Choose the best loan that fits your pocket for your home renovation

Decision must support your budget and financial goals

- By Boitumelo Kgobotlo

There is no single right way to pay for home improvements, but what matters is making the choice that suits your needs, budget, and long-term financial goals.

This is according to Nedbank executive for unsecured lending Wendy Beaumont, who highlighted that while South Africans are eager to upgrade their homes, many are unsure of how best to fund their renovations.

“For those needing financial support to get started, two common options are personal loans and home loan refinancing. But how do you know which route is suitable for your project, budget, and long-term financial strategy?

“To make informed, responsible decisions, it is imperative for homeowners to know the key differences, pros and cons, and ideal use cases of each financing method,” said Beaumont.