Since the onset of the pandemic, home renovations have increased in popularity as people spend more time working from home. As a result, many homeowners have chosen to invest in making their property more comfortable.
According to a 2022 Houzz & Home Australia report, Australians are spending around 30% more on home renovations than they were pre-pandemic. During the June 2022 quarter alone, Australians spent more than $3 billion on home renovations.
A home renovation can be a great way to increase property value, but extra funds may be needed upfront to get the job done.
Non-bank lender Liberty is helping homeowners to secure finance before breaking ground, presenting flexible solutions beyond dipping into savings.
According to Head of Communications Heidi Armstrong, the cost of tools and materials can add up, so it's important to carefully consider how to finance a renovation project.
"There are a few different finance options available for all renovators, based on the size and scope of your renovation project."
"Depending on your circumstances, you may be able to cover project costs with the equity in your home, through a mortgage top-up, or by taking out a personal loan."
"If you're planning major renovations, you might want to consider a home loan top-up, which allows you to borrow against the equity already built up in your home."
With a proud history of supporting customers' access to flexible home loan options, Liberty strives to provide competitive solutions tailored to the needs of renovators and homebuyers alike.
Whether on the lookout for a loan to buy, invest or upgrade, Liberty is committed to helping borrowers find the right home loans for their needs, when they need it.
"By taking a personalised approach to loan assessment, we can offer timely loan approvals to help people achieve their goals."
Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.
Head of Communications, Liberty Financial
+61 3 8635 8888
Press Release Service by Newswire.com
Original Source: Liberty Financial Has Flexible Finance Options for Australia's Renovation Boom