If you’re an ex-pat living in Australia, you might have caught the home renovation bug sweeping Australia. While some people are happy to compete in TV shows that cover the cost of the work or even the whole mortgage, many more are investing their savings in their property by carrying out improvements.
Why not move home?
For some people, moving may not be an option, but improving your current home may make financial sense on many levels. As well as gaining a new improved home, it’s a chance to avoid costly moving costs and stamp duty. Some people are deciding to take advantage of lower interest rates and leverage the extra equity in their property with a mortgage top-up in order to finance renovations. Others are using their savings to potentially increase the value of their home.
Embracing the latest trends
Interior designers are suggesting that warmer tones are making a comeback, with bronze, polished nickel and industrial silver all popular, and a resurgence in the popularity of marble in warmer tones of brown and green. Warmth seems to be a practical priority, with many people opting for rugs underfoot as well as hanging on walls. Along with this is a sense of homeliness, with plush comfortable sofas in velvet and other soft fabrics.
Remodelling with practical, multi-use rooms
Many people feel that the kitchen is the heart of the home, and renovations include expanding that space to incorporate not just a dining or social area, but also outside spaces and entertainment. From enlarged kitchen islands used as a dining area to sliding glass walls opening into the garden, the kitchen is often the starting point for major redevelopments. Amongst practical developments, ceiling showers with self-cleaning technologies are rising in popularity for a touch of everyday luxury.
Make a detailed plan before you start
A number of apps are available to help you plan, before you spend a lot of money on materials that don’t suit the space or your tastes. Paint My Place allows you to simulate how a room would look with a vast range of the world’s leading paint brands, and Dream Floor provides similar tools for flooring options. Mark On Call is an app from American interior designer Mark Lewison which lets you put together a whole room, right down to the smallest detail. Once you’re sure what you want to do, you can make a plan on the scope of the work and a budget. Don’t forget that if you’re removing walls or looking to extend, then you may need to contact your council for planning permission.
International payments to help you raise the roof
If you need to transfer savings from overseas to finance your renovations, we can help with great value international payments with low fees and a range of tools to help you manage your funds throughout the renovation process.