Borrow money for garden construction. Imagine you have just bought or rented a new house and there is a garden. Only when you went outside to view your estate did you get a hat. The garden is really a huge mess and you really want to make this right again before the beginning of spring. You can then sit outside without looking at a ruin.
Do you want to make it completely to your liking, including beautiful garden furniture then you will have to dig deep for this. But yes, the move itself has already cut a good hole in your budget and you might be able to use a loan for your garden.
Borrow money for garden construction
What is actually involved when you want to make your new garden up-to-date again? There are various hidden costs that you don’t think about at first glance. Just think about what has to be done underground for pipes and such.
If you can do most yourself then this is of course a good start and you can save a lot on the total cost. With a smart loan, you will also be able to cover the hidden or unexpected costs.
Which loan is eligible
Do you know exactly what you want to spend and do you want to get the requested amount to your account in one go without surprises, then choose a personal loan. This is also intended precisely for this purpose. after all, you are going to do a fairly large expense in one go and it is also your plan not to deviate from the budget.
If you want more room for maneuver and your total expenditure is not yet fixed, you can opt for a revolving credit. With this loan you only pay interest on amounts that you actually withdraw. If the job is not too bad afterwards, you use the credit less and you pay no interest on the rest.
How do I determine how much I need?
You then start by measuring your plot, on the basis of the number of square meters that you want to take over, you can already get a good insight into the total cost. You also look at what you have to outsource, for example digging and installing electricity.
Everything you have to do for a company is not cheap, a little digging quickly costs a few hundred euros. Keep this in mind with your budget. Ask for some quotes in advance so that you get a good insight into the expected costs.
May I deduct the refurbishment of the garden from the tax
You may deduct any improvement to your house (including garden) from your annual tax return. That is, you can deduct the interest you paid on a credit. So not the costs of the renovation, but only the interest paid on borrowed money for it. If you pay everything from your own pocket, you are out of luck and you cannot deduct anything.
You can raise an amount of € 10,000 for refurbishing the garden and you take out a personal loan or a revolving credit for this. At the end of the year it appears that you have paid € 400 interest on your loan. Now you can deduct that € 400 from your declaration under ‘own home’. You may NOT deduct the € 10,000 from the credit.