Make the most of your money

Using a Loan for Home Renovations

home renovation

Improving your home sits at the top of good reasons to get a loan. When you renovate, you improve the value of your home, as well as your comfort and your well-being.

Feeling good at home is a great gift. When you feel safer, more grounded and comfortable, you’re ready to enjoy time with your loved ones, you can rest better and tackle the day with courage. There is a sense of pride and accomplishment in completing renovations. Work well done, whether you do it yourself or hire professionals, will make you feel on top of things. Here are a few things to consider when tackling renovations:

DIY or professionals?

If you know what to do or can get assistance from someone who does, DIY will be cheaper and double up your sense of accomplishment. However if you don’t have the required skills or assistance, you may end up damaging your home or waste your supplies and have to get help in the end anyway.

Calculating your budget

Renovations always cost more than we first anticipated… That is until we get smart. Often, we budget based on the big costs – hires and main supplies. But then, we’re missing a tool, run out of supplies, or something gets delayed and we need to pay an extra day of work, or we forgot something and need to pay for more transport. There can be cleaning to do in the end, a present for those who helped. Here it’s about being realistic – optimism can be counter productive – and avoiding to buy things if you can, for examples borrowing tools and finding left over supplies from friends.

Planning

While you’re renovating, your home may be uncomfortable to live in. That means planning is not just about the work itself but also how you will run your day to day life when the renovations are in progress. For example, if the renovations involved plumbing, you’ll have to wonder about where to shower, cook and wash the dishes, or just access fresh water. Or, you may need to protect your belongings from dust or theft, or your family from noise, etc. Here again, consider that planning delays are frequent and the discomfort can last a little longer than you hoped.

But it will all be worth it. Good luck!

Insurance

Considered insuring you car and home with the same insurer? You could save on your monthly insurance premiums.

Find Out More
Consolidation Loan

A Debt Consolidation Loan can be an effective way to manage your finances and increase your monthly cash flow.

Find Out More
Funeral Cover

When you have funeral cover, you and your loved ones will receive financial support after the loss of a family member.

Find Out More
Medical Aid

Find medical aid cover that best suits you and your family’s needs. Be prepared for unforeseen medical costs.

Find Out More
Personal Loan

A Personal Loan is a convenient way to take care of your personal and family needs and goals.

Find Out More
24%

of customers use loans for consolidation

24%

of customers use loans for renovations

12%

of customers use loans for education

Our Sponsorships

Read more about how we support grassroots Rugby through our Currie Cup Sponsorship.

Read More
Job Opportunities

Thinking of working for DirectAxis? Why not explore what it means to work at DirectAxis.

Read More
Customer Care

We pride ourselves on delivering the best possible customer service. Get in touch today.

Read More
Social Initiatives

Find out more about the corporate social initiatives we're undertaking to deliver positive change.

Read More

Your direct connection to Financial Services. Direct Axis SA (Pty) Ltd (Registration no 1995/006077/07) is an authorised Financial Services Provider (FSP 5 and FSP 7249) © Copyright 2017
Privacy Policy - Legal Documents - Sitemap

Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 27.75% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.
An illustrative example of a loan at an interest rate of 27.75% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 197.00 and a monthly admin fee of R68.40, over 72 months.
The total cost of the loan will be R 110 529.68 which is an Annual Percentage Rate (APR) of 30.95%.

Welcome to the new DirectAxis website! We still offer the same great financial services solutions in an extremely secure manner - just with a new look and feel