Australians are keen renovators, and with good reason. A well-planned home improvement can add value to your home as well as transforming it into a more comfortable place to live – the sort of home you’ve always wanted.
Renovating is often more affordable than moving. It involves
none of the expenses associated with buying and selling property, so every dollar goes towards creating your ideal home.
No matter whether you plan to paint and decorate, landscape the garden, modernise your kitchen, add a new bedroom or bathroom, your home equity could offer an affordable source of funds to complete your renovations.
Home equity is the difference between your home’s value and your loan. If you’ve owned your home for some time or made inroads into your mortgage, chances are you’ve built up valuable home equity.
Your local Mortgage Choice broker can meet you at a time and place that suits you to work out how much equity you’ve built up in your home and explain how you can tap into it to fund your home improvements.