Loan money for renovation

How Much to Do? What will the renovation cost? How do you obtain refurbishment and loan offers? How much does your home increase after the renovation? And do you have the money you need for the project?

The questions are many for renovation of housing

Read about what you should consider before, while, and after you renovate or rebuild, and read the seven steps from idea to renovation.

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Before you renovate

Get your property evaluated

Before embarking on a renovation or renovation of your home, you should have your house or apartment evaluated. You must both have evaluated what your accommodation is worth now before the renovation and what the home will be worth when the project is finished. In many cases, your home will increase in value when you renovate parts of it, for example with a new bathroom, and the increase in value is important to have in relation to assessing how much and how you can borrow for the project.

You can contact your bank or mortgage bank to get your property re-evaluated. The bank sends a real estate agent or appraiser who comes out to you and looks at your property. The actual assessment usually takes less than an hour and is free of charge, but you must be aware that there may be a few weeks’ waiting time with the bank depending on the business.

Once the appraiser has visited your home, they will send you a new assessment. It is this assessment that you can take as a starting point when talking to the bank and other loan providers about financing opportunities.

The assessment process can take 2-4 weeks in total, from the time you contact the bank for the first time and until you have the final re-evaluation. It is therefore a good idea to contact the bank well in advance before you plan to start the renovation.

Describe the project

When the assessment is in place, you should consider more closely how big a project you should initiate. Can it also pay to change the floor when you still have to replace the kitchen elements? Do you want to put the radiator in the floor when you are still making room for a balcony? Or can you install water saving fixtures in your new bathroom?

There can often be money to save by making a larger project at one time rather than making several small projects one at a time – but of course only if it is projects you actually plan to make.

Make a plan for what you want to have done on your home and describe the project as detailed as possible. You should also consider some of the cost of the project. How much is a new kitchen, a balcony, heating in the bathroom floor or a window replacement worth for you, and how much can your finances pay for a month?

If you are going to undertake a major renovation project, rebuilding a kitchen or bathing or constructing a new extension, consider using a drawing program to visualize the project in the right targets. You can, for example, try the free version of Room Sketcher.

Energy-friendly renovation?

When planning a renovation project, refurbishment or renovation, it may be a good idea to consider your energy account in the project. Consider installing water-saving thermostats or toilets in your new bathroom. Can you re-insulate an outer wall when you still have to change the kitchen elements? Or can you switch to a more energy-friendly heat source when you build out?

On the one hand, there will often be money to save directly on your bills from the electricity and heating company, and partly the green profile can be decisive for your opportunities to deduct the craftsmen’s wages from tax. You can read more about this at the bottom of this post.


As part of the project description, you also need to consider whether you want to do parts of the work yourself. Be realistic about your skills and time, and consider that unforeseen difficulties may arise. Consider whether you can take time off from work, whether you have time in the evening or if you have the necessary tools. If you have to pay your own holiday, rent expensive machines and spend twice as long, the economic benefits of the do-it-yourself solution can quickly disappear.

Also, carefully examine what you need to do when it comes to electrical installations, piping and sewerage. It will often be necessary to hire a professional for parts of the renovation.

You can consider doing some of the less technical work yourself, and hire professionals for something else. Perhaps you can, for example, pull down the old kitchen yourself or you can paint lists and walls yourself.

Get quotes from craftsmen

Once you have described the project for yourself and set a framework for how much it should cost, you can start collecting quotes from craftsmen. There can be a big difference both in price, time and execution by different craftsmen. You must therefore always contact several craftsmen or contractors before you accept a quote.

Many craftsmen offer to come home to you and look at your accommodation to evaluate the renovation project before they offer an offer. It is often both free and non-committal, but be sure to have an appointment before the company sends a craftsman or engineer. The craftsman can help you assess different solution options for the project and talk to you about price and result. Be aware that it is often not only the price that varies on different offers from the craftsmen.

Look carefully at all parts of the offer and consider how long you will spend on the project and which craft solution you find best. If one of the offers you receive is significantly cheaper than the others, there may be reasons to be a little skeptical and thoroughly examine the company.