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Personal Loans: The Best Way to Finance Your House Renovation
by Arwind Sharma on June 28, 2017

A house having a good look and feel, attracts all. It might happen many-a-times that you visit the house of your friend or a relative and feel like revisiting only because they have a good house interior. No one likes visiting a house which has does not give you good vibes.

A good house interior can make a person relax from his stress after coming from a long day at work. All wish to have a house with a perfect interior and exterior which they may call their dream house. Having a beautiful lawn outside your house would be so relaxing and also fun when you have friends and family coming over.

Everyone desires having a beautiful home and a beautiful home is not possible without having a beautiful house interior. Your house interior is the most important part of your house. Now getting an interior done can be costly. Especially if you want to hire a professional interior designer. Now, these interior designers may really cost you a lot. Designing your interior may also bring you expenses like repainting your house, replacing the old furniture, changing your electricity connection or repairing it, etc.

 

If you want to skip some expenses of décor then you can also do it yourself (DIY). Many people just DIY the old furniture’s by repainting it or attaching new knobs to it. This saves that extra cost. You can also DIY the décor items if you not wish to buy them. This will give the house your personal touch as well as save your disposable income. But if you are not good at creating something you can definitely buy them.

 

Now if you are really planning for an interior designer who will renovate your house then yes this is going to cost a lot and you definitely should not spend your savings totally on this. Instead, you can go for a personal loan for home improvement. Having a personal loan can make financing your house renovation a bit easy and a less stressing. By borrowing a loan you don’t have to pay attention to renovation finance but only on the interior designs.

The personal loan interest rates usually are high. But after the announcement of PM Modi in the year 2017, the interest rates have been discounted. The interest rates in the urban area are discounted by 4% for a loan amount of about 9 lakh and 3% for up to 12 lakh loan amount. Whereas, the interest rate in rural area is discounted by 3% for a loan up to 2 lakh. This is the discounted interest rates if you wish to go for a personal loan for home improvement.

 

Renovating your house can also give you higher returns if you wish to sell it in future. Also, a good renovation will last for long and you will be able to avoid renovation for some time. Renovating your house, again and again, may cost you a lot as it might involve your time, cost and energy. By renovating your house you can experience the feel of the new house, without spending a lot.

Personal loans for home improvement can give you an interior of your choice without compromising your needs for the house. You can also pay the Personal Loan EMIs by selling the old furniture if they still are in good conditions also many decorative items could be sold if you wish to replace them. These all tips can help you to manage cost during renovations.


 

 

 

 


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