Renovation loan 2026 – Finance your home renovation easily
A renovation loan is a consumer loan dedicated to renovating your home. Bathroom, kitchen, surface materials – save by comparing the best renovation loans.
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Try how much the loan costs per month. The result is indicative.
Esimerkki: Kun lainasumma on —, korko — ja takaisinmaksuaika —, kuukausierä on —, lainan kokonaiskulut — sekä takaisinmaksettava summa yhteensä —.
What is a renovation loan?
A renovation loan is a consumer loan specifically intended for renovating, repairing or remodeling your home. The lender doesn't ask exactly how the money is used – you can spend it freely on a kitchen, bathroom, surface materials, household appliances or builders.
A renovation loan can be either unsecured (most cases) or secured against the home (large renovations, > 50,000 €).
When is a renovation loan worth it?
Renovation loan is a good choice when:
- Renovation increases the home's value – kitchen, bathroom, surface materials
- You can't pay the renovation in cash – savings won't suffice
- You want to renovate now – not in 5 years' time
- Renovation costs are predictable – contractor offers and material quotes calculated
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Free, no-commitment comparison – results in seconds.
Examples of renovation costs
| Renovation | Typical cost | Suggested repayment period |
|---|---|---|
| Painting walls (2 rooms) | 500 – 1,500 € | 1–2 years |
| Kitchen renovation (new appliances + cabinets) | 8,000 – 25,000 € | 5–10 years |
| Bathroom renovation | 10,000 – 25,000 € | 5–10 years |
| Surface materials (whole home) | 5,000 – 20,000 € | 5–8 years |
| Energy renovation (heat pump + insulation) | 15,000 – 40,000 € | 8–15 years |
How to choose the right renovation loan?
- Estimate the renovation cost first: get contractor offers and material quotes. Add 10–15 % buffer for surprises.
- Choose the loan amount: only as much as the renovation costs.
- Compare the effective annual rate: not the nominal rate. Effective annual rate includes all costs.
- Check the repayment period: shorter = less interest, but think realistically what monthly installment your budget tolerates.
- Verify early repayment is free – important if you receive an inheritance, tax refund, etc.
Does renovation increase home value?
Not all renovations equally increase home value. Best return on investment:
- Bathroom renovation – ROI often 80–110 %
- Kitchen renovation – ROI 70–100 %
- Energy renovation – ROI 50–80 % + lower running costs
- Surface materials – ROI 50–70 %
- Cosmetic renovations (painting, small fixes) – ROI generally lower
Frequently asked questions
How much can I get for a renovation loan?
A renovation loan can be obtained at 1,000 – 70,000 € as an unsecured consumer loan. For larger renovations (>50,000 €), a secured loan (e.g. Bluestep Bank) is often more affordable.
How quickly do I get a renovation loan?
Decision usually within minutes or the same day. Money to your account within 1–3 business days. Renovation can start immediately.
Should a renovation loan be taken before or after the renovation?
Before. The lender does a credit check based on your income and credit record – the loan is approved based on these, not the renovation cost. Apply for the loan before signing a contract with the contractor.
Are interest from a renovation loan tax-deductible?
No. Interest from a consumer loan is no longer tax-deductible in Finland (the tax deduction was removed in 2023).
Should I take a renovation loan if I have savings?
Generally not – it's cheaper to use savings rather than pay interest. Exception: if the renovation increases home value more than the loan interest costs, it can be worth using debt.
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