QV Credit Renovation Loan Singapore
Best Renovation Loans; Flexible and Affordable
A house should be a home, even when there’s no one sitting there.
We all want to come back after a tiring day at work to a place of comfort. We want to come back to a space that we can call our own, one that we are proud of. We pour over countless interior design magazines or scouring Pinterest for dream house inspiration. Well, you can make that a reality with loans for home improvements!
More Singaporeans are renovating their homes to make it more beautiful, or simply to increase the house’s resale value. Everyone has their own ideas of what their dream house is, whether it be a tiled bathroom, pretty new furnishings, or new carpentry work. Or maybe you just want to redo a certain element of the house that is old and needs repair.
However, we all know renovation loans for home improvement do not come cheap. A typical renovation job in Singapore costs at least $30,000. If you want high-quality materials or special furniture, you might even spend up to $100,000. That is a lot of money. It’s not an easy amount to save up for, and neither do you want to take out such a large sum from your savings. This is where a QV Credit’s Renovation Loan comes in!
What is a Renovation Loan?
A renovation loan in Singapore is a loan for home improvement. This money can be used for:
A renovation loan Singapore is ideal as you probably don’t have $50,000 readily available. Instead of exhausting your savings and spending it all on a home renovation, it would be wiser to consider taking up a renovation loan. It will ease your financial burden, and more importantly, ensures the savings you have set aside can be used for future emergencies or more pertinent situations.
Am I Eligible for Renovation Loans?
As this is a rather large sum of money, you should make sure you are committed and set on a renovation before taking on a loan. There are some requirements you will need to meet before applying for a renovation loan in Singapore. These are:
You can borrow up to 6 times your income, but this figure is subject to each individual.
Benefits of a Renovation Loan
Taking a Renovation Loan is Cost-Effective
While a personal loan is more flexible than a renovation loan and is also unsecured, these benefits come at higher interest rates. The repayment rates will be much higher than taking a customized renovation loan. QV Credit wants you to have your dream home, and that is why we keep our interest rates low for a home renovation loan.
A Renovation Loan has Longer Tenures and Repayment Plans.
Renovation loans have a longer loan tenure than personal loans. A renovation loan tenure starts from 1 year and can go up to 5 years. This way, your repayment installment can be spread over a longer time period, hence making it more comfortable for you.
A Renovation Loan can Help Boost Your ROI (Return On Investment)
Taking up a renovation loan will give you the funds needed to make the renovation possible. You can also invest enough cash to ensure that the renovation is done well. This will boost your home’s value and ROI in the long-term if you ever decide to sell your home.
You Get Your Dream Home
Above all, the greatest benefit is really just getting that home you’ve always dreamed about. Having a home you are proud of is also important for you and your family’s happiness, so you’ll be making yourself and your loved ones happy by finally getting that dream house!
How Much Can I Expect a Renovation Loan to Be?
There are many factors to consider when taking up a renovation loan, and you should take all of these into account in your budget. The type of housing and level of renovation will largely determine the cost. As a gauge, the average cost of a renovation for a HDB flat in Singapore is $53,000. These are the other factors when considering a loan for home improvements:
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Why Should I Take a Renovation Loan with QV Credit?
QV Credit’s renovation loans are less costly than home equity or a personal loan. Our Renovation packages are customized for renovation projects; hence the loan tenures are longer and interest rates are lower. We are committed to making your dream house come true, and hence our packages are flexible and customizable to suit your renovation needs! We will work out a repayment scheme that is comfortable for you.
What’s more, QV Credit’s Renovation Loan application process is easy and quick. This is how the loan process works:
QV Credit only takes your personal documents in person as we know your data is important. We will keep these protected and confidential. We are also a licensed and legal moneylender and follow the rules set by the Moneylenders’ Act. Our clients are of utmost importance and hence we keep everything transparent and explain all terms and conditions clear. We will not impose unrealistic monthly repayment schedules, No hidden fees or surprises. We know that renovating your home is a stressful project, hence we want to make at least the funding part stress-free.
Additional Tips for Taking a Renovation Loan
Here are some additional tips when undertaking a renovation loan in Singapore!
With all the information above, you are ready to take on a Renovation Loan! As you can see, the process is simple and quick, and it will allow you to fulfill your dreams!