Book a call
Book a call

How to make the most of a small renovation?

Renovation paint card

Budget Renovation

Purchasing a home is a big expense and unless you have built a new home, the expense does not end at simply buying the home. The following are the top 3 most popular and value adding renovations you can do for your home. They just happen to also add comfort and style as well. #renovation #refinance #homeowner #Firsthomebuyer #newhome #homeloan #mortgage
1) Kitchen
The kitchen is where the family and guests often spends the most amount of time. Unfortunately, it is also one of the most expensive rooms in the home to renovate. As kitchen cabinetry trends go in and out of style within a decade it can often be the one area of your home that can look dated quickly. An updated paint job will bring warmth to this heart of the house.


2) Wooden Deck or Alfresco
When home buyers look at houses, a deck is one of those items that almost everyone can picture doing certain activities on, cementing your home’s resale value. While a house costs about $85 per square foot, the deck is only $35-$50 per square foot, means that you get a lot of value out of this added usable space. For example, making an outdoor living room with a grilling station is a great way to enjoy your home inside and out.


3) Garage Door
The garage door is often neglected. It represents about 20% of the front of your home visually if it faces the front. A new automatic electric door can also provide that luxurious comfort of simply driving into the garage during hot summer or cold winters, making its value and luxury unbeatable.

Contact Madhu on 0425 341 086 to capitalise on your home's equity to fund your renovations or comment on Facebook.

6 key lending trends that brokers are likely to encounter this new year
buildinghouse

1. Home loan repayments to increase 
The financial markets expect the RBAto start putting up rates in 2018. This means repayments could also increase, typically by $50 for every 25 b.p. rise on a $400,000 loan. With any rate rise, borrowers are likely to turn to brokers to ensure they are getting the best deal possible. #HomeLoan #Mortgage

2. Property prices to cool
Banking regulators want to see a slowdown in house price growth, and that’s what we expect in 2018. Limits on investor and interest-only loan growth may remain for the foreseeable future, which may continue to dampen investor activity and cool property prices. We’re already seeing this intervention starting to take effect. Brokers will continue to play a critical role in explaining the ever-evolving regulatory changes affecting property investors and advising them of the best lending options available.

3. More borrowers may switch loan type
The big switch is on in the mortgage market. In the past six months, the number of interest-only loans held by the banks have dropped by around $36bn, according to APRA. The trend of switching to principal and interest loans may continue in 2018, and is an important transformation that brokers can continue to assist their clients with. #Loanswitch #refinance

4. First home buyers to make a comeback
With investors taking a step back, first home buyers may find more opportunities in 2018. They will continue to benefit from competitive interest rates, new concessions (if eligible) and ample apartment stock, although checks should always be made to ensure quality buys. With more first home buyer activity, brokers may expect to spend more time with their first-timer clients, coaching them through the journey as they get their foot in the door. #firsthomebuyer #firsthome #newhome

5. Upgraders may continue to renovate
We’ve seen a substantial increase in renovation loan applications in 2017, a trend that we’re likely to see well into 2018 as home owners choose to renovate over moving. Upgraders are avoiding exorbitant moving costs such as stamp duty. We’re seeing some more top-ups as people take advantage of lower interest rates and leverage the extra equity in their property in order to finance renovations. #Renovation #InterestRate

6. Owner occupiers to win from competitive lending rates 
With limits on investor and interest-only growth, banks are competing over a smaller piece of the lending pie, and are offering some great deals for owner occupiers. Brokers may see more consumers take action, stimulated by heightened advertising activity among banks. #ownerOccupied #HomeOwner

Renovation paint card

Renovation paint card

Purchasing a home is a big expense and responsibility. When you take possession or live in a home for a few years, you tend to want to make changes. The following are the top 5 most popular and value adding renovations you can do for your home.

#homeowner #HomeBuyer#Renovation #Construction #HomeLoan #Mortgage #DIY

Entry Door
Your front door is the first impression many visitors will have of you and your home. Getting a door that suits your taste allows you to differentiate yourself from your neighbors. A steel entry door provides the best value, security and energy efficiency or a fresh coat of bold paint will make a statement. It also makes an easy DIY renovation project.

Wooden Deck
When home buyers look at houses, a deck is one of those items that almost everyone can picture throwing a party on. It also adds a lot of value and added usable space in your home.

Pergola
A pergola offers a sleek and stylish option to not only protect your deck investment, but also you and your furniture. Having a covered portion of your deck allows you to still use your beautiful deck and backyard even in difficult weather.

Kitchen
The kitchen is often the room where every member of the family spends the most amount of time. Unfortunately, it is also one of the most expensive rooms in the home to renovate. As kitchen cabinetry trends go in and out of style within a decade it can often be the one area of your home that can look dated quickly. An updated paint job or just changing the hardware will make a big impact.

Garage Door
Finally, the garage door is often neglected. It represents about 20% of the front of your home visually if it faces the front. A new automatic electric door can also provide that luxurious comfort of simply driving into the garage during hot summer or cold winters, making its value and luxury unbeatable.

Contact Madhu on 0425 341 086 to value your home and to capitalise on your property's equity.

crossmenu