We don’t just talk finance! So you’ll find everything you need to know about lifestyle here.

House prices tipped to surge 15%, RBA hints at cash rate cut

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Strap yourself in: Australian house prices are tipped to experience a mild COVID-19 dip before surging 15% over the following two years, according to some of the nation’s top economists.

And in more good news for homeowners, RBA Deputy Governor Guy Debelle has hinted at further reductions to interest rates, while not going into negative territory.

Both NAB and Westpac economists have been quick to jump on board the rate cut hype train, predicting the RBA could cut the cash rate by 15 basis points to a record low 0.10% as early as October.

But back to that tipped 15% price surge

Westpac’s Chief Economist Bill Evans and Senior Economist Matthew Hassan believe house prices are set to bottom out by June 2021 after a further 2.3% fall – which would mean a total fall of 5% from the peak in April.

But the good news is they’re tipping prices to bounce back hard and fast across the country.

Indeed, the duo expects national dwelling prices to “surge” 15% until mid-2023, or 7.5% per year, led by massive gains of 20% in Brisbane and 18% in Perth.

Sydney (14%), Melbourne (12%) and Adelaide (10%) wouldn’t miss out on the action, either.

If it plays out as predicted, we could see a cumulative increase in national prices of 10% from pre-COVID highs over a three year period.

“This recovery will be supported by sustained low [interest] rates, which are likely to be even lower than current levels,” Mr Evans says.

Such a rebound would also be assisted by ongoing support from regulators, substantially improved affordability, sustained government fiscal support, and a strengthening economic recovery.

Mr Evans adds the recovery would be further aided “once a vaccine becomes available, which we expect in 2021″.

Got your eye on a property?

For those who are confident in their financial circumstances at present, Westpac’s housing market prediction certainly makes it a tempting time to buy, especially if another RBA cash rate cut soon comes to pass.

So if you’re looking to add to your property portfolio, looking for a change of scene, or keen to buy your first home and break into the market, get in touch today.

We’re here to help you find a loan that’s just right for you,  just talk to us ………..

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Is now a good time to buy property? Two-thirds of investors say ‘yes’

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The majority of property investors are remaining upbeat despite COVID-19, with 67% believing now is a good time to invest in residential property, according to a new survey.

The 2020 PIPA Property Investor Sentiment Survey gathered insights from nearly 1,100 property investors in August, with the key finding that the majority of property investors remain optimistic about the months ahead.

Indeed, two-thirds of investors who participated in the survey said they believe now is a good time to invest in residential property.

Additionally, 77% of investors said any concerns about potential falling house prices won’t cause them to put their investment plans on hold.

Tim Lawless, head of research at CoreLogic, the nation’s largest provider of property information and analytics, echoed the investors’ positive sentiments earlier this month.

“Through the pandemic to date, housing values nationally have slumped by only 2% and housing activity has trended only about 5% lower than a year ago over the past three months,” Mr Lawless said.

“For people with confidence in their own financial circumstances and household balance sheets, arguably this is a good time to be considering a home purchase thanks to the low cost of debt and certainty that rates will remain low for at least the next few years.”

What are investors likely to do next?

Well, almost half of the investors surveyed by PIPA (44%) said they are looking to purchase a property in the next six to 12 months.

“Plus, about 71% of investors have indicated that the pandemic has made it less likely they will sell a property over the next year, which is another factor that will help to underpin property prices,” added PIPA Chairman Peter Koulizos.

Where are investors looking?

It seems many property investors are beginning to look further afield.

More than 40% of those surveyed intend to buy an investment property in a different state or territory to the one that they currently live in.

Queensland is definitely in the sights of investors, with 36% saying it offers the best investment prospects over the next year, followed by Victoria (27%) and New South Wales (21%).

But it’s not just investment properties that respondents were keen on interstate.

One in six investors (17%) said the pandemic has made them consider moving to another location altogether, with regional areas set to benefit the most due to the improved lifestyle factors they offer and an increasing ability to work from home.

Investors indicated their top locations to migrate were regional NSW (21%), regional Queensland (18%), Brisbane (16%) and regional Victoria (14%).

Coastal locations in particular are on the rise – up to 12% from 8% last year.

Keen to buy?

As mentioned above, for those who are confident in their own financial circumstances, now can certainly prove a tempting time to buy.

So if you’re looking to add to your property portfolio, looking for a change of scene, or keen to buy your first home and break into the market, get in touch today.

We’re here to help you find a loan that’s just right for you.   Just call us.

 

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

More than a quarter of SME businesses knocked back for finance

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As if small and medium-sized businesses weren’t already facing an uphill battle this year; now it turns out that more than a quarter were knocked back when they applied for finance in recent months. Here’s how we can help.

The latest Sensis Business Index – which surveyed 1,015 businesses in the first week of August – shows 26% of businesses that applied for finance over the past three months were knocked back.

The figure was worse in the bush with 37% of those applying in regional areas declined, compared to 25% in cities.

Additionally, fewer and fewer businesses are applying for finance.

The percentage of businesses that applied for finance dropped to 13%, down from 16% in March and 17% in December 2019.

How we can help

All of the above figures highlight the importance of having lending professionals like us guiding you through the process.

Here’s what small business lender OnDeck has to say in regards to its recent research on the importance of having a trusted professional to speak to while applying for finance.

“Our survey clearly highlights that SMEs place significant value on the input of a broker in the commercial finance process,” says Robbie Fidler, OnDeck Australia national broker channel manager.

“Brokers can act as a conduit between lenders and SME owners, providing the person-to-person link that is so valued across the SME community.”

Additionally, SME lender Scottish Pacific recently highlighted the important role brokers can play in helping businesses prepare for that September “cliff” you’ve probably heard about.

“When COVID-19 hit and JobKeeper and other initiatives were put in place, September seemed a long way away – it’s only a week away now, and small businesses need to act,” says Scottish Pacific’s General Manager for Victoria, Jane Starkins.

“We are having regular conversations with accountants and brokers who realise their clients need funding in place to pay expenses they have been deferring, including rent, asset finance, PAYG, superannuation and payroll tax.”

Ms Starkins adds that now is an ideal time for business owners to find new funding paths that harness the value of assets already in their business, such as their sales invoices or plant and equipment.

“Business owners are reluctant to extend their borrowings. They are busier than ever trying to navigate the COVID-19 environment, which means accountants and brokers have a crucial role to play in making them aware of other funding solutions,” she says.

Get in touch

If you’re a business owner needing finance solutions to get through the months to come, get in touch.

The sooner we can discuss your options with you, the better placed your business can be to avoid the September cliff and thrive beyond.   Just call us.

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Homeowners refinancing in record-high numbers: explore your options

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Homeowners in record-high numbers are taking advantage of reduced interest rates and competitive refinancing offers. Are you ready to take the leap? 

When times are tough, the belt gets tightened.

And we’ve seen that play out across the country in a big way recently, with the number of Australian families who refinanced their mortgage in May the highest on record, according to the latest figures from the Australian Bureau of Statistics (ABS).

In fact, 33,712 Australians refinanced a whopping $15 billion worth of mortgages in May.

To put that into context, before COVID-19 struck, that monthly figure floated around the $10 billion to $11 billion mark.

Anecdotally speaking, the recent 50% increase in refinancing sounds about right to us.

We’ve been flat chat over the past few months helping families refinance their home loans and save thousands of dollars in annual interest repayments.

Why are so many people refinancing?

First and foremost, the economic squeeze brought on by COVID-19 has made people stop and take stock of where they can make savings in their family budget.

And one possible way to do that is by refinancing, as Australian home loan rates have never been lower.

That’s because, on top of the Reserve Bank of Australia (RBA) dropping the cash rate to a record low, lenders are currently competing hard for your business by offering never seen before interest rates.

ABS Chief Economist Bruce Hockman further explains: “The value of existing owner-occupier loans refinanced with a different bank [in May] was by far the highest on record as borrowers responded to reduced interest rates and refinancing offers.”

So how much can you save by refinancing?

Well, that’ll depend on your individual circumstances and a number of other factors, including how big and old your loan is.

But to give you a lower-end-of-the-scale example, a recent RBA study found that for loans written four years ago, borrowers are charged an average of 40 basis points higher interest than new loans.

“For a loan balance of $250,000, this difference implies an extra $1,000 of interest payments per year,” explains the RBA.

And if your loan amount is higher than the above example – or if your loan is older – then there’s a decent chance that refinancing could save you even more than $1000 in interest payments each year.

What’s your next step?

That’s the easy part – get in touch today.

There’s a reason tens of thousands of families are currently refinancing their home loans: now’s a good time to do so as competition among lenders is running hot. And the longer you put it off, the longer you’ll keep paying your current rate.

So if you’d like to refinance your home loan, give us a call and we can run you through your options and get the ball rolling.   Just call us.

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Season’s Greetings! Here’s to a prosperous 2020!

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With 2019 drawing to a close, we hope you’re shifting into holiday mode and getting ready to relax and unwind.

 

It only seems like only yesterday that the RBA cut the official cash rate for the first time in almost three years. But that was more than six months ago, and the RBA has cut the rate another two times since.

Now the official cash rate is sitting at a new record low of 0.75% – and financial markets now believe there’s a 45% chance of a rate cut when the RBA Board next meets in February.

But enough about rate cuts

Whether you’re celebrating the festive season with family and friends, getting away somewhere nice and relaxing, or working through, we hope you have a wonderful end to 2019

And while you’re enjoying your holiday break,  take the opportunity to review your finances and make some plans for the new year.   If you need to check anything finance-related, please don’t hesitate to reach out to us.   We look forward to working with you again in the year ahead.

So here’s to a prosperous 2020!

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Ever dreamed of starting your own business?

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Ever been tempted to tell the boss you’re leaving to start your own business?   You’re not alone.  In fact, more than nine million Aussies dream about becoming their own boss.

However, the biggest hurdle for 60% of those people (5.4 million) is ‘access to money’, according to research commissioned by the Australian Banking Association (ABA).

The percentage is even higher for women and young people. Indeed, two-thirds of women and people aged 18 to 34 believe access to finance is stopping them from fulfilling their entrepreneurial dreams.

What’s holding most people back?

It’s fair to say there’s no shortage of entrepreneurial self-promoters plugging their brands on Instagram and LinkedIn these days, which could give you the impression that plenty of people are reaching out for business finance.

But small business loan applications have actually declined by 33% since 2014, according to the ABA report.

That is despite 94% of small business loans being approved by lenders, not to mention record low interest rates.

“There could be many reasons for the downturn, including people believing that they won’t get a loan, thinking it takes too long, deeming the application process is too complex, or they’re simply borrowing money from other sources,” acknowledges ABA CEO Anna Bligh.

Why seek finance?

Well, besides obtaining access to the initial capital that’ll allow you to become your own boss, business finance can also allow you to grow your business more quickly.

That’s important, because the bigger your business, the better its chance of survival.

For example, while almost two-thirds of businesses in Australia are sole traders, only 60% of sole traders who were operating in June 2014 were still in business by June 2018.

That number increased to 70% for businesses with 1-4 employees, 78% for 5-19 employees, and 82% for 20+ employees.

Meanwhile, the main reasons businesses seek finance are to maintain short-term cash flow or liquidity (40%), to ensure the survival of business (32%) and to replace equipment or machinery (24%).

Want to get started?

To help prospective small business owners the ABA has created an educational website, which includes a suite of resources demystifying business financing.

Once you think you’re ready to apply for finance, get in touch.     We can review your current financial position and recommend the most appropriate options available to you.   This includes accessing equity in your home at home loan rates.

Just email or call us,  we’d love to help !

 

 

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Your home is not perfect: the value of pest and building inspections

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They say that home is where the heart is. And it’s true that we spend so much of our time, money and emotions in our homes. So it can be hard to truly look at them and think that something could be wrong.

But when you’re selling your home, or looking to rent it out as an investment, any faults or flaws can cost you money.

That’s why it’s a good idea to have a building and pest inspection done before you list your home.

Once its done, if any problems are uncovered, they can be dealt with there and then; if there aren’t any problems, you’ll be able to show potential buyers or renters the inspection results.

This will potentially help you get more value from your property.

Know thy enemy

There are a number of common pests in Australia that can cause problems for homeowners.

The ones most likely to cause trouble are cockroaches, rodents, and bedbugs. Termites are also a serious issue in some areas of Australia, mainly in coastal areas and especially up north.

Cockroaches and rodents carry disease,  ruin food supplies, and leave droppings behind, making the  home unsanitary. They are particularly dangerous to children and pets, though adults can also become sick from contact with these animals or their faeces.

Each of these pests can be difficult to manage on your own, and often require professional treatment to eliminate the problem.

Demonstrating that your home is clear of them can make it possible to sell your home for a higher price.

Additionally, if you’re renting your place out,  you’ll know if the pests entered the property before or after your new tenants.

The beauty of Building inspections

Many buyers will want their own inspector to survey the building before they place a bid.

However, you can also have a building inspection completed before you even consider listing your home for sale.

Building inspectors look for all sorts of faults in a home, from major structural damage to leaking pipes.

Once any problems are identified, you can then make a decision about whether you want to simply   disclose the issue, or fix the problem before you sell the house.

Which solution is right for you depends on the specific damage and the cost of repair.

The one thing you should absolutely not do, as you prepare your home for sale, is to take the ‘she’ll be right’ approach.

There’s nothing worse than having a potential buyer uncover something you should have known about. This immediately makes the buyer wonder what else you don’t know about – or worse, aren’t telling them about.

Final word

Whether you’re looking to sell, or rent, knowing that your property is in tip-top shape can help you maximise the return on your investment, and make smart decisions about pricing.

If you or someone you know would like to find out more about this topic, feel free to contact us  – we’d love to help out.

 

New born’s and New finances

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Welcoming a baby into your family is one of the most joyous occasions of your life. But just like anything worth celebrating , it’s not without its expenses.

How quickly they grow! The bills, that is.

Did you know it costs roughly $300,000 to raise a child from birth to age 17?

If you break that down, that’s $1470 a month. This can put a significant strain on your monthly budget and mortgage repayments.

Rest assured, however, there are several steps you can take in advance to minimise the impact on your new family’s bottom line.

1. Baby essentials

The upfront expenses  of having a baby are really going to put out your budget, hard. So it’s best to obtain the items you’ll need well in advance to spread out the initial costs.

Of course, you can purchase a brand new bassinet, playpen, clothing, car seat, cot, stroller, toys, high chair and changing table.

But chances are you don’t really need that fancy, brand new $1,000 cot.  Instead, focus on the babies needs instead of your wants.

There’s absolutely nothing wrong with obtaining gently-used items second-hand, through trading websites or for free from family members or friends.

2. Your rights to  paternal leave and corporate leave

If you worked before having your baby and made under $150,000 annually, you could be eligible for the government’s Paid Parental Leave program.

You do have to apply, but if eligible you are entitled to 18 weeks of minimum wage benefits (amounting to $719.35 per week before taxes).

There is also a two-week partner and dad pay option available, and take time to look into your company’s leave programs.

3. Plan for Childcare

Unless you plan to stay home with your children or have family members who will help provide childcare,  it is a good idea to get your name wait-listed at several childcare facilities.

Availability is  hugely competitive , so getting on the lists quicker will help in the long run. You can use the Childcare Subsidy Estimate Calculator to figure out if you’re eligible for entitlements.

4. Update your life insurance

It’s not uncommon for Australians to have disability and death benefits through their super fund.

However, while the life insurance coverage may have been adequate pre-children, there’s a good chance it won’t be enough for a single parent to comfortably raise a child.

Additionally, you don’t want to fall into the trap of just insuring the breadwinner in your family. Each member  should have coverage in case something happens to one, or both, of the parents. This can be a complicated area to navigate alone though, so be sure to seek financial advice from a  professional.

5. Future proof yourself…

Even if you don’t have significant assets or debts, you need a Will if you have children.

Not only does a Will specify what your family does with your belongings (including your super and insurance), but it also specifies who makes decisions if you can’t make them yourself, and who will take over raising your child  if both parents pass.

6. Pay off existing debt

If it’s possible, prioritise your existing debt and work on paying it down – or off – before the baby is born.

Once the baby arrives, you may not have a whole lot of spare money to put toward any existing balances. Consider speaking to us about consolidating  debts or refinancing  your loans or mortgages into one with a lower interest rate.

7. Update your monthly budget

One of the best things you can do is update your monthly budget with your newest family member in mind. It’s also great to start living on this budget before the baby  arrives, – start practising living on less.

You can update or create your budget using ASIC’s Budget Planner. Don’t forget to include your quotes for childcare and any new miscellaneous expenses you’re likely to incur.

8. Start an emergency fund

If you don’t have an emergency fund, now is a great time to start one.  Aim to have at least three to six months worth of living expenses saved, with the goal of at least a year’s expenses.

This can provide a buffer that you and your family fall back on if you run into unexpected expenses like an accident, the car breaking down, or something in the house needing immediate replacement.

Final word

Having a baby is one of the most life changing events that can happen in your life.  The last thing you want to be doing during this happy time is to worry about your finances. That’s why it’s so important to prepare as early as possible.

We would love to help make sure that your first few months as a new family are stress free as possible- just talk to us !

How to transform your rental property into an Airbnb sensation

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Each year, tens of thousands of Australians list their properties on Airbnb and are making the switch from long term rental to short term stays.    Below are our top five tips on how to  make your property stand head and shoulders above your competition.

Most people who own an investment property prefer to rent it out long term.  It’s more a set and forget approach.  But for some,  short term letting on platforms such as Airbnb and Stayz is becoming an increasingly appealing option providing additional income and flexibility.

In fact, in 2017 more than 30,000 people listed their homes on Airbnb across Sydney and Melbourne alone.

Below are our top 5 tips on how to transform your property into an Airbnb sensation :

1. Professional photos

First impressions last, and these days the first impression is the website impression of your Airbnb property.

A good photographer has the skills and equipment to highlight the beautiful little details that makes your property sing, and crop out the less  desirable qualities that may turn a potential guest away.

Obtaining high quality images from a professional real estate photographer can be relatively easy, and costs between $150-$300 via websites such as Snappr or Airtasker.

Even if they get you just one extra two to three night booking they’ll have already paid themselves off.

2. Your guests home away from home

There’s no point in having a photographer take wonderful photos of your property only for the guest to show up and feel like they’ve been conned!

You’ll need to put in that extra bit of effort to make their stay memorable. After all, they’ve chosen your place ahead of a hotel,  and all their other Airbnb options.

There’s a good chance your guest is from out of town and visiting your local area.  So try and include local artwork, local guidebooks and information including transport options.

Install comfortable and luxurious bedding and the bathroom should also always be spotless with quality bath towels.  Make sure good quality tea and coffee is available, and ensure all the basic kitchenware is easy to find.

Other tips include providing menus for local takeaway, tips for local sightseeing, entertainment, basic electrical appliances, and some cleaning equipment and products.

3. Play host, but don’t  be That host

It’s important that you’re available to your guest should they need to  query anything.

That may range from “where is the frying pan?” all the way to “where’s the local hospital?”.

It’s critical that you never show irritation towards your guest, no matter how trivial or inconsiderate a inquiry might appear.

That’s because one scathing review can undo a lot of the money, time and effort you’ve invested into building your reputation.

However, it is equally important to give your guest the privacy they require. Be on hand to offer any simple suggestions,but don’t pin them down for hours  chatting  about your own travels.

This is their holiday after all!

4. Consider using a property management service

If  hosting isn’t for you it is worth considering outsourcing your property management to a professional service.

Cath and the team at  Citysleepz   look after a number of our clients properties.  They offer a wide range of services including bookings management,  guest sceening and communication, the meet and greet of clients as well as  the maintenance and cleaning of the property.

Additionally it is important to have the right insurance cover  for your property.  A popular choice with our clients is  Coverwise insurance.  This agency offers a range of covers including Landlord and Building Insurance, Owner Occupied Household  Insurance and Tenant  Insurance.

5. Thank guests for their reviews

Taking the time out to thank every single guest for their review shows you’re a super attentive host who’s always aiming to please.

Additionally, it also gives you the opportunity to further highlight the positive aspects of your property.

For example, if a guest writes in their review that they had great ocean reviews, reply: “Thanks for the review Craig! Stoked that you enjoyed the ocean views from your bedroom!”

The best thing about this trick is that it even works for negative reviews.

That’s because most negative reviews will also mention something positive about the property.    So make sure you thank them for that, acknowledge their complaint and thank them for bringing it to your attention, and advise that you’ve taken steps to rectify the issue for future guests (and actually do so!).

This shows other guests that you’re a very reasonable person who takes all concerns seriously – and will be approachable if they need you during their stay.

Guess who else is approachable?

We are!

If you have any queries or questions about your property and think we might be able to help out, don’t hesitate to get in touch –  we’d love to help out.   Just call us.

 

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

 

3 ways to improve your home without breaking the bank

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You’ve probably been reading a whole bunch of doom and gloom about the property market being in a slump.  Despite this back drop  you can rest assured that its not the end of property as an investment.    Instead, property values may simply returning to the levels seen in 2016.

The good news is that with a bit of creativity  you may be able to increase the price of your property.

And there are key things you can do to improve the value of your home or investment property.

Below are three ways you can increase the value of your property, without  breaking the bank.

 

1.Gardening and landscaping 

It’s time to get those hands dirty!

The good news is that one of the fastest ways to  increase the ‘wow’ factor of your property is to give it a good manicure.

Green is in.  Gardening can be relatively cheap, costing only a little time and creativity to trim any overgrown bushes and redo  the garden bed.

If you don’t have the tools for the job, or you’re simply more of an indoors person, consider hiring a landscaper to help out.

 

2.Fresh paint  and new designs

One of the best ways to make the interior of your house feel fresher is to call in the painters.   Employ an interior designer to give you a fresh new palette of colours to brighten up your home.

The same goes for artwork. Make your home stands out by giving it a bit of character, and it’s not like you have break the bank for an original Olsen.

There are hundreds of talented local artists selling art –  and you can also rent artworks.    Your designer will be able to assist with  art selection.

There’s nothing worse than stepping into someone’s home and having to walk on dirty and stained floor coverings.

It is a sure way to make a perspective buyer immediately uninterested and they’re likely to wonder what’s wrong with the other aspects of the house that they can’t see.

Having a fresh and modern platform for a prospective buyer to stand upon can make a big difference.  You can pick up new floors either from your local hardware store or online.

So, if it’s within your budget, consider giving this part of your property a makeover !

 

3.Bathroom bonanza and my kitchen rules

The bathroom and kitchen are  often rooms that a make or break  a property.

If your bathrooms are moderately new, pay some professional cleaners to come in and get the place sparkling.

Similarly,  there’s no need to rip out the whole kitchen.  Look at ways you can revitalise it with  minimal expense such as  replacing old cupboards or bench tops.

For timeless appeal, use a white or neutral palette and layer with quality fittings and fixtures that complement the rest of your home.

 

The final word

Remember that property improvement shouldn’t cost you more than the value you’re hoping it will add.

It also helps to think of some of the above ideas as adding to your investment – not an expense.

If you’re still unsure where to start please don’t hesitate to get in touch with us  to assist you.

 

To find out whether you can afford to take out a loan for renovations through your home loan or any personal loan, try our calculators.

 

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.