Thinking about renovating? Good idea!
Renovating is great way to add value to your home as well as making the property more suitable for your lifestyle. Whatever you choose to do, renovating is a big undertaking. That’s why at Liberty we want to make the basics, like picking the right home loan, as easy as possible.
Why renovate?
Renovation is a great way to prepare a house for sale, make it more eco-friendly or simply get more enjoyment out of your home. Before you start planning, here are a few things to consider:
Prioritise
Consider everything you want to achieve then cost it all out. Can you do everything? If not then prioritise your list and budget for luxuries last.
Work out finances
How are you going to finance your renovation? If you already have significant equity in your home then why not use it? Choose our Liberty Max line of credit home loan, which lets you access the equity in your home for a renovation. Talk to a Liberty Adviser to find out more about which home loan option suits you best.
Plan your design
Try to put your ideas on paper so you have something to show potential architects and/ builders.
Do your research
Check out architects and builders online; ask friends who’ve already undertaken renovations. If you see a local renovation you love, knock on the door and ask who did it! It’s vital that you trust whoever is going to work on your property, so check out previous projects they’ve completed and always ensure they are licensed.
Read your contracts carefully
Ensure you read carefully the contracts your architects, builders and other tradespeople give you before you sign. Contracts should state exactly what work will be carried out and by when. If anything is changed or added during the project, make sure it’s written as a variation to the contract and get definite quotes for additional work.
Inspections
Inspect the renovation work on your home regularly to ensure that it’s progressing as you’d planned. If you’re unsure about something, ask questions. If you’re unhappy, say so. Fixing things earlier rather than later could save you thousands. However, be willing to compromise when unforeseen issues arise that require a bit of flexibility.
Finally, remember that while the renovations themselves may be stressful, the finished results will make it all worthwhile!
We think this might be just what you need
Liberty Star
A very low interest rate home loan that has many of the popular features you’d expect.
You may also want to consider
 All the features you want in a home loan with a low interest rate and no fees. |
 Keep it simple with our basic home loans – a great rate and no monthly account fees. |
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