Improve or Repair Your Home with a Personal Loan

Making your home feel just right often means more than just a fresh coat of paint. Whether it’s addressing overdue repairs or updating key areas of your home. A personal loan can help you make those necessary improvements. Here’s how a Capfin loan for home repairs or upgrades could help.

Your home is more than just four walls and a roof, it's where life happens, memories are made, and goals take shape. However, maintaining a safe, comfortable space often requires repairs and improvements to support your family or even growing family and address any renovations required. This is where a Capfin loan can make your renovation plans a reality.

Using a personal loan for home renovations means you don’t have to wait until you’ve saved up every cent needed to make those improvements. Instead, you could get funding from Capfin and jump straight into action. Want to fix plumbing,  repair your flooring that’s damaged, or add extra  storage space for a family member coming to stay with you? A Capfin loan can give you the flexibility to make it happen.

A personal loan can be a smart option to fund home improvements. Here are some of the key benefits:

●      No collateral needed: Unlike home improvement loans, which are sometimes secured against your property, with a Capfin loan, you don't have to risk your house or car as collateral.

●      Flexibility: A Capfin loan allows you to borrow what you can afford, from as little as R1 000 to as much as R50 000, depending on your affordability assessment. This means you can keep your loan manageable based on your project requirements and ability to repay the amount.

●      Fast access to funds:  Unexpected moments can happen when owning or renting a Home. Capfin understands these moments happen and offers fast loan pre-approval within minutes. Once approved, your loan is paid out within 48 hours.  

Every home project is unique, and Capfin loans can be used for various needs. Maybe you’re looking at basic repairs, like patching up a worn-out roof or redoing some electrical wiring, or perhaps you’re wanting to build a extra cupboard for your mom who is coming to stay with you. A Capfin loan can help you cover these costs.

With Capfin, you can apply for a loan of up to R50 000, with repayment options of 6, 12, or 24 months, depending on risk profile. This flexibility makes it easy to pick a loan for your needs and timeline.

Planning your home improvement budget before applying for a personal loan can help you stay on track with your spending. Decide which projects will help improve your home more and increase its value. Improvements like increasing the size of a room or fixing damaged areas of your property can offer great returns if you sell your home.

You can also break your project down into small tasks and consider the costs for each one. Plus, you can even add a contingency amount for those unexpected expenses that can come up during home renovations. Planning out a detailed budget ensures you get the most out of your Capfin loan and keeps your spending on track. Using a personal loan for a home improvement can be empowering, but it requires careful planning. Here are some tips:

●      Set a realistic budget: Start with a realistic budget, including a buffer for unexpected expenses. Don’t forget to set aside at least 10% for these unexpected moments.

●      Prioritise projects: Not every project is essential, so focus on the ones that improve functionality or add significant value. For example, you should prioritise upgrading your electrical wiring over updating your bathroom.

●      Borrow what you need: Although it's important to include an amount for unexpected costs, you should still be realistic about how much money you would actually need.

●      Stay on top of repayments: Staying on top of repayments can help you maintain a healthy credit profile. Use tools like the Capfin repayment calculator to see your estimated monthly payment upfront before starting the application, making it easier to plan repayments and manage your finances.

●      Track your spending: During your renovation, monitor your expenses to stay within budget. It’s easy for costs to get away from you if you don’t keep an eye on your spending.

Picking the right personal loan for your home improvements is vital. Capfin makes it easy by offering a loan calculator to estimate your monthly repayments with loan pre-approval in minutes. This Capfin loan calculator will help you decide the best loan amount for your budget and current needs.

With Capfin, you’ll always know what your repayments will be upfront. You can see your estimated repayment instalments when you apply for a loan, making it easier to plan your budget accordingly. This also makes it easy to select loan once your application has been approved.

At Capfin, we believe you're more than just a loan. Whether it’s a simple coat of paint to refresh your home or extending a room, a Capfin loan is here to help you turn your house into a home.

With loans of up to R50 000 and repayment terms of 6, 12, or 24 months, our simple application process means you can access funding quickly and easily. Ready to choose how much you want to borrow? Apply for a Capfin loan online at www.capfin.co.za, via SMS to 33005, or by visiting any PEP or Ackermans store.