Being Wise About Renovating Your Home

home-improvement-to-add-value

Home improvement is always something cool and exciting to look forward to. As we can judge by the lasting popularity of shows like Burke’s Backyard and Better Homes and Gardens, here in Australia we have this cultural fascination for doing stuff around our homes to make them look and feel better.

There are always small improvements around your garden or your backyard that you could carry out yourself at little or no cost. When it comes to a full home makeover though, then one has to ultimately fork out money. However this is not something to lament. As long as you prepare in advance with some proper care, you could end up with a great new look home for a relatively affordable cost.

There is a range of things to bear in mind before you embark on your journey to renovate your home.

You might feel you’re pretty good with nuts and bolts yourself but you gotta ask if you’ve really got the time to put into carrying out the renovations around your home.  There are often instances where a couple or an individual start renovating their own home, only to realise they either didn’t have all the necessary expertise to carry out the task, or had the expertise but not the time.

The importance of getting the new look of your home right cannot be downplayed. It’s the sort of thing that will end up making all the difference if you ever decided to sell your home, or rent it out as an investment property. Therefore it really pays to make sure you get the right team of experts behind the task and have them tailor your home not only to your personal likings but up to a standard that can be attractive to future buyers or tenants. While this option may cost you more money, at least you can rest assured that your home renovation is being carried out in a timeous and professional manner.

Budgeting is a big issue to take into account. Like in other walks of life, the old adage ‘you get what you pay for’ applies just as well when it comes to renovating your home. The best way to find the balance between what you want and what you can afford is by making a list of all the things you ever wanted around your home and then prioritise them in order from most to least desirable. Look at that list and pick the top items that you can afford the most.

It may be a new patio, a BBQ in the backyard, a swimming pool, a spa, a sauna, a steam room, or doing up the roof tiles again, it may be changing the look of your front wall, or re-painting the inner walls around the house – it could be anything. Ultimately you will need to decide what you want and how much you are willing to pay in order to get it.

Once all that’s been worked out, it would help to consult both a financial adviser as well as a real estate agent.

Rather unsurprisingly, home improvements are among the most popular things most of our clients at SwitchMyLoan.com.au end up spending on after saving thousands of money from having us switch their home loan to a deal with a cheaper interest rate!


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