hi guys, girls, bankers & gurus...

i got keys to my new apartment about 1.5months ago now...haven't started any reno works yet cos

a) no money
b) still in the middle of nego with developer on LAD sum
c) no money
d) no money

i'm wondering, is there anything out there that spells renovation loan?

normally bank wont approve higher-than-value amount on house loan right? but is there anyway they will pinjam me another say RM100k on top of my existing house loan for renovation??

honestly, i dun think there are such thing...but times are really bad...ppl got no money, but local banks got plenty of cash laying around...maybe they will consider this?

thanks for taking ur time going thru this...

no money mah delay reno lor
i delay for 5 yrs oledi

The only choice will be personal loan for such purpuse.

Any EPF or not? Withdraw that and use it for reno.

Normally peopel reno using personal loan.

Normally people don't get loan to do renovation

got la...

You cant withdraw EPF for such purpuse. EPF only can use to buy house, not for reno

You can withdraw money from EPF (account 2) for house purchase from developer (1st house). They'll bank in the money directly into your account.

Ya,that's what i mean also
If wanna take EPF money for renovation, then too bad, you cant.

When EPF bank in money into your account, you can do whatever with it including reno. That is how I get my reno going.

What is the board interest rate for applying personal loan?

What type of renovation you plan to do? Is it necessary or important?
or is it just to spice up the interior design thingy?

If really no $, better temporary postpone it.
No point hutang here and there... you will feel the pinch later.

Why do you need to reno?


kiddo is right, why get into debts just for the sake of beautification when you clearly cant afford to do so..........?

lowest 5.5% fixed per year
highest around 12% - 13% fixed per year

agreed. try not to involve in debt for this case. you will suffer.

i already withdraw from EPF twice first time during purchase...got a lump sum $$$ so went holiday to Korea

now, the second time is monthly installment thingy so basically, EPF...no need consider....

i do hv some money put aside for reno...but i think its not enough....i've been asking around and they all cost alot...esp the bloody kitchen cabinets...my my my...

anyways, what i want to do now if important, and not just to beautify the place..

1) plaster ceiling
2) lights & power points
3) air conditioning
4) painting
5) flooring - bot laminated floor but not installed yet
6) other hacking & reno works...
7) kitchen + bathroom reno
8) wardrobes
9) beddings + sofa
10) Audio Video system (very important)

altogether, i think shud be around RM70K or so if staying on the budget side....my goodness...RM70k...how can anyone afford it i dun understand...this dude who owns one unit of apartment few floors up from mine..his place almost finish reno dy, really nice design btw...i went up asked the contractor, he told me total reno cost RM120k+++...i was like that's 1/3 the price of the apartment unit

maybe he rich kua...but by any means...dun think i can strech my budget till tat much...i have now approx RM40k onli...

the funny thing is when i ask the same contractor (cos i really like the design) wat can be done with RM40k he was like errr...err...errr...err.....RM40k...can can can..sure can one...u call me la when u want to talk ok???

guess 40k is nothing these dayss...

if take personal loan, mean i need to pay to yet another account monthly...which is not something i'm preparing to do...already my monthly commitment is stretch to the limit dy....i tot can get extra loan $$ from my house loan account then i onli pay same amount of RM every month but longer tenure by few years maybe...really no such thing?? hhrrmm....why bank so kedekut lee....they got so much money...

this mentality will eat u alive one day

There is actually renovation loan from RHB or HSBC if am not wrong.

Why don't you reno your house part by part? or based on priority? Better don't stretch yourself in too much debt..