House renovation is always a matter of huge headache and expenditure too. But in no way we can stop the renovation or maintenance work of home as this will affect the overall if not treated in time condition of the house. Most of the time we do not want to make the expenditure from our savings and wish to go for having loan from banks. If you are in Singapore then you can get loan for renovation within $10000 to $30000. The rate of interest also varies between 3% to 6% and you can repay the loan amount within five years. When you decide to make an application for renovation loan then first attempt to speak to the representatives of the bank from which you already availed loan for buying or construction of the house. This will make the process bit fast for you as that particular bank will be well aware of your property details. Well, before you opt for Renovation Loan Singapore you need to pay attention towards the following matters.
No increment in the rental income: If you have rented your property and if you feel that the rental income of your house will go rise as soon as you will start renovating your house by taking loan then you are totally in misconception.
Not to opt for highest loan amount: The contractors and designers will suggest you to huge renovation work for which you will need to take highest amount of loan. But, without being tempted you should go for that amount of loan which you can repay smoothly
Loan for furnishing: You will also need loans for doing proper furnishing within your house and for which you will also need loan from banks.
Apart from those above, you should opt for only that amount loan which you can repay on time.