According to a study, the percentage of the bills that we spend on heating during the winter is 44%. This means that each home assumes an average expenditure of around 500 dollars a year in heating. This figure is 50% more than what we spend to cool our house in summer. However, a reform to condition our house and achieve greater energy efficiency can mean savings on the following bills. Therefore, a reform loan could be amortized if we manage to spend less on both heating and air conditioning.
Choosing the right loan is important
A reform at home allows us to condition it to our liking, repair breakdowns and achieve greater energy efficiency. According to data from the consumer study of the online bank, home reforms are the most frequent purpose when we apply for a personal loan, regardless of the age and location of the applicants.
For this reason, this company, like other financial entities, have launched reform loans with the specific purpose of remodeling our home. These credits already have certain conditions set for this purpose, being able to find several on the market, so comparing their characteristics is the optimal decision to obtain the cheapest reform loan.
Since these personal loans are configured to finance all kinds of reforms, we will have to deliver the attached project budget to the rest of the necessary documentation to obtain them. Therefore, we will first have to study the different offers made by the contractors and decide on one, and then resort to the necessary financing for the project.
This time, loan is synonymous with savings
With good insulation we can save up to 50% on heating and cooling in our home, according to the Technical Building Code. Taking this information into account, resorting to a reform loan could be an investment for the long-term savings of the family economy, although upon request we may incur a debt with the lender.
The average annual expenditure on air conditioning (both heating and air conditioning) for families is around 990 dollars on average. If we cut them in half, we could save up to 4,950 in the first ten years after the reform, a figure that would more than cover the interest on most of the loans shown in the table.
In addition, emissions from boilers and air conditioners, as well as those produced in the process of obtaining energy, pollute enormously. Thus, with a reform loan, we would help to be more comfortable at home and reduce the impact we have on the environment.