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Renovating options

Sometimes moving isn’t the best way to get the home you love. If you are considering renovating, we are here to help you Resolve it.

Renovating options

Sometimes releasing the potential of your current home with a renovation is your best bet.  It’s a great way to stay in a neighbourhood you love, while adding value to your home and your life.

 

Ready, set, Resolve it

Before you knock down any walls, give Resolve a call.  We can look at the current value of your home and give you a good estimate of the value you can expect once the reno is complete. This is a smart way to establish a budget for your project – after all, you don’t want to over or under invest.

Your options

Once you’ve decided to go ahead and renovate, there are a few good funding options to consider. Your Resolve Mortgage Broker will talk you through the options and help you find a loan that works for you.

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Use equity in your home

If you have enough equity in your home, you may be able to top-up or redraw on your current loan. These are both popular options and can provide a fast fix at a minimal cost.

Personal loan

If you don’t have quite enough equity in your home, you might find a personal loan is the best option to fund the work.

Construction loan

For larger projects, a construction loan can often be a smart option. Talk to your Resolve Mortgage Broker and they’ll give you a simple breakdown of how it works and whether it’s a good option for you.

Frequently asked questions

There are a few important things to consider when making your decision: what is my reason for renovating, how much longer will I stay in this home after I renovate, will the renovation give me added value, will my property compare with others after the renovation.

There are many factors to consider when working out which loan is best for your project. These can include: the total cost of the renovation, the equity in your home, the value of the finished product and the total repayments once complete. Your Resolve mortgage broker will work with you to discuss these factors and establish which loan will best suit your needs.

At Resolve, it’s our job to make sure the finance process is handled seamlessly so you can focus on the important things. First, we will consider your individual situation and current home loan and then we will help you navigate your options. Finance can be confusing but we’re here to Resolve it for you.

Your Resolve Mortgage Broker will have access to property reports which may help you in the decision-making process when it comes to moving versus renovating. These reports can tell you the approximate value of your current home, the value of the home you are looking to purchase, and the projected value of your home after your renovations are complete.

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Let’s chat

Not only will your Resolve Mortgage Broker work with you to find the best finance option for your renovation, we can also liaise with your builder to streamline the process, so you can do something more interesting – like planning your reno-party.

Talk to us
You can also give us a call on 1300 883 292