Fast-track projects with a home renovation loan

Whether it’s new furnishings or a full kitchen revamp – renovations can help turn a property into a dream home.

While some renovation projects can be a sizable undertaking, using a personal loan for home improvement purposes could help you get your plans underway.

Let’s take a closer look at loans for renovations.

The advantages of home renovations

Home improvement projects can enhance both the look and functionality of a home, making it more enjoyable and comfortable to live in.

Upgrades such as installing solar panels could potentially lower power bills by making the property more energy efficient.

Some home improvements could increase the value of the property and make it more attractive to potential buyers if you decide to sell in the future.

What is a home renovation loan?

A home renovation loan is a personal loan designed to cover the expenses related to your home improvement project.

You apply for the amount you need and choose a repayment term that works with your budget, making it a flexible option to fund your plans.

Once your application is approved, you receive a lump sum directly into your account which can be used to cover various costs as needed.

Why use a personal loan for renovations?

Instead of delaying projects until you have the required funds saved, a personal loan could help you start sooner. It means you can avoid dipping into savings, ensuring funds are available for any unexpected expenses.

Lenders like Liberty offer secured and unsecured personal loans with options of three, five, and seven year terms. You can then spread the expenses over the term period, with fixed repayments helping to make budgeting easier.

Applying for a home improvement loan is a fast process, with online application and quick turnaround times. If your application is approved and you accept the loan terms, the funds are provided quickly – sometimes even on the same day.

What can I use a home renovation loan for?

Whether you’re looking to make essential or cosmetic property changes, a personal loan could help cover the costs of labour, building materials, fixtures, appliances, and other related expenses.

Some of the renovation projects it could help you to fund include:

• Room additions

• Kitchen overhauls

• Bathroom makeovers

• Decking for outdoor entertaining

• New furniture, lighting, and décor

• Energy efficiency measures such as solar

Helping you bring projects to life

If you want to move forward with your project using a home renovation loan, it’s a good idea to first create a clear plan of what it will involve, including the end goal and estimated costs. This might involve sourcing contractors or comparing material and labour quotes.

At Liberty, we can help homeowners secure fast access to funds to turn dream projects into reality. Try our online personalised rate estimate tool to explore what rate could apply to your situation. Checking this rate will not impact your credit score.

Keen to get your project underway? Discover our flexible home renovation loan options and get your rate here.