It is often cheaper to increase your mortgage for a renovation than to take out a personal loan for it. The mortgage interest is usually lower than the interest on a personal loan. Can you prove that your house has increased in value and that you have equity? Then you can usually increase your mortgage.

Step 1: Inventory And Plan:

After a period of gaining inspiration, collecting ideas, and brainstorming, it is time to start planning your renovation. Whether the renovation is large or small; A successful renovation or renovation of a house starts with a good plan. In any case, consider the following when preparing: After a period of gaining inspiration, collecting ideas, and brainstorming, it is time to start planning your renovation. 

What do you want to renovate, improve, or renew your home? Do you want more square meters or a different layout?

Obtain information from various contractors or construction companies about their products and working methods.

  • Get inspiration from renovations in similar homes.
  • Consider whether and how the renovation will affect the rest of the house.
  • Make an estimate of the money you will need for the renovation.
  • Will it be a major renovation? Then consider hiring an (interior) architect.

Step 2: Sustainable Renovation:

If you are going to remodel or renovate your home, you may want to consider including energy-saving measures in your plan that will help you conserve the energy you generate. For example, think of:

If you are going to rebuild or renovate, you can consider including energy-saving measures in your plan:

  • Placing solar panels
  • A heat pump
  • Insulating glass
  • Insulating frames
  • Cavity wall insulation

If you are going to renovate your home, it is sometimes possible to qualify for subsidies in your municipality or to finance the energy-saving measures in your mortgage. By making your home more sustainable, you may not only save on your energy costs but you often also improve the living climate in your home (in terms of temperature and noise) and you contribute to a better environment. In addition, you invest in your home, which may increase its value.

Step 3: What Is Your Budget?

Have you made a plan for your renovation? Then it is important to investigate what you can finance and how you want to do this. Is the renovation an investment in your home – which increases the value – or does it mainly increase your own living pleasure? An appraiser can tell you whether the value of your home will increase after your renovation and by what amount. In an exploratory meeting, a contractor can estimate the costs of the renovation that you have in mind. It is wise to always take extra costs into account so that you are not faced with surprises if unexpected extra work is required during the renovation. You can draw up a financial plan for this.

General Remodeling

Step 4: Finance Home Remodeling:

There are various options for financing a renovation. For example, you can pay for a renovation with savings, an extra mortgage, or a personal loan. An advisor can help you make a choice that suits your situation and renovation. At BLG Women you can, for example, make use of the Renovation Scheme.

Step 5: Looking For A Contractor

Once the plan for your renovation has been established and you have researched the financing options, it is time to look for a contractor who can carry out the renovation for you. Take your time to compare different contractors. Ask family, friends, and acquaintances which contractor they have had good experiences with and request quotes to compare. This is the only way to get a good idea of ​​the possible costs. Please note the following points:

  • Take time to compare different contractors and offers.
  • the description of the activities
  • the materials to be used
  • the price per part
  • the price per provisional item (if the exact price of the part of the work cannot yet be determined)
  • the start date of the work
  • the time the contractor needs to carry out the renovation

Is there a lot of price difference between the quotations you have requested? Then ask for an explanation. Do not forget to ask about the agreements regarding the warranty, payment conditions, and references. Preferably choose a contractor who is affiliated with a trade association, but make your final choice for a contractor based on your feeling, price, and quality.