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Home and Kitchen Remodel Financing Options

You have determined that you should remodel your home, be it the kitchen or bedroom. You have gotten in touch with Vivant, which is a professional home renovation and remodelling company, and received the estimate of the required expenses. Your next consideration is how you are going to finance your project. These are some of the home financing options you may consider.

Personal Savings

It is a good idea to make some savings over the years, as they can come in handy during difficult times. Remodelling your home in general and kitchen in particular is an undoubtedly special undertaking. However, this does not mean that you should deplete all your savings in this endeavour.

Before you make use of your personal savings, you should make calculations in order to determine the difference between the percentage that your savings would generate in your bank account and the interest you will need to pay for a renovation loan.

In order for you to benefit by using your savings, the savings will generally need to be quite substantial in the first place.

Home Renovation Loan

You will be able to get different home financing options from many banks at quite attractive rates. However, before you take any home renovation loan, you should consider a number of things. Do you intend to sell the home within a few years? In such a case, you may find that the interest you will pay on your home loan will be more than the value added to the home.

If you expect to sell the home, therefore, you should preferably get the advice of a professional real estate agent to get an accurate estimate of the home, taking the required renovation into consideration.

Here at Vivant, we do assist our customers in applying Home renovation loan, Home loan and Home financing from our local bank like DBS bank, UOB bank, OCBC bank, Citibank Singapore, HSBC bank and Standard Chartered Bank.

Credit Card

Many home remodelling companies offer credit cards with different rates of interest. This is another home financing option that you may use for your home renovation requirements.

Vivant assures you that you will increase the value of your home significantly irrespective of the home financing option you choose when you use our products and services.