If you own a home then you know that there is always something that could be renovated and even if it is a newly built home then there is usually something you could improve or add to bring up your property’s value. You might want to make your home more comfortable for you to live in or if you are looking to sell in the near future then maybe you might want to make home improvement that will maximise your property’s value before you put it on the market. Either way, now is a great time to make that home improvement.

Home Improvement and Renovation To Increase Value

To ensure that you get the best bang for your buck you will need to do some planning to put your money in the right places. Not all home improvements bring the same increase in value and it will be a good idea to contact a professional like a real estate agent that specialises in your region to find out what would be best for your home. Usually, home improvement on the kitchen bring a good return on investment as well as bathrooms and gardens. If you are considering adding more bedrooms or bathrooms then as a rule of thumb, you will want to consider keeping the cost of improvements to below 10% of your home’s value.

Contact your local city council for approval on any major renovations since it can lead to a big head ache and major costs if you go ahead on any improvements without approval. Funding your renovations is another major step before getting started. If you do not have the capital available then it might be worth looking into getting an equity loan or possibly a construction loan.

An equity loan can be a great way to gather the funds for home improvements since it can be drawn from your existing equity in your home or you can take an additional loan through your existing mortgage. An equity loan will also give you greater flexibility on which builder you want to use.

A construction loan can be done through your bank and they can choose a builder for you but you will have the bank’s backing throughout the construction process. When you reach out to your bank for an additional loan when you already have too much debt, it might be difficult to get the new loan there. This will be when you will want to contact a debt solution adviser at Australian Debt Agreements to work on getting those debts cleared up so you can focus on your home improvement and renovation.