How to finance important works in the house

Do you want to do works in your home? Before you start, check if you can benefit from the existing help.

It is not always useful to break the piggy bank to undertake work in his house. Bank loans, loans offered by aid agencies … Several financing solutions will help you to carry out your project. How to finance important works in his house? Explanations.

Apply for funding work from aid agencies or state

Before turning to a bank and the solution of credit work, it is wise to go around the possible aid. Indeed, the State has put in place several aids to encourage the development of energy renovation works. These are the tax credits, the Anah subsidies, and the zero interest eco-loan.

The tax credit for the energy transition is granted to anyone who has certain types of work done in their home completed for more than 2 years. The equipment eligible for CITE is, for example, high-performance gas-fired boilers, heat pumps or heating control devices. The rate of the tax credit is set at 30% for expenses paid in 2019.

Low-income households wishing to renovate their homes over 15 years of age can benefit under certain conditions from subsidies from Anah (National Housing Agency). Managed locally, these can be up to 25,000 euros depending on the nature of the project.

The zero-rated eco-loan is aimed at homeowners prior to 1990, occupiers or landlords. Without means test, carrying out energy renovation work. This loan is capped at 30,000 euros and its repayment term is fixed at 10 years.

Other funding solutions works

If you do not have the necessary funds, you have the option of taking out a work credit. To help individuals realize their projects, banks offer a wide range of work loans in the form of restricted or unassigned personal loans. As a reminder, the credit allocated is to borrow a sum of money that will be used to finance a specific project while the personal loan can be used freely by the borrower. This second option is particularly for people who want to do their work themselves, without going through a professional. Finally, some borrowers choose to take out a revolving loan, a type of loan that is expensive but has the advantage of avoiding additional formalities for obtaining new credit.

It is important to find funding before starting work or engaging with a company. Do not hesitate to estimate the amount of work to be done by making several requests for quotes. Nevertheless, it should be noted that in accordance with the Scrivener Law, if you have made a commitment to a company before you have applied for a loan and that request is subsequently denied, you may opt out.

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