Renovating

Access the equity

The Golden Rule; Don’t spend more on your renovation than the worth of the best house in your street. You need to make sure that you will recoup the amount that you plan to spend. The prices in the area are a good indication of how much you should spend or a real estate agent or architect will be able to help you estimate how much to spend and what your returns may achieve.

An architect can work with the assets your house has, for example an architect may be able to help reorganise your floor space so you have more living area and less dividing walls. An architect will also help you utilise natural light and heat sources.

Accessing the equity in your home will come down to the valuation of your property less the existing loan amount to arrive at available equity. With accessing the equity you may split your loan, set up a line of credit or even refinance the whole facility to suit your requirements and lifestyle.

Selling

If you are planning to sell your property in the near future, you need to consider the tastes of potential buyers. Renovations that are most likely to increase your resale value are a new kitchen, an extra bedroom or study, or an entertainment area such as decking or landscaping.

There is also little use spending money renovating a house that is structurally unsound. It will mean that you won't get the return on your investment.

Neomoney can help you find the right loan facility for you to renovate your home, you just need to work out exactly how much you want to spend on your renovations and where you want to spend it.

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Enquire Now to learn more, how to save yourself time and money on Accessing Equity in your property. Click on "Enquire Now" and we'll call you back to discuss your needs.