Whether you’re looking to make small updates or tackle a larger renovation project, home improvements can be a worthwhile investment. To maintain the value of your property and extend its useful lifespan, investing in home renovations is a good idea. But accessing small loans can be challenging, especially if you are just starting out in your professional journey, and don’t have a strong credit history. This is where personal loan lenders like LazyPay come in. They provide personal loans for home renovations/repairs to help people fund such repairs. These loans can be helpful if you don’t qualify for other types of financial assistance or want to ensure that the work gets done properly. Read on to know more about how they can help you with your home improvements project.
What do home renovation and repairs entail?
There are several repair and renovation jobs that may be required at any point in the entire home ownership cycle. From general repairs to upscaling your home for a family wedding, or even bringing a fresh look in time for the festive season, there is no end to the situations that call for home improvements. in fact, occasions like weddings or festivals call for major home improvement projects, that can range from restructuring the home to granular tasks like interior decor, which makes it necessary to access immediate funds.
You will have to periodically undertake repairs of appliances, damages to the walls and ceilings, moisture damage, cracks, and so on. You may also have to undertake periodic repainting of your home while changing or repairing your plumbing or electrical systems in the home.
You may also have to periodically change your furniture and furnishings when they suffer from wear and tear or are no longer fit for use. You may also change the décor theme or look of any room or the entire home as a way of keeping it relevant in modern times and also enhancing its overall value. These are jobs that you simply cannot put off by all means. Your home is your shelter; you should immediately attend to urgent fixes and repairs, while periodically renovating it for a fresh touch. This also cuts clutter and monotony, while boosting your mental health and positivity at the same time. Hence, the importance of home renovation and repair is not lost on any homeowner or family.
What is a personal loan?
A personal loan is a specific type of loan that one can use for covering home renovation and repair costs along with taking care of other purposes. These loans are unsecured, i.e. they do not require any security or collateral from applicants. Hence, their interest rates are slightly higher than many other types of loans. Simultaneously, it can be said that personal loans can be flexibly used for taking care of diverse requirements. They are sanctioned in a quicker time than many other types of loans as well. Their tenures are also shorter in comparison to many of their secured counterparts like home loans. What makes LazyPay personal loans a frontrunner in this regard, is the fast disbursals offered to users, so they can undertake their home improvement or other needs in time.
Why a personal loan helps with home renovation and repairs
An instant loan helps greatly with home repairs and renovation. This is because people do not always have access to funds for completing these vital tasks on their own. At the same time, many people who are income-earning family members do not want to deplete their hard-earned savings in one go on home repairs or renovation projects. These procedures may require sizable time and monetary investments, which may be a drain on one’s resources as well. Hence, an instant personal loan helps greatly in terms of covering these expenses without any worries.
Issues involved in getting personal loans
Many people face issues in obtaining personal loans due to various reasons. Some of these include the following:
- Not meeting the eligibility criteria due to any parameter.
- Young professionals who have started their careers.
- Lack of a credit score or credit history.
- A perceived higher risk profile.
- Issues with lengthy paperwork and tedious application processes.
- Time expenditure on visiting branches and completing personal loan application procedures.
What can be a great solution?
If you are looking for an instant loan that can eliminate all these hurdles, then you should not look anywhere else other than LazyPay Loan App. How does this help? You can check your eligibility with the app by sharing your PAN details and a few other basic details (bank account and IFSC, Aadhar card, photograph, and net banking for auto repayment may be needed at times). You will then be able to activate your enhanced credit limit by completing a one-click KYC and linking your bank account. Once you have your credit limit, you can withdraw from it as and when you need the money. You can repay these amounts through easy EMIs (3-24 months) at attractive rates of interest (depending on the EMI plan and risk quotient of the borrower).
You only have to pay interest on the amount that you use and not on the entire credit limit. The entire process is digital, paperless, and completely hassle-free. You do not have to go through cumbersome paperwork while obtaining funds instantly for home renovation and repairs. Hence, if you are looking to cover such costs with an instant personal loan, then downloading the LazyPay app will be your best option, to say the least.