A home renovation is a good investment for everyone in Singapore. It increases comfort, boosts overall livability, lowers utility expenses, reduces unnecessary maintenance cost, and improves lifestyle.
A properly renovated residential property can also raise its resale value. Since it’s free of repair issues, it has an aesthetic appeal, which in turn can catch a buyer’s interest although you don’t have plans to sell it.
However, some leave a house repair problem unattended for months because of the cost.
Studies show that faulty electrical wiring or inefficient plumbing can lead to unnecessary expenses over time. So, early inspection or remodeling is critical.
As a homeowner, you’re facing different expenses, from utility bills, tuition fees, groceries to medications.
Of course, it’s normal to postpone the remodeling or repair. But did you know that late property maintenance could mean high expenditures?
You probably don’t have immediate cash on hand. Good news! Why not apply for a Singaporean loan?
Yes, funding options are not only for a business expansion. In fact, it can be used for renovation purposes.
Which is better between applying for a loan and borrowing money from a relative?
Singaporeans prefer asking help from their family and close friends. But nothing can beat the advantage of working with a certified lender.
Is there a Loan Limit?
A reno loan Singapore has a fair and reliable financing amount. Depending on the needs of your property, you can expect a good amount of loan.
That’s why it is advisable to discuss your situation to a moneylender ahead of time. So, you can get enough amount of Reno funding to cover repair, maintenance, or remodeling.
What is the Flexibility of Spending?
While a personal loan can be used at your discretion, renovation financial program is different.
In fact, it can only be used throughout construction and repair. Before applying for a Singaporean loan, assess your purpose. Not only can it save your time, but it can also protect your credit score in due course.
Where can you Use a Financing Solution?
A personal loan is flexible. Aside from paying off your debts, you can use it for business purposes.
However, a home renovation loan is subjected to specific areas where you can spend the fund.
Whether you have an electrical work or bathroom installation, the application process will be easy.
Projects that deal with built-in cabinets, flooring, and painting also have a higher chance of quick approval.
Pay Your Contractor according to the Progress
Have you been renovating your home for years now? Perhaps, you had experienced paying a contractor before a service started.
Or they did not come back on the second week. In order to protect you from such incidents, pay them according to what they have finished for your peace of mind.
So, it’s not an excuse when you don’t have cash for a remodeling project.
Aside from business purposes, a loan in Singapore can serve as your finances to complete your residential property, fix repair issues, and boost safety.