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 Cotality to learn about your suburb’s growth and property insights. Learn what finance solutions are available to you by scheduling a call with one of our property finance specialists 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 a suburb's growth, demographics and facilities through an Avant Property Report provided by Cotality# and speak with one of our property finance specialists to determine your borrowing capacity and obtain pre-approval.
#Digital property profile reports (Property Reports) are produced by RP Data Pty Ltd (ACN 087 759 171) trading as Cotality. Avant Finance and its related entities (Avant) are not responsible for and does not make any representations as to the content in the Property Reports (including whether any information is accurate, complete and not misleading). The Property Reports are provided to you on a non-reliance basis and Cotality also does not make any representations to you as to the content of the Property Report. Neither Avant nor Cotality is liable for any loss, damage or injury suffered (even if caused by negligence) as a result of using or relying on any such Property Report.
See how much you could save by paying extra repayments or having a lower interest rate.
Disclaimer: All applications for credit are subject to eligibility and credit approval criteria. Approval of any loan is subject to standard credit assessment and is at the lender’s complete discretion. Terms, conditions, fees and charges apply. Contact Avant Finance for further details.
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Some of the benefits of a home renovation loan can be:
• Flexible repayment options
• Flexible access to funds
• Competitive interest rates
The funds are available for many types of home renovations, 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 Cotality. They are an Australian leading provider of property insights and analytics.
Disclaimer: All applications for credit are subject to eligibility and credit approval criteria. Approval of any loan is subject to standard credit assessment and is at the lender’s complete discretion. Terms, conditions, fees and charges apply. Contact Avant Finance for further details.
#Digital property profile reports (Property Reports) are produced by RP Data Pty Ltd (ACN 087 759 171) trading as Cotality. Avant Finance and its related entities (Avant) are not responsible for and does not make any representations as to the content in the Property Reports (including whether any information is accurate, complete and not misleading). The Property Reports are provided to you on a non-reliance basis and Cotality also does not make any representations to you as to the content of the Property Report. Neither Avant nor Cotality is liable for any loss, damage or injury suffered (even if caused by negligence) as a result of using or relying on any such Property Report.
