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Renovating your first home

There’s a lot to consider when deciding whether or not to renovate your first home; from how much you can afford to spend, to how much you should spend and where.

How much should I spend?

As a first homeowner you should avoid taking risks when renovating and spend conservatively. To make sure you don’t overcapitalise (when you spend more on a house than what you can wholesale jerseys china sell it for) it’s a good idea not to spend more than 5% of the purchase price on renovations.

So based on the current median national house price of $437,500 (source: ABS), your renovation budget shouldn’t be much more than $20,000.

A well planned and executed renovation can add up to 10% to the wholesale cheap jerseys value of your home, especially if you hold onto the property for five or more years.

So by spending cheap jerseys china $20,000 renovating your average $437,500 home you could potentially make over $40,000 double the money you invested.

Should I wholesale jerseys china renovate?

Just because you can afford to renovate, doesn’t make it the right decision. You should consider all the pros and cons before committing your time and money:Articles Connexes´╝Ü

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