Help Center
Locate us
What No One Tells You About Renovating an Old Family Home
Experience the all-new Kotak Netbanking
Simpler, smarter & more intuitive than ever before
Popular Products
Show More
Quick Help
Show More
Frequently Asked Questions
Show More
For Kotak Bank Customers
For Kotak811 Customers
Experience the all-new Kotak Netbanking Lite
Simpler, smarter & more intuitive than ever before. Now accessible on your mobile phone!
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
Success
Failure
One can easily fall in love with the charm of a historic family home for its remarkable character and architecture. However, at times, even such enchanting homes demand additional love. It could be fixing the electrical wiring, replacing furniture, or adding some spacious wardrobes– anything that enhances appeal or adds to the functionality of your place.
But you must know that renovating an old family home comes with several challenges and things that no one tells you about, but this article definitely will.
Things to Know Before Renovating Your Old Family Home
For any home renovation, it is essential to plan before you start. Whether planning to renovate your old home with a professional crew or yourself, here are some of the things that you must be aware of:
Update to energy-efficient
In several cases, renovating old homes focuses on enhancing the energy efficiency of the buildings. Proper insulation, HVAC, solar panels, LED lighting, and smart home automation systems were not available in the old days. Hence, updating the efficiency of your home is a great way to enhance its functionality and aesthetics.
Install new doors and windows
When renovating an old home, replacing the windows and doors with quality upgraded ones is the major demand. You must opt more durable and functional doors and windows while considering the aesthetics.
Collaborate with professionals
Several homeowners might try to renovate their old homes, but most of them end up making bad decisions and quitting half the way. Skilled labours matter more than you think when it comes to restoring old wooden beams, flooring, and doors or replicating traditional designs.
Hidden costs can sneak up anytime
While renovating an old home, there are multiple unforeseen problems that you might be unaware of. Renovation budgets can quickly escalate due of damaged areas, foundation repairs, plumbing andrepairs . Therefore, ensure to consider all this while you plan the budget for your old home renovation.
Why Opt for a Personal Loan for Home Renovation?
Even though there are multiple ways through which you can fund your home renovation, choosing a loan comes with multiple advantages, making it attractive and preferable:
Minimal documentation
A Personal Loan comes with a simple documentation process as compared to other financing options. You only need to go through basic documentation. This includes photographs, income proof, identity proof, In addition, loan providers further simplify the documentation process for existing customers.
Instant processing
The process of applying for a Kotak Personal Loan is quick and hassle-free. Plus, the documentation is minimal. Hence, you can start your renovation as soon as possible without waiting for days for your loan application approval.
Usage flexibility
You can utilise the loan for multiple renovation activities, such as repairs, extensions, flooring, renovation, and painting. Hence, you can use the loan to fulfil diversified renovation needs.
Lower rates of interest
Banks provide low-interest Personal Loans, making the renovation process lighter on your pocket. With Kotak Mahindra Bank, you benefit from Personal Loan interest rates starting from 10.99% per annum.
Summing up
Living in your old family home is like a dream come true. However, diving into its renovation is nothing less than a nightmare if not handled smartly and professionally. Mentioned above are some of the crucial points that you must keep in mind while planning the renovation of an old building for a smooth process.
In addition, you can always apply for instant Personal Loan at Kotak Mahindra Bank to get quick financial assistance for home renovations.
You have already rated this article
OK