Save money by renewing instead of renovating

By the resi financial blog team, 03 October 2013

Renewing versus renovating

Renovating your property is a great way to improve the look of your home and add value.

However, undergoing major renovations can be expensive, time consuming and stressful - but you should not be put off from upgrading your home.

There are other ways that you can add value to your home without spending too much money. This can be done by renewing certain features in your home, as opposed to doing renovations.

Here are some ideas to help get you started:

Bathroom

When people picture doing up their bathrooms, it can often involve pulling out old vanities, showers and toilets, and replacing them with brand new ones.

However, to renew your bathroom, there are alternative (and cheaper!) ways of doing this. Instead of replacing vanities outright you can just refurbish the tops, replace tap heads and mirrors.

Tiles can also be installed pretty cheaply, and can make any tired bathroom look fresh and new again.

Kitchen

Kitchen benchtops can get worn very quickly from scuff marks and scratches. So to liven up your kitchen, it may be a good idea to replace bench tops.

Give all of the cupboards and cabinets a good clean, sand and paint, and replace the handles with timeless stainless steel ones.

General areas

There's not always a need to replace carpet in a property in order for it to look good again. Instead, you can choose to get them deep cleaned and shampooed.

Doing this may reveal your carpet's true colour, and help restore it to its former glory.

Curtains can also get moth-eaten and mouldy over time, and are easily replaced - especially if you are quite handy with a sewing machine!

If you do decide to embark on more extensive renovations then you may want to consider unlocking some of the equity in your home loan. For expert advice on mortgage refinancing speak to a resi loan specialist today.

Categories: Home Loans