Personal Loans – The Perfect Solution for Urgent Home Improvement Projects

January 02, 2020

After many some time living in your home, it finally happened—your house is showing all the signs that it needs a home improvement project, stat. The paint is chipped, the walls are peeling, and your plumbing takes quite a bit of effort to workaround. Quite frankly, everything’s been too much to bear to the point where a home improvement project can’t be put off. 

As tempting as it can be to drop everything and schedule a home renovation project and get the necessary materials right away, there’s just one problem: You most likely don’t have enough money to pull it off. 

Generally speaking, the all-too-common fairytale of saving up the necessary amount and eventually paying for a home improvement project can be quite impossible to attain. In spite of the fact that saving up and paying in cold, hard cash is the ideal way to go, it isn’t always a realistic option. Fortunately, a personal loan can be the answer that you’re looking for. 

In recent years, South African lenders have recognized the surge in home improvement project financing applications. As a response, they have created special home improvement loans that can be taken out for a variety of specific purposes. Each home improvement loan comes with its own set of terms and advantages that are best suited for specific types of projects with varying lengths and budget caps. 

The advantages of home improvement loans

To better understand how a home improvement service-specific personal loan can be best for you, let’s look at a few advantages that you can greatly benefit from:

1. They don’t put your home at risk

As opposed to getting a home equity loan that could potentially leave your home vulnerable, home improvement service loans are much safer and pose far fewer risks. 

Home improvement service personal loans retain the benefits of low-interest rates that home equity loans have without the risk of having to turn your home itself over as collateral. Instead of going for the riskier alternative of home equity loans, home improvement service personal loans won’t force you to give up the home that you’ve worked for so hard to improve if you end up missing a payment deadline. 

2. They don’t require you to have picture-perfect credit

Even with a not-so-stellar credit record, you’ll still be able to take out a personal loan for your home improvement needs that are sizable enough to make major changes to your humble abode. It is worth noting, however, that not every bank, online lender, or credit union will give you a personal loan for your home improvement project, but there will always be an option that can fit your record and budget at the same time. 

3. They’re easy to apply for and quick to receive

As opposed to other types of loans that can take quite a lot of time to apply for and secure, getting a personal loan for your home improvement project can take as little as a day to as much as a week. Depending on where you apply for the personal loan, you’ll get your home improvement project funding quick enough to start on the renovation in the same week as well. 

Having a less-than-satisfactory home that you’ve been dreaming of improving can be quite a problem to deal with if you don’t have the needed cash on hand. This situation is where a personal loan comes in. If you’ve been meaning to give your house a much-needed makeover with a home improvement project but don’t have the funds to make it happen, then get a headstart with a personal loan from Hoopla Loans today.