If you just need to change the tiles, you can save up and not pay interest to the bank. But if the bathroom needs major changes (replacing plumbing, remodeling, waterproofing), it is worth considering a loan. After all, plumbing quickly becomes more expensive, and repair work in the bathroom cannot be stretched out for a long time.
Renovate the kitchen
A good and expensive kitchen renovation is an investment in the future. The more you spend now, the longer you will not remember it in the coming years. You need to choose high-quality furniture, equipment, finishing materials and work surfaces so that they do not wear out for a long time and retain a presentable appearance. Therefore, lending is a profitable option if you need to renovate the kitchen. It helps to do all the work quickly and not save on materials.
Renovate the room
If you do not plan to remodel the room, you can renovate it list of mobile number database using your savings. The amounts are usually not very large. To be on the safe side, it is worth having a credit card. It allows you to buy additional materials so that the renovation work does not drag on. At the same time, you do not have to pay interest if you return the funds to the card before the end of the grace period.
Before taking out a loan, you need to go through two preparatory stages:
calculate the cost of repair work;
choose the best lending conditions.
When calculating the cost, you need to find out the market prices of all materials and determine as accurately as possible how many you will need. If you plan to hire contractors, you should contact them in advance. Many companies offer turnkey repairs and buy everything they need themselves. They most likely will not be able to name the full cost, but they will orient you in approximate figures.
If you do the work yourself, then after the calculations add 10-15% to the resulting amount. Some materials will have to be purchased in the process, and the prices of some goods may change. If in the end you do not spend the entire loan amount, the remaining funds can be used for partial early repayment. This will help reduce the monthly payment or the loan term.
Once you have decided on the amount, use a loan calculator to find the best terms. Compare monthly payments for different terms and choose the one that will put the best strain on your budget.
Before submitting an application, it is worth assessing the likelihood of its approval. To do this, calculate the current debt burden and add payments on the new loan to it. If payments on all loans are more than 50% of the monthly income, the bank will not be able to make a positive decision. There are legal restrictions on this. Therefore, first you need to close some of the loans or combine them into one using refinancing. It allows you to reduce the interest rate, reduce the monthly payment, and the debt burden indicator becomes lower.