Loan for bathroom renovation – How to get a loan

A modernization or renovation of a bathroom can quickly cost several thousand dollars. Tiles, fittings, as well as sinks and bathtubs made of high quality materials have a long lifespan, but can also be very expensive. A loan for a bathroom renovation can be obtained from many banks and credit institutions. Direct banks on the Internet also offer loans for renovations.

The loan amount can be determined with the offers of the craftsmen

The loan amount can be determined with the offers of the craftsmen

Especially when real estate is getting old, numerous renovations are often necessary. A room like the bathroom is used several times a day by all family members. New ceramics, tiles and fittings not only look good, they can also save energy costs. Furthermore, the property experiences an increase in value through regular renovations. Since bathroom renovation can be expensive, property owners should get offers from various craft businesses. These offers also serve to determine the required financial resources.

If the renovation is not subsidized by the state because it does not meet the eligibility criteria, the loan for the bathroom renovation should be chosen by a cheap provider.

A current loan can be increased for bathroom renovation

A current loan can be increased for bathroom renovation

Real estate owners can also get a loan for a bathroom renovation online. Direct banks on the Internet are happy to provide loans with a good credit rating and positive Credit Bureau information. Since the direct banks do not have any consulting costs and sometimes also the account management fees, the online loans are generally much cheaper than loans from the house bank or from branch banks. If the property has not yet been paid off, property owners can, in consultation with the financing bank, top up the ongoing financing with the costs of the renovation.

The bank advisor, in cooperation with the borrower, should determine exactly whether this is worthwhile. In many cases, a separate bathroom renovation loan can be cheaper than topping up the current loan. It should also be taken into account that barrier-reducing measures in the housing stock, repair measures for renovation, repair and the rectification of structural defects are eligible. The same applies to structural measures to improve the utility value.

Tenants can also renovate a bathroom at their own expense

Tenants can also renovate a bathroom at their own expense

If you want to renovate a bathroom as a tenant, you should definitely protect yourself. Renovations that affect the bathroom are primarily the responsibility of the landlord. Structural changes must therefore be discussed and also recorded in the contract. Construction measures may be carried out in the apartment if the furnishings no longer meet the usual standards. For example, if the leased item does not have a bathroom, the bathroom can also be installed at the renter’s expense. The tenant thus protects himself against rent increases. Despite the increase in the living value, the landlord may not charge a higher rent.