Are you planning a home renovation? At Crefin & Partners, we are ready to help you finance your renovation.
With a smart renovation, you give your home a fresh upgrade without having to move. This way, you turn your current home into a place that is perfectly suited to modern times. Feel free to schedule a free, no-obligation consultation and discover how you can transform your house into a true dream home.
A renovation can be quite expensive. Is the required amount not (entirely) in your savings account? Don't worry, there are often plenty of options to finance this. For example, you can increase your current mortgage or take out a separate renovation mortgage.
Including renovation costs in your mortgage Are you buying a home and do you want to start renovating immediately? Then you can often include the costs (partially) in your mortgage. A valuation report determines the value of the home after the renovation. Based on this, you may be able to obtain a higher mortgage to realize your plans.
Taking out a second mortgage You can also choose to take out a second mortgage. This effectively increases your existing mortgage with an extra loan for the renovation. Usually, you arrange this with the same lender as your first mortgage. In some cases, you can also go to another party, although that can be somewhat more complex.
Which option suits your situation best? We are happy to think along with you and provide advice that truly fits your needs.
Consider what you want to renovate (new kitchen, extension, dormer, etc.) and request quotes from contractors. Check if you need a permit.
Step 2: Meeting with the mortgage advisor
Our Mortgage Advisor provides you with advice and calculates how you can finance the costs of your renovation. We look at your financial situation and calculate whether a higher mortgage, second mortgage, or loan is best. The first consultation is free and without obligation.
Step 3: Arrange financing
Are you opting for a mortgage? Then we submit a valuation report and other documents to the bank. We compare 40 banks for the best deal.
Step 4: Signing the mortgage offer
Upon approval, you will receive the mortgage offer. After signing, the funds are set aside, sometimes in a construction deposit.
Step 5: Renovate
With the money from the construction deposit, you can pay the contractor. Time to transform your home!
How much does it cost to finance a renovation?
In addition to the costs of the renovation itself, you may face extra expenses such as advisory fees, a valuation, or notary fees (for a second mortgage). At Crefin & Partners, we work with a fixed price for mortgage advice, so you know exactly where you stand in advance. Feel free to take a look at our rates page for more information.
A construction deposit is an account in which the money for your renovation is reserved. You pay contractor invoices from this account by submitting the contractor invoices to the construction deposit.
Which renovation costs are subject to 9% VAT?
For houses older than two years, 9% VAT applies to painting, plastering, insulation, and wallpapering. Other work is subject to 21% VAT.
What will your advice and mediation cost me?
With us, the first consultation is always free and without obligation. For our complete advice and mediation, you pay a fixed price, which you can find on our rates page. Transparent and without surprises!
Are the costs for your advice and mediation tax deductible?
Our first consultation is free. For advice and mediation, you pay a fixed price, which is tax-deductible and can be found on our rates page .
