I’m planning an apartment remodel – there are few people who are not driven by this phrase. For many, repair is associated with endless work and ever-increasing spending, so starting a repair is a heroic but a little crazy. Is it possible to go through repairs with minimal damage to your psyche and bank account? Yes, because this is exactly what the consumer loan for apartment repairs serves . Read our new article on how to schedule repair expenses and borrow responsibly!
How much does a repair cost?
This is a dead end issue for those who have never repaired or repaired. The former feel that it is simply impossible to calculate the total cost, the latter know that no repair is equivalent in price to another. Repair is an activity that requires a variety of materials and work of various scales, so the cost of repair can only be calculated after consultation with a specialist.
To determine the potential costs in a very general way, you first need to consider the type of planned repair:
- cosmetic repairs – repairs include wallpaper replacement, surface painting and other cosmetic interior improvements;
- average repair – requires complete replacement of trim, flooring and communications, but no rebuilding and replacement of windows and doors;
- complete repairs – repairs that include redesign, floor alignment, window and door replacement, and make-up.
The cost of repairs is also determined by whether you order all the work from one service provider or from different craftsmen. Both options can be cost effective depending on the amount of work required. If you want to make bathroom repairs and change your living room wallpaper, individual orders from different craftsmen can cost less; if a complete repair is needed, it’s easier and cheaper to order it at one company. Note that construction and repair companies tend to charge a commission to prepare a repair estimate. Usually this amount is not large, but it is also worth adding to the total expenditure.
Check if you can afford the repairs?
Full repairs may not be cheap, but cosmetic changes can sometimes cost thousands, but does that mean that good people can afford good repairs? No, but the lower the income, the more careful the costs and the amount of work needed to be planned. A consumer loan can be a good solution for financing a repair if the borrower has a regular income, a stable job, and the ability to make even small but regular monthly payments in the long run.
Consumer Credit for Repair: Some Recommendations
Consumer credit has a wide range of uses and most lenders do not require you to state the reason for your borrowing in your credit application. On the one hand, this is good because it allows third parties not to disclose details of their private life; on the other hand, the borrower himself has to evaluate the loan amount and maturity, as credit specialists only analyze the general borrower’s solvency. Tell us how to customize a universal consumer loan for your repair needs!
Any consumer credit is inevitably associated with additional spending due to the overpayment of interest, so it is good that repairs can be partly financed by savings and partly by a loan. If this approach is not feasible due to the high cost of repairs, we recommend a longer repayment period. This will avoid unnecessary debt risks while preserving the right to fully settle with the creditor ahead of schedule .
It is important to plan in advance not only the total cost of repairs, but also the time of purchase of materials and the wages of the craftsmen. Remember that the consumer credit is transferred in full to the borrower’s bank account, and interest on the credit is charged from the date of the loan transfer. If the funds granted simply are kept in your bank account, it is neither wise nor profitable, so apply for a credit when your spending list is ready. To fine-tune your loan receipt and settlement dates, pay attention to non-bank consumer loans, which are in most cases available at the application date.
Consumer credit within 1 day
You can look for a suitable consumer loan on your own or entrust it to a specialist. Not only credit institutions, but also credit brokers work in Latvia, who cooperate with many lenders and can prepare an actual offer for the client within an hour. For example, Astro Finance broker is looking for suitable borrowing options both at banks and with non-bank lenders, so the potential borrower doesn’t have to spend valuable time himself.
But if you do not need a broker, you can select lenders’ offers yourself using our comparison charts and loan descriptions. In any case, it is worth starting your consumer credit search well before the planned repair begins – applying for a loan and getting money in the non-banking industry is quick, but comparing different offers still takes time and detail.
A consumer credit is not a prerequisite for a successful repair, but it can make things easier and quicker. If your income level allows you to borrow in the long run, consider raising co-financing to fulfill your dreams. Check out consumer credit offers on our platform and choose the most suitable option!