WHY SHOULD YOU OPT FOR A HOME IMPROVEMENT LOAN?

A home is not just about a roof over your head. It is much more than that.

Taking a home improvement loan is a thousand times better than borrowing a personal loan.

This home improvement loan gives you many financial benefits and tax benefits. You can avail of a home improvement loan to modify, refurbish, or renovate your home.

The prime advantage of a home improvement loan is that it allows you to upgrade your existing home to a contemporary design and a more comfortable living space, customized as per your tastes and aesthetic preferences.

These loans are similar to a house loan. While a home loan enables you to acquire a house, home improvement loans are meant for the improvement of a home that you already own.

Though there are various ways in which you can fund your home renovation using a home improvement loan. We listed down a few advantages here, let's take a look.

Lower Interest Rates:

One of the most significant advantages of securing a home improvement loan is a lower and fixed rate of interest. If you borrow a personal loan, you need to pay a higher interest rate. Besides, in a home improvement loan, you will pay a fixed rate of interest. If you calculate a lower interest rate on a higher amount for an extended period, you will save a significant amount in the long-term.

Lower EMIs:

If you have borrowed the loan on a lower rate of interest for a longer period, your EMIs will be of a lower amount. You need to pay a lower EMI every month as compared to getting a loan on a higher rate of interest. Therefore, getting a secured home loan is always the best option to stick to your monthly budget.

Minimal Documentation:

Home improvement loans entail relatively simple documentation when compared to other modes of financing. All you need is the basic documentation like identity/income proof, photographs, a property title deed, etc. If you are an existing customer of the Shubham Housing Finance, then the documentation becomes simpler.

Quick Processing:

Home improvement loans are processed quickly as the documentation is minimal and hassle-free. So you can get your renovation work started at the earliest without a long wait for your loan application to be approved.

Lesser Paper Work: A home improvement loan requires less paperwork compared to other loans. If you have already taken a home loan from Shubham housing development Finance company, then the company only conduct physical verification of the property before approving the loan.

Flexibility to use:

With a Home Improvement loan, you can use it to extend one room or two or extend the covered area of your home. If you managed to save money from this renovation and extension work, you could use this money for adding new cabinets in your room or improving your kitchen doors and cabinets. This kind of secured loan offers you flexibility as well as the freedom to use it for various improvements work.

With Shubham Housing Development Finance Company, you can get a hassle-free home improvement loans. Also, you can upgrade your existing home to a contemporary design and a more comfortable living space. The tax deductions that come along with this loan add to the benefits. Go ahead; give your home the shape that your heart desires.