Home improvement enables you to make the best of your home. The list is endless, from quirking up your garden and rebuilding your kitchen or bathrooms, to converting your attic into an art room and adding energy-efficient elements.
Truth be told, home improvement ventures can prove to be expensive – financing your renovation project out of your pocket can disturb your financial balance. If you’re planning to add environment-friendly changes to your home, you could use home improvement loans to fund your venture.
Read on to find out ways to convert to green home by adding energy-efficient elements to your house. How can you fund your green homes venture? Find out here.
Making energy-efficient home during COVID-19
The pandemic has changed people’s perspective towards the world around them. As we become one with our environments, we want to embrace the concept of green homes. Home improvement will help us accommodate these changes into our everyday lives.
How to finance your green home project
- Home improvement loan:
A home improvement loan is an unsecured personal loan to help you finance a refurbishment project. You may qualify for competitive interest rates with a good credit score. Home improvement loans allow you to renovate your home by spreading the renovation cost into affordable monthly instalments over a fixed period. Visit LoanTube to find your ideal improvement loan, right from the comfort of your home.
- HELOC:
A HELOC or Home Equity Line of Credit. HELOC is a secured credit using which you canborrow revolving credit against your equity in a home. Herein, lenders set a borrowing limit based on your equity. You can borrow and use this money at your discretion. You’ll only have to pay interest for the money that you use.
- Mortgage refinance:
A Mortgage refinancing allows you to replace your existing mortgage with a new and better offer. All your repayments help in building your credit score. If you’ve religiously been paying down your mortgage, it is likely for your credit score to have improved. With refinancing, you can qualify for a new mortgage with better interest rates. If you borrow an amount more that your outstanding mortgage balance, you can use proceeds to accommodate renovation costs.
- Green Homes Grant scheme:
The UK government rolled out the Green Homes Grant scheme for homeowners and landlords in England. It is a financial voucher that homeowners can avail to make energy-efficient improvements to their property. You must redeem the voucher and complete the upgrade by 31 March 2022. Check your eligibility by completing this Simple Energy Advice Questionnaire.
How to make my home energy efficient?
Here are some energy-efficient changes that you can make to turn your home into a green home:
- Implement double glazing on windows and doors. (Increase in value – +10%)
- Install cavity wall insulation.(Increase in value – +6.4%)
- Insulate your roof.
- Add a biomass boiler.(Increase in value – +3.2%)
- Install smart thermostat.
- Install LED lighting throughout your house.
- Add solar panels to your roof. (Increase in value – +14%)
What are the advantages of green home-building?
- Cut water and energy bills with energy-efficient systems.
- Save on maintenance cost with high-quality green-building materials.
- Thrive in a healthy indoor environment within your green home.
- Do your bit for the environment by reducing your carbon footprint.
- Benefit from a considerable rise in the market value of your property.
Conclusion
Home improvement loans can be a great way to aid your refurbishment project. Make your home an eco-friendly haven and cut down on unnecessary costs.
Make your home improvement ideas a reality with LoanTube – compare loan offers with real interest rates from multiple lenders. Find your ideal loan at the click of a button.
