Borrow for your renovation
We also once looked for a loan to renovate. And we must admit to you, it is not easy to find a good loan for that. Especially since it is a relatively small amount in our case. What did we pay attention to with the financing? And how could you handle this when it comes to a renovation loan?
Borrow for renovation
With us it is convenient to take out the loan in 3 steps. Below we have listed them for you. With the renovation, we did not need the entire amount in one go. This can of course be very different for you.
Borrowing for renovation from your own experience
The above was a good option for us. Yet there was one major drawback, which gave us a lot of calculations. Because we did not directly take out the loan as a personal loan, the interest we paid was not tax deductible according to our tax adviser. There are rules for the tax advantage of being able to settle the interest. The construction that we have done from our own experience did not meet this requirement.
We therefore recommend that you read this section carefully beforehand so that you know where you stand at all times.