With a new kitchen you will soon lose thousands of euros, so it is not surprising that you have to borrow money for a new kitchen. On the one hand it is annoying that you have to take out a loan to get this done, but on the other hand it does contribute to the value of your house.
If you want to sell your house later, having a new kitchen is an extra incentive for potential buyers to pull them over. When purchasing, count on an amount of around 10,000 euros and you will see that this including assembly etc. is not far from the truth.
Borrow money for new kitchen
It is one of the most requested loans, besides borrowing money for a car, this means that there is a lot to offer to meet this need. But which loan form is best for this, because there are several forms in the Netherlands that you can look at. Will it be a second mortgage, a revolving credit or a personal loan.
A second mortgage is often a hassle for a relatively low amount of around 10,000 euros. You must first get permission from the mortgage provider before you can start, there is also the chance that you have to go to the notary to sign papers, this also entails additional costs and quickly takes a few weeks before everything is completed is. Sometimes when taking out a mortgage it is included in the purchase contract that with a possible second mortgage there is no need to go to the notary, this makes the whole story a lot easier.
The advantage of this form of credit for the purchase of a new kitchen is that the amount can be repaid over a long period of time and therefore results in a low monthly charge. The disadvantage is that you are tied to it for years, which is deducted again with the possible profit when selling your house.
This form is actually meant to make sure that you have some money on hand if you suddenly have to pay for something or have to buy it. The revolving credit has a variable interest rate and the term does not have to be fixed either, but you can use this if you miss a small amount of financing for the purchase of your kitchen.
For example, if it costs 10,000 euros and you have already saved 7,500 euros, you can finance the last bit with a revolving credit. You apply for a revolving credit from an amount of 5,000 euros.
This type of loan is actually more suitable for purchasing something expensive that has to be paid in one go. The personal loan has a fixed interest rate and remains the same throughout the term, the end time of the loan is fixed and once repaid amounts can no longer be withdrawn.
In this way you relieve yourself at a regular pace and after the set term you are also completely off and your brand new kitchen is completely yours, is also a nice idea.