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Festivals are a time for celebrations, socialising, gifting, and much more. Many households also take this opportunity to buy something new or upgrade their existing possessions. Home renovation usually tops the chart, especially when you have not done it in the past few years.
Home renovation has many facets like:
Some might even go for a completely new look and change their home’s interiors for a more modern-looking abode.
While festive decorations are fun, they can involve a lot of money. To meet the financial requirement, you can take a personal loan, like FIRSTmoney by IDFC FIRST Bank, and decorate your home how you want.
Before delving into the financial aspect, let’s first check out how to decorate your home for the festive season.
Here are some practical tips on changing the look of your home within your budget –
If you are looking for a low-cost way to give a new look to your home, you can start with changing the upholstery. Besides lending a new look, the change will also upgrade your furniture.
Common ways to change the upholstery are as follows –
Costs involved – The costs can start as low as a few thousand, depending on your desired changes.
A new wall décor, painting, a beautiful chandelier, creating a photo wall, etc. are some examples where adding simple accessories can uplift the look of your home. This incurs low costs and is extremely budget-friendly.
If you have some creativity, you can also undertake Do-It-Yourself (DIY) projects and make attractive accessories for your home décor.
Costs involved – This is, perhaps, the most cost-effective way of festive decorations. Depending on the accessories chosen, the costs might start as low as ₹100 for a single accessory. Multiple items would increase the cost, but they will still be affordable.
Still own outdated or creaky furniture? It might be time to change them. Upgrade to a new sofa set, dining table, bed, wardrobe, etc. You can even add to your furniture collection if you don’t have any particular item. For instance, you can buy a new one if you don’t have a dining table. Similarly, a study table or a crockery unit can lend a new look to your home.
Costs involved – Buying furniture is costlier than changing the upholstery. The costs start from tens of thousands and can even go into lakhs depending on the type and quantity of furniture you buy.
With age and usage, home appliances depreciate. They also become technologically outdated, and if they stop working altogether, buying a new one might be more feasible than repairs.
You might be tempted to bring home a new flat-screen LED TV, French door refrigerators, the latest halogen microwave, a front-load washing machine, etc. Besides being technologically advanced, these appliances also lend a premium feel to your home.
Costs involved – Buying appliances can be costly. For instance, French door refrigerators cost upwards of ₹60,000. Similarly, a large-screen TV can cost in lakhs. Buying multiple appliances will increase the overall cost.
Running short on space?
You can add a new room or floor to your home to extend the area. Design the new area with the latest and modern trends, and your house will undergo a makeover.
Costs involved – A home extension is an expensive option. It involves different steps, all of which cost money. Getting an architectural design executed, building sanctions and permits, construction, decoration, etc. The cost easily goes up to lakhs.
How about changing the interior design of your home?
It can breathe a fresh new look with the latest trends and designs. Your home can even look and feel upgraded.
Costs involved – Interior designing also incurs lakhs of rupees as it can involve a major redecoration.
Now that you know how to decorate your home for the festive season, the next question is financial support. As discussed with each suggestion, the renovation costs can range between hundreds and lakhs. For smaller changes in home décor, you might be able to pay from your savings. But what about bigger ones? How do you fund them?
The answer is simple – through FIRSTmoney.
FIRSTmoney is a smart personal loan which provides financial support of up to ₹10 lakhs for festive decorations. Here are some of its primary benefits:
With a seamless digital process, you can get your loan approved within minutes without paperwork. This gives instant access to funds, which is beneficial for urgent renovation needs.
Enjoy the flexibility of availing additional funds without starting the loan process from scratch. Access multiple loans as and when you need funds to pay for different costs that may arise during the renovation process.
The processing fee is low, and there’s no foreclosure charge. You can repay the loan whenever you want without worrying about the charges.
Choose a flexible repayment tenure to get affordable EMIs and repay the debt without disturbing your budget.
The eligibility criteria for FIRSTmoney are –
To apply for a FIRSTmoney personal loan, follow these simple steps -
Don’t wait for the last-minute rush. Plan ahead to give the renovation ample time for the right execution. Unleash your creativity and do something out-of-the-box to give your home a personal touch.
Use the tips on how to decorate your home and pick the most suitable one. For financial support, go for FIRSTmoney. Renovate, redecorate, or upgrade; FIRSTmoney can give you funds for all your home décor needs. With instant access to loans up to ₹10 lakhs, FIRSTmoney is a good financial solution.
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.