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Renovating your home

 

Would you like to renovate your home?

As your family grows you may want to renovate to create more space. Or you may decide renovating is a better option for you than moving house at this stage in your life.

What you need to know

Renovating can be expensive but there are a number of things you do to help you fund the changes you want to make to your home:

If you've been making additional repayments on your home loan above your required repayment amount, you may be able to withdraw that money and use it to fund your renovations
With a line of credit you can establish a credit limit and then draw down from this loan without restriction. This type of loan is useful to gain access extra money to carry out renovations, but it is not for everyone. Unless you are disciplined you will find it difficult to pay down this type of loan.
You may be able to find a more competitive home loan. By reducing your interest rates you can save more money towards your renovations

Getting started

Get a good understanding of how much you will need to carry out your renovations and make sure you include a buffer for cost overruns

 

Did you know?

Equity is the difference between the market value of your property and the amount you still owe on your loan.


Count on us

A Count adviser can help you:
Work out the best way to finance your renovations

Find a Count adviser today.

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