Anyone who has their own house knows that there is always something to do and improve. Especially if you have not built a new building but bought an existing property, you have to carry out modernization measures again and again.
Because an old heating system often no longer complies with the environmental standards that now apply, or at least it is a real energy eater. With the rising prices for gas and oil, heating is becoming very expensive. But a new heater is not exactly cheap either. To be able to finance this, many have to resort to a loan.
A comparison on the Internet is worthwhile
A loan for a new heating system can be found on the Internet, for example. There are comparison calculators that show which bank offers the most favorable conditions. You can enter the amount of the loan and what the monthly charge may be. Depending on the amount, you have to expect an average of four or five percent interest. Internet banks are often slightly below the interest rate that large banks offer.
This is because the pure Internet banks have less ancillary costs because they do not operate a wide branch network and therefore usually have fewer employees to pay. If you have a loan for a new heating system, you should always find out whether there is a certain grant from the state and the loan amount can therefore be smaller.
You should also think carefully when calculating the rates. Because a loan for a new heating system will of course be cheaper the more you can pay each month, because this will shorten the term. Remember that you can save on your ancillary costs with a new investment and invest this savings in the repayment of the loan.
Plan ahead with a home savings contract
If you buy a property, you should also conclude a home savings contract if possible. The sums saved here every month do not have to be high. But when a certain amount is reached, it can be used for modernization. It is also possible to borrow exactly the same amount again.
This loan is particularly cheap, but can really only be used for modernization purposes or structural changes. The interest on a loan is usually well below 3 percent. Conventional loans cannot keep up. In addition, you also get positive interest on the amount you save over the years.