Financing your next Property Renovation or Development

There are many different things that might have inspired you to try your hand at home renovation. You may have been inspired by a television shows that you may have seen (Grand Designs guilty as charged). You might have noticed that your house needs to be repaired, you may have fallen in love with an older property that needs some love and attention. Regardless of the reason that you want to make changes to your home, there is no doubt that home renovation can be an extremely large project.

The work that is required in order to renovate a home can be quite expensive. For example, you might have to add a loft conversion, upgrade your central heating. In order to renovate your home you will need the proper finances. This means that you might have to enlist the help of companies that specialise in financing home renovations.

Planning for Your Home Renovation Project

It is extremely important for you to plan your home renovation project before you do anything else. While you plan the home renovation project, you have to remember to plan every single part of the project. After you have planned all of the aspects of your project, you will need to figure out which elements of your project are more important. It may be a good idea for you to base this on whether each element improves the quality of your lifestyle or if they simply increase your home’s value.

Finding Out the Cost of Your Home Renovation Project

Before you are able to finance this project, you will have to have an estimate of how much everything costs. It is also a good idea for you to have a budget planned out. The estimate that you obtain for the cost of your home renovation project should be as accurate as possible. Once you know how much everything costs you will be able to figure out which elements of your home renovation project should be saved for a later date.

In order to figure out how much your home renovation project will cost you will have to contact a lot of different designers and construction companies. Once you have a list of designers and construction companies you can discuss your plans for your home renovation project. You might also want to mention the dimensions that they will be working with. This is the best way for you to find an estimate for how much your project will cost. Once you have a list of estimates from different companies, you will be able to compare these rates for an average cost of your home renovation project.

Financing a Home Renovation Project

If your home renovation project is fairly small and it will not cost a lot of money, you might be able to take advantage of home renovation financing options that give you the chance to free up enough money for your project by borrowing money against the increase value of the site. The funds that you are able to obtain this way have quite a few different advantages. For example, you will be able to obtain 100 percent of this amount. In addition, this home renovation project finance option will provide either outline project planning permission or full project planning permission. There are even options available on home renovation financing with interest payments that do not have to be paid off until the home renovation project has been finished.

If you have a smaller home renovation projects to deal with can take advantage of drawdowns on a regular basis. These can normally be paid out around two days after the request for payment has been made. One of the more popular home renovation financing companies includes Greenfield Capital.  Greenfield Capital have four different types of home development financing options available to them. These four types include 100 percent property development finance, joint venture 100 percent finance, a Mezzanine loan and a senior debt loan.

The Advantages of Using a Company like Greenfield Capital

Greenfield Capital offers property renovation finance options that can cover all of the property development costs involved. For example, this might include marketing costs, infrastructure costs, purchasing land and the cost of building on the site. Greenfield Capital offers their services for property development loans for commercial developments, residential developments, purchasing land, conversion, new buildings, refurbishing and renovation.

Addittionally you can pay off the interest on loans in quarterly installments or in monthly installments. Monthly allotments on drawdowns are also available.

There are options out there that are available to finance your Dream. Take the time to plan properly and get quotes.
+Tim Capper

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