Although upsizing can be a dream, it also comes with its fair share of stress, upheaval and expenses.
Maybe a renovation is in order instead!?
If you’re thinking of renovating there are always a few things we need to know before we recommend the right lender.
If you have enough equity in your home now to cover the renovation and the renovation is non-structural (that is we aren’t adding on, knocking down walls or changing the roofline) we can generally fund renovations without needing to go down the path of progress draws.
Be aware that once you start your renovation, previously unseen issues with the house can present themselves meaning budgets can be stretched or blown pretty quickly.
We’ll usually allow for some extra costs to be covered on top of your renovation budget just to make sure these events are provisioned for. You’ll only pay interest on the money you actually use, so if you don’t need it, don’t use it and we can adjust the loan amount and repayments when you’re finished.
So here are our recommendations before you renovate:
Give us a call at Bribie Island Lending so we can assess whether this might be an option for you.
We are based on the beautiful Queensland coast, between theSunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
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