Renovate or relocate
As you grow, your needs and preferences change. The question many homeowners face is, ‘renovate or relocate’. Use our resources below to help you make an informed decision.
Renovate
If you love your property’s location, and there is existing room for you to renovate this may be an option for you. Renovating is equally valuable if your suburb is experiencing capital growth. This indicates the high demand to live there.
Therefore, it may be cheaper to renovate than it would be to sell and repurchase in the area. Instead of a new mortgage for a new home, you may be able to use your home equity to obtain a construction loan or a small mortgage to fund the renovation.
Use the Avant Property Report# generator provided by CoreLogic to learn about your suburb’s growth and property insights. Learn what finance solutions are available to you by scheduling a call with an Avant Finance specialist today.
I was being laughed out of the bank by the managers. They said 'Come back in ten years' time when you’re qualified...' Penny took away the difficulties associated with dealing with the banks, that really enabled us to buy our first house.
"Relocate
Relocating, particularly for growing families, could be a suitable option if there is no time, no space, or it is too expensive to build your ideal home. Additionally, if your current suburb’s features and demographics do not suit your lifestyle, buying elsewhere is worth considering.
Learn about suburbs’ growth, demographics and facilities through an Avant Property Report# provided by CoreLogic and speak with a property specialist to determine your borrowing capacity and obtain pre-approval.
See how much you could save by paying extra repayments or having a lower interest rate.
Some of the benefits of a Home Renovation Loan are:
• Flexible repayment options
• Flexible access to funds
• Competitive interest rates
• Quick and fast approvals.
The funds are available for almost any service, including:
• House maintenance
• Remodelling
• Painting
• New flooring
• Internal repairs
• External repairs.
Construction loans are approved specifically for your large renovation or build. You access those funds as progress payments instead of one lump sum.
For example, the bank may approve $500,000 for the construction, but these funds will be paid via drawdowns according to the progress payment schedule. They will not be made available all at once as they are in a renovation loan.
No, Avant property reports are free of charge. To obtain a property report, simply provide your details on the relevant form and then you will be emailed the requested information.
No, you can request as many property reports as required.
The authors behind the property reports are CoreLogic. They are Australia’s leading provider of the very latest, accurate and powerful property insights and analytics.
Submit an enquiry
Disclaimers
*Eligibility criteria, terms and conditions, fees and charges apply. Contact us for further details and to obtain a copy of our Credit Guide.
#Digital property profile reports (Property Reports) are produced by RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic). Avant is not liable for any loss, damage or injury suffered (even if caused by negligence) as a result of using or relying on a CoreLogic Property Report.
