Renovation loan – ideal for repair work

A newly renovated apartment has something in it for itself: beautiful new laminate and freshly painted walls give a much better sense of living – if there were not the costs associated with it. Even if you currently do not have the money on the high edge to enjoy the new sense of well-being, you do not have to do without it. Because banks give renovation loans, with which tenants and homeowners can make their home more beautiful. For loans for renovations, however, there is some differentiation.

The differences between the renovation loans

If you want to take out a loan for the renovation and you are a tenant, you can choose from various installment loan offers. These are suitable for a suitable investment because they can be used freely in the rule. Whether small painting or extensive repairs in the apartment: the renovation loan can be for amounts from 5,000 euros accommodate -at some money houses are among possible sums.

Do you mind homeowner, you stand next to the installment loan and another financing available. For example, some banks offer so-called modernization loans, which can be used to pay for larger work on the home. With this renovation loan, you can finance an energetic refurbishment, a new heating system or other minor refurbishment work – some banks even forgo this registration on the land register, which means extra savings for you. As a homeowner, you can also use offers from the State Development Bank KfW. With this institute, you receive particularly favorable conditions.

Use installment loans for minor renovations

Whether homeowner or not: For smaller jobs that do not devour large sums, an installment loan is usually the better financing. Purple can help you get connected to a direct lender. For this, you do not have to deposit additional collateral with the bank, and you will be credited with the credit, if you apply for it online, within a few days. Apply for the renovation loan via our comparison calculator – so you can still inform yourself about the current interest rates, compare them and opt for a low-cost offer.

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