment? When applying for a loan, use the calculator that calculates the monthly installments and see if you can handle the increased expenses every month.
- Does the lender charge additional fees? The company where you apply for a loan may charge you, for example, administrative or preparation fees. There is nothing wrong with this, but make sure you know what and how much you pay for.
- How long is the repayment period? Break down the loan into installments that are convenient for you. Always take into account the state of your portfolio in the long run, because more installments do not always mean a better offer.
When choosing a “perfect” loan, follow the basic criteria and common sense. Remember to check at each stage how much the offer is calculated for you. And remember – the fact that one lender rejects your application does not delete you from other lenders.