If you are thinking of doing home renovations on your Perth area home, you may be wondering when is the best time to follow through and get the work done. We have provided numerous home extensions and second storey additions to clients in the Perth area, and more than half of them have asked that very question.
We see two main factors that usually help decide: affordability and timing.
Affordability
One of the biggest benefits to renovating and improving your current home is that it costs less to do so than it does to buy a larger home. In addition, you don’t have to go through the hassle of buying, selling and moving. However, you need to make sure you either have the capital to make the renovations or can obtain financing to make the changes.
Since the right home renovations will increase the value of your home, banks are usually happy to finance renovation, especially in capital city markets such as Perth. We will be happy to provide an estimate for you. Then, you can consult the mortgage broker of your choice and see what they can do for you. With today’s record low interest rates, you may be able to refinance your home loan and pay a lot less money than it would have been for the same loan a few years ago.
Timing
We mentioned one of the bigger aspects of positive timing, at least for the next six months: record low interest rates. Renovating and refinancing may never be this cost-effective again. The other timing factor to consider is whether or not you can handle the renovation process right now.
At Next Level Extensions, we are great at being non-intrusive to your current lifestyle. For home extensions, we finish the extension with no intrusion on your lifestyle. The only intrusion is when we provide an access or entry point between the extension and your current home.
To learn more, call Next Level Extensions today: 1300 948 094.