Remodeling or Construction from Scratch in housing credit

Remodeling or Construction from Scratch in housing credit

Global X Real Estate

Acquiring a property that requires some interventions also translates into a lower purchase price, increasing the range of solutions in the search for a home. Doing remodeling works in a newly acquired house allows you to make the property more welcoming, increase its functionality or adjust some elements to taste, such as the kitchen, bathrooms, flooring, etc.

These improvements can also increase the energy rating of the home, which translates into greater comfort and/or reduced energy bills.

The question is often the following: how to buy a house using home loans, when we still need a loan for works? 

It's simple. Currently, banks already offer options for home loans with works included. The main difference is in the process of evaluating the property, where the house is evaluated according to the current state and an estimate is assigned after completion of the works, according to the budget presented.

Global X has a specialized credit advisory to help you throughout the process.

If the property you choose is not all refurbished, you can count on the platform team to make the property more modern. The advantage of doing the refurbishment with one of our partners is that the cost can be included in the value of the acquisition. Therefore, if you opt for a credit, you can pay this extra amount along with the installments of the property. Which is a very interesting point of the company, because in other cases the value of the remodeling can not be divided into so many times. And since a remodel can be costly, having more time to afford those costs can be a big plus.