{"id":5500,"date":"2020-01-10T09:29:42","date_gmt":"2020-01-10T09:29:42","guid":{"rendered":"\/blog\/?p=5500"},"modified":"2023-12-20T19:31:45","modified_gmt":"2023-12-20T14:01:45","slug":"personal-loan-can-now-help-you-increase-your-home-value","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/personal-loan-can-now-help-you-increase-your-home-value\/","title":{"rendered":"Personal Loan can now help you increase your home value"},"content":{"rendered":"\n<p><strong>How can you use a personal loan to increase\nyour home&#8217;s value?<\/strong><\/p>\n\n\n\n<p>In India owning a home is an avowed desire and people try to acquire at least one home during their lifetime although there may be many who are affluent enough to own more than one home. Besides the emotional quotient of owning a home, it makes economic and investment sense. Homes figure as a great investment avenue because of the acute shortage of homes in the country (As per our sources there is a shortage of over 40 million rural homes and 30 million urban homes). In cities and towns, owning real estate in the form of buildings and vacant plots is a popular investment and many affluent people have substantial investments in real estate. <\/p>\n\n\n\n<p>In such a scenario\nit is important that the owner of a home, enhances the value of the home to\nserve two main purposes<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To\nreside in a modern and contemporary home <\/li>\n\n\n\n<li>To\nenhance the value of the home<\/li>\n<\/ul>\n\n\n\n<p><strong>Home Improvement <\/strong><\/p>\n\n\n\n<p>To enhance the\nvalue of a home, home owners can renovate\ntheir homes and\/or extend their homes with additional accommodation. The\nvarious aspects of home improvement include<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Repairs\nto external fa\u00e7ade<\/li>\n\n\n\n<li>Repairs\nto internal accommodation \u2013 new floor, wardrobes, kitchen cabinets, new wiring,\nnew water pipes<\/li>\n\n\n\n<li>Repainting\n<\/li>\n\n\n\n<li>Addition\nof a new floor to the existing home <\/li>\n\n\n\n<li>Addition\nof a new bedroom or a study or servant\u2019s quarters<\/li>\n\n\n\n<li>Addition\nof a garage for a vehicle<\/li>\n\n\n\n<li>Addition\nof a terrace garden or a ground level garden<\/li>\n<\/ul>\n\n\n\n<p>Thus, with the\naddition of new facilities the home is that much better to live in with most\nmodern amenities and the extension of the space that will enhance the value of\nthe home both financially and emotionally.<\/p>\n\n\n\n<p><strong>Home Improvement Loan<\/strong><\/p>\n\n\n\n<p>For many home buyers, it is very difficult to finance a home\nand they often take a home loan to fund the home purchase or construction. The\nloan takes a heavy toll on the finances\nand they find it difficult to make both ends meet. Further, the home loan\nrepayment goes on for a longtime in some\ncase up to 30 years. <\/p>\n\n\n\n<p>It is difficult for home owners to upgrade their homes without additional financing as they need lump sum amounts to fund additional construction or amenities including sprucing up. Thankfully, there are financial institutions that look at home improvement requirements of home owners. They extend home improvement loans under the personal loan umbrella. Lenders also extend home improvement loans to borrowers even if they don\u2019t have a <a href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">home loan<\/a>.&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p>The advantage of a personal loan lies in its ease and simplicity with which people can avail a <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">personal loan<\/a>. If homeowners already have a loan with funders such as <a href=\"https:\/\/tata-blog.osian.dev\/\">Tata Capital<\/a>, then it is easier to avail a personal loan from such lenders.<\/p>\n\n\n\n<p><strong>Features of Home Improvement Loan <\/strong><\/p>\n\n\n\n<p>Home owners can use personal loans to improve the value of their homes because they contain features such as<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No\ncollateral required<\/li>\n\n\n\n<li>Loan\namount up to Rs 25 lakh<\/li>\n\n\n\n<li>Interest\nrate linked to repayment history and credit\nscore of the borrower <\/li>\n\n\n\n<li>If\nthe borrower has a home loan from the same lender, the interest rate could come down further as there\nis the security of the property under the home loan resting with the lender <\/li>\n\n\n\n<li>Repayment\ntenure can extend to 15 years<\/li>\n<\/ul>\n\n\n\n<p>With many lenders,\navailing home improvement loan is easy and simple and quick if the borrower has\na good history with the lender especially if the history is in respect of the home loan.<\/p>\n\n\n\n<p><strong>Tax Benefits<\/strong><\/p>\n\n\n\n<p>Besides the advantage of improving the value of their homes with a home improvement loan, borrowers can also avail tax benefits under various sections of the Income-tax Act  Thus it is very beneficial for the borrowers to improve the value of their homes by taking a home improvement loan from lenders such as Tata Capital. <\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply for Personal Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In India owning a home is an avowed desire and people try to acquire at least one home during their lifetime although there may be many who are affluent enough to own more than one home. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/personal-loan-can-now-help-you-increase-your-home-value\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-5500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Use Personal Loan to Increase Home Value - Personal Loan Blog<\/title>\n<meta name=\"description\" content=\"In cities and towns, owning real estate in the form of buildings and vacant plots is a popular investment and many affluent people have substantial investments in real estate. 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