In brief; house purchased in 2012 on south-side Dublin and has nicely increased in value. Unsure by how much as none (second-hand) close by have sold.
We are thinking of asking for circa EUR15k to do some small renovation/tidying up; which is about 5% of the purchase-price. Are the banks lending for thigns like this?
We are thinking of borrowing as we don't believe the renovations will translate €-for-€ to an increase in sales price - a spend of EUR15k will not result in EUR15k increase in sale price over our neighbours (and anyway we've no way to judge, particularly as we've no similar house in the vicinity to compare it against). A more pertinent reason for borrowing is we also may sell within 5 years and move abroad; we will recoup our money on sale less a bit of interest which suits us from a cash-flow point-of-view as we keep our savings now.
We are thinking of asking for circa EUR15k to do some small renovation/tidying up; which is about 5% of the purchase-price. Are the banks lending for thigns like this?
We are thinking of borrowing as we don't believe the renovations will translate €-for-€ to an increase in sales price - a spend of EUR15k will not result in EUR15k increase in sale price over our neighbours (and anyway we've no way to judge, particularly as we've no similar house in the vicinity to compare it against). A more pertinent reason for borrowing is we also may sell within 5 years and move abroad; we will recoup our money on sale less a bit of interest which suits us from a cash-flow point-of-view as we keep our savings now.
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