According to Domain more and more Australians are choosing to renovate and these figures have continued to increase during the COVID-19 crisis.
So why should YOU consider painting during this time?
LOW INTEREST RATES.
With record breaking low interest rates currently on offer and with more time spent at home due to self-isolation – Why not start that painting?
The banks are encouraging Australians to spend more on their homes to keep our housing industry alive. Have you been following the interest rate decline?
Let’s be honest, when was the last time you had so much time? With social distancing influencing our every move (and for good reason, let’s not forget that); we no longer have a social life; we are spending more time than ever at home.
Our lives are usually packed with work commitments, social commitments and family commitments. We have great intentions of getting those renovations done, but the family tease is ‘when’.
MARKET.
We find ourselves in very unusual times. COVID-19 has hit the Australian economy and almost every industry within it. No one can gives us an answer as to ‘how long’ as none of us have been here before. However, we have been in housing slumps and we have been in recessions. While we are uncertain of the immediate future, we know from past experiences the housing industry will return.
Like any renovation, it is about weighing up the reason you are renovating, the cost involved, and what you are wanting from the future.
Is this a family home you are investing your time and money in? Is the decision to renovate about making space for your growing family rather than return on investment (ROI) in 12 months?
- Do you need to make your home more accessible? Are you wanting to spend as many years as your can in your current home without having to go into care.
- Are you renovating purely for ROI? What is your timeframe? Are you hoping to live in the home for a few years and sell after these uncertain times are passed?
All of these are excellent reasons to continue renovating during this period.
