You might be inspired by the people on The Block and think to renovating your home, then reselling it once you’ve fixed it up. This is a great option for people who want to invest through sweat equity, but you have to be selective on your design choices. While you may not particularly want, say, two or more living areas, but that was among the top 10 features that Australians desired according to the REBAA survey. It pays (literally) to play to your audience.
One major mistake that people make is designing their fixer-upper according to their personal tastes, and that’s fine if you are renovating for yourself. Less so if you are trying to resell. Try to stay away from permanent furniture such as built-in televisions or bookcases. Buyers will likely want to bring their own furniture, so try to keep your interior design and structure as creatively demure as possible. This also applies to quirky paintjobs and wallpapers, or odd structural choices. Keep it average, and you’ll appeal to more people.
Whatever the reason for refinancing, make sure to speak to the Creative FS team about the best way to finance your renovations. We can find the right loan for your needs from one of your 40 lenders.