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How To Finance Your Home Renovations

This post is brought to you by Newcastle Permanent

Renovating your home can be a fabulous way to add serious value to your home and improve your prospects at resale.  Interest rates are low and property prices are high, so renovating does appear to be an attractive investment option.  So the big question is, once you have picked out your new bathroom or kitchen, how are you going to finance it?

Here are some of the more common financing options when you don’t have the cash to pay for the renovations up front.

(1)    Take out a home equity loan or line of credit.

A line of credit or home equity loan is a loan against the value of your house but unlike a mortgage which must be used to purchase your home, a line of credit can be spent on anything, including renovations.  A line […]

By |December 5th, 2013|Mortgages|10 Comments

Investing In Property: Investing Basics Part 6

The Money Mummy Guide to Investing is back and this week we are going to look at the risk and return characteristics of property investments and how these could fit into your overall investment strategy.

Now as Australian’s we are renown for being in love with property.  It is easy to see why, residential property has been an amazing performer, such that we now have some of the most expensive residential property in the world.  I will have to admit, I have a bias against Australian residential property as an investment, right now.  Simply because on most measures it is simply unaffordable.  How many people do you know who are struggling to buy a property?  So despite low interest rates, in my view there is little room for property prices to keep on climbing.   (I will also admit that I said this five years ago when we brought our family home, […]

By |July 4th, 2013|Investing Basics, Investment Types|0 Comments