To protect themselves and have a good lifestyle, man has always sought to build the best possible habitat. Nowadays, it is important to have the house of your dreams and to do this you have to do some work. And these require considerable financial resources. Therefore, it is necessary to find ways and means to achieve this. For this credits and subsidies are available for an extension of your house. But you must first meet certain conditions.
The different types of loans to expand your house
Some banks and financial institutions offer loans but there are conditions to be met.
The agreed loan
It is a credit that is granted to any individual wishing to do extension work. It is designed to help you finance all the work and the repayment depends on the duration of the loan.
The zero rate loan
It is the one that is most sought after; because the rate is zero and it is a considerable asset. On the other hand, other conditions must be respected such as the work must be carried out only two years after the acquisition of the house.
The work loan
It is a loan specifically designed for this kind of work. As a result, it is possible to finance the work of any type of house with this loan. But, there must be supporting documents which can be done thanks to the estimates and invoices.
Loan to social accession
Here the repayment rate will depend on its duration. It only applies to your principal residence and certain conditions are issued by financial institutions for this type of loan.
Work personal loan
It is a very popular loan too. No proof is required and any type of house can benefit from it.
Housing savings loan
Here no income condition is required. It is exceptionally intended for your main residence and the repayment lasts between 2 and 15 years.
The tax credit
It is a sum of money defined by law which is removed from the gross amount of tax that you must pay. It is often given in the form of a refund.
In this context, it will be made available to you in the event that you carry out work with the aim of improving your energy consumption. These extension works should allow you to consume less energy in the long term thanks to new technologies.
The sums allocated are 8,000 euros for one individual, 16,000 for two and an increase is applied for any other person.
In addition, one can also carry out his work thanks to loans from private persons. In this case, the repayment conditions and their duration depend only on the two of you. And it is essential to notify it in writing and in front of a person authorized for this type of financial operation.
In addition, it would be profitable to carry out work that goes in the direction of improving your house from an ecological point of view.
Read also: How to finance the expansion of your house?
What borrowing capacity to finance your home expansion work?
If more and more French people may encounter financial difficulties to carry out the work of enlarging their house, there are however certain solutions to allow you to achieve your goals. As you can imagine, if some individuals sometimes have the possibility of carrying out the extension work of a house on their own, this is not at all the case for everyone, quite the contrary! So to speak, we have lost count of the number of times when some French people have simply been forced to abandon their project to expand their house, for simple lack of means.
However, with a borrowing capacity which could be much larger than expected, we can say that this may well change everything for those who do not know how to go about the expansion of their house. Indeed, you will need to know your borrowing capacity if you really want to succeed in your project! Thus, by spending a little time on the calculation of your borrowing capacity, you will finally be able to know the work that will be possible to carry out within the framework of this project, and those that you will have to carry out in a second time.
To achieve your goals, we could only encourage you to use an online tool to directly calculate your borrowing capacity. To do this, however, you will have to answer a few very specific questions: these are essential for your borrowing capacity to be as realistic as possible. Once this is done, all you have to do is take action with a loan application. Once you have been able to recover your funds, you will finally be able to carry out your work…