If you have your own home, you will want to make sure that this is as cozy and beautiful as possible. The attic offers particular potential for a beautiful design. Until a few years ago it was mainly intended as a storage room and lumber room for all sorts of odds and ends, it is currently being expanded and used from additional living space.
However, such a loft conversion is easily planned – however, the implementation not only costs a lot of nerves, but also sometimes a lot of money. Especially if the attic had to be simple and simple until now, it is now necessary to carry out many work steps until the desired goal can be achieved.
Support the loft conversion with funding
It is certainly easy to take out a loan for the expansion of a roof from one of the countless banks or savings banks and thus simply finance the expansion. However, if you want to save money, you should think about which funding can be used before taking out a loan for the loft conversion. These are not only available if the expansion improves the energy efficiency of the house. Subsidies for loft conversions can also be used for age-appropriate living.
KfW-Bank is responsible for this and allocates the corresponding funds. These must be applied for. For this it is necessary to have precise construction plans and cost estimates. In addition, funding must be applied for before construction begins and will only be approved if the work is carried out by a registered craft company. If not all costs can be covered by the funding, a loan for the roof extension can still be taken out for the remaining amount.
The loan for the loft from the bank
For this it is important that the required loan amount is known approximately. Simple installment loans can be taken up in any amount without earmarking. But if the money is not enough, additional financing may have to be made. And this is not that easy.
Therefore, you should plan and calculate in advance in order to avoid unnecessary effort when borrowing a loan for the loft conversion. Before taking out a loan, a comparison should also be made that shows the best loan offers and thus ensures that a cheap offer can be used. A credit calculator can be used for the comparison, which can be found here on the Internet. Use is free of charge and without obligation. Personal data does not have to be provided. Only the loan amount and the desired term are important. The fine-tuning around the loan only takes place when a good loan offer has been found and this is requested directly from the associated bank.
By the way: Sometimes a real estate loan or a renovation loan can be taken out as a loan for the loft conversion. However, since these are earmarked loans, precise figures regarding the costs must be available in advance. As with subsidies, banks generally request cost estimates that show exactly how the costs are structured. In addition, the bank is happy to be registered in the land register until the debt is paid. She sees this as security in order to be able to keep the default risk within a certain range.