Go By These Tips for Your Renovation Loan Singapore

Your dream home is so close to completion. The keys are already in your hands. You step into your living space. Your imagination draws so many pretty pictures on how it could look. And then the dollar sign flashed in your mind.

An OCBC renovation loan Singapore can help you tide over the costs of getting your home done. You will need to get a good renovation planner to help you too.

You’ll surely find these tips effective:

Choosing a Good Interior Designer or Contractor

You’ve been to your brother’s house a couple of times. The designs of his house is awesome. Ask him for the number of his contractor. Scout around and get a few other quotations too. Go for the ID that relates to you best. You want someone who’ll be able to break it down for you. Experience also plays a vital role.

Pricing

The first quotation you receive is based on what you wanted. Take a look at the bill. You might be able to afford more. You may need to scale it down. Get the more important bits of your renovation work sorted out. Add ons that are just for decorative purposes don’t need to be in there for now. You can gradually decorate your home as time goes by. You have years ahead of you to do that.

The Loan Application

ocbc renovation bankOCBC loan by sg.LoanGarage.com packages are different across the banks. You are offered either a flat rate, or a variable rate. A flat rate is always safer. If you take a variable rate, it will fluctuate to your benefit. It could also spike up and increase your interest payment for the month.

Choose a loan period that suits you. You can have a loan tenure of one right up to five years. The best way is to take a look at the monthly installments. Go for a figure that you can safely pay off within 3 or 4 years.

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