Home Renovation Loan: Don’t Cut Corners, Spend Now Save Later!

Have you ever heard the saying, “ Home is where the heart is "! This place called home is the building block of an individual’s life. To constantly build memories, for maintenance and upkeep of your premises, one has to fund interior changes, upholstery restoration, paint jobs and the list is endless.

Once you have decided to renovate your house to breathe a new life into its aesthetics and improve its longevity. It is important to plan and allocate funds in a proper manner without compromising and cutting any corners.

Why home improvement, you may ask. Think about this: when real estate prices are escalating, the value of a refurbished property appreciates by a substantial margin as compared to a neglected. By renovating the property, you are in effect making an investment that will save you the trouble of future repairs which could prove even more costly with every passing year.

To begin the renovation, you can either dip into your savings, which is not a great idea, or you could take a Personal Loan for home renovation.

Do you think cutting corners is a bad idea?

Renovation may seem like a pricey business, it is understandable that the thought of cutting corners arises to save money – especially on permits and taxes. But if you do a risk-versus-reward analysis, it doesn’t seem like a particularly attractive proposition. With the availability of home renovation loans, the question to cut corners just does not arise.

Let’s look at some of the top reasons for renovating your home :

  • To increase your comfort or enjoyment of the home.

    Although there are many good reasons to renovate your home, your own comfort and enjoyment are important factors that shouldn’t be overlooked. With the assistance of a home renovation loan, you can increase your comfort and enjoy your home to the fullest to pay off all the incurred expenses.
  • A solution to a safety issue.

    Some home renovation projects just can’t be put off. Electrical problems, cracks in the walls, broken tiles, an unrecognised kitchen model cannot guarantee your safety or an illegal balcony modification will not protect you against a tragic collapse.
  • To improve the home’s value for future sale 

    Home improvement loans provide great relief when you have to renovate and refurbish your home if you plan to sell it within the next few years. You may want to renovate it keeping up with the latest trends to upgrade its value and by enhancing it with state of the art technology. All the finer things in life come at a price and to afford that price a home renovation loan is your greatest backing.
  • Insurance risks of unauthorised projects: 

    In the event of any damage to your property, caused either by a natural or man-made disaster, your insurer isn’t liable to provide cover if your house has unauthorised additions or alterations.
  • Malfunctions: 

    Let’s assume you have installed a new unlicensed kitchen model and now the circuit breaker of your refrigerator trips every time you switch on your toaster. The inconvenience and irritation caused by such failures outweigh the money you save when you cut corners while renovating. The best solution to these malfunctions is home improvement loans for renovation.
  • Peace of mind

    Adhering to inspection norms and government permits will offer you peace of mind that cutting corners will not. Nowadays these permits don’t come cheap and with constant price fluctuations , you  are taken care off with the funds provided by a home renovation loan.

Spend now, save later

Is a lack of funds preventing you from redoing your house?  Are you contemplating on the shortcomings of the home improvement loans available?

There’s no reason to worry. If you want to renovate your house, choose a Personal Loan without worrying about how you’re going to finance your renovation plans.

HDFC Bank Personal Loan  comes to you in your time of need, with an attractive interest rate. It also takes care of any unexpected expenses that may crop up during renovation (say, having to redo the plumbing while fixing a leak in the bathroom). While existing customers of HDFC Bank can avail of the loan in less than 10 seconds*, others need only wait for 3-4 hours for approval*.

Renovate your home in style

If you’re planning to spruce up or renovate your home, cutting corners should not even be an option. Prepare well in advance, select the best time of the year to renovate your house ,  learn how and when to negotiate, compare prices, and decide wisely what to spend or save on, consult a professional if need be . These tips will help you keep your budget in check without comprising on aesthetics or utility.

So do you think a Home Loan for the renovation of  house is a good idea?

With a quick-and-easy loan from HDFC Bank, you can renovate your home now and pay later!

Looking to apply for a Personal Loan? Click here to get started!

* Terms & conditions apply. Personal Loan disbursal at sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.