It’s a tale as old as time: boy buys house, boy renovates house, boy sells house for loads more than he originally paid. While all this may well be true, and may make for a storybook ending, there are, in fact, several additional reasons why renovating could be your greatest investment to date.
- Avoid the costs of moving, or cleaning for that matter.
Might sound like a funny one, but frequently relocating can be incredibly laborious, time consuming, physical and can eventually prove itself to be an unnecessary drain on your financial resources. The same goes for cleaning! No matter how many overtly expensive cleaning products you purchase, if your kitchen or bathroom is dark, dingy and has a look one would associate with the prehistoric era, no amount of scrub-a-dub-dub is ever gonna change that! Investing in sound renovations can greatly modernise, improve and rejuvenate the look and feel of your home, and ultimately, make it one worth sticking around for.
- To increase your rental rates.
Even if you own a fully paid-off investment property, you still have monthly, quarterly and yearly rates to contend with. And, if your said investment is bordering on the state of depletion, or looks less present-day more Pleasantville, this will seriously affect the level of rent you can, in good conscious, charge. While renovating may cost you income in the short-term, it has the potential to pay dividends in the long-term.
- Make your home more eco-friendly/energy efficient.
More and more people these days are seeking out eco-friendly, energy efficient homes, primarily due to the hundreds a year they can potentially save on utility fees. While most agree these types of improvements pay for themselves, the nature of these renovations may require slightly more investigative research and financial funds than others. As such, these enhancements may be more attainable via the acquisition of a personal loan. At NOW FINANCE, you can check your personal interest rates faster than you can boil an egg, which you may find are lower than those currently on offer at your usual financial institution. Plus, bear in mind that if something’s trending, it’s easier to sell, so, the more energy efficient, the more do-re-mi!
- Increase your entertaining space.
If you love to entertain but have no will, compulsion or desire to move, refurbishing your major living areas could prove to be a more highly appealing, cost-effective option. Alternatively, if you’re a parent whose kids just won’t leave the nest (argh!!), or you’re individual who has a tendency to invite guests who simply overstay their welcome (double argh!!), extending your living quarters is a fantastic way to both reclaim your personal space and avoid excessive cluster.
- Avoid embarrassment!
Got the opposite problem? Are you hiding out because you’re too embarrassed to invite anyone round? Are you too embarrassed to admit you’re embarrassed by your living quarters? Then this may be a good time to renovate! In Australia, a basic refurbishment averages anywhere between $30 000 – $60 000, which may sound like a lot, but the cost can save a lot of serious humiliation and structural concerns. If you’re skint on funds, NOW FINANCE can score you an attractive loan rate in less than 3 minutes, whilst providing total transparency and support – lets face it, you’ve taken showers longer than that! Now is the perfect time to come out of the woodwork and get serious about your renovations!
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