Finance focus
Renovations to future-proof your home

There are many benefits to renovating your home. Renovations add value to your property, whilst also giving you the opportunity to improve your lifestyle. For those looking for more space, it may also be a more cost-effective option than buying a new place, considering the cost of agent’s fees and stamp duty.

If your current home no longer serves your needs, it may be a better idea to give your property a facelift than sell up and move. Here are some renovation ideas to future-proof your home. But first, why renovate?

Reasons to renovate

Where you spend your money will depend largely on your motives for renovating. Here are some things it pays to consider when renovating your home to make it future-proof.

The kitchen
Updating the kitchen offers great bang for your buck in terms of your property’s resale value. According to Domain, spending $10,000 on a kitchen reno could improve your home’s value by as much as $50,000! It can also go a long way towards improving the long-term liveability of your home.

When planning the design, consider how your family’s needs may evolve over time. If you’re having more children, will you need a larger kitchen where everyone can gather? Would a breakfast bar be useful for informal dining? Perhaps energy-saving appliances are important to you in the long-run?

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Renovating your bathroom allows you to improve functionality, increase storage space, address problems like mould and leaky fixtures, and enhance energy efficiency. Even simple enhancements can make your bathroom more durable for years to come and add value to your home. If you can add a second bathroom, even better.

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Living areas

When future-proofing your home, consider the communal living areas and how your needs might change in coming years. For example, you may like to renovate to include a second living room that could double as a toy room. This area could function as a study during the kids’ teenage years, then as a reading nook when you’re older.

Upgrading the flooring or repainting the walls in your living areas are relatively inexpensive enhancements that can add value. Choose durable flooring to suit your family’s long-term needs, and neutral tones that offer wide appeal. Limit the use of carpet as it wears quickly. Don’t forget to consider renovations that could maximise outdoor living areas.

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We hope you’ve found these renovations to future-proof your home handy. If you’re feeling inspired to renovate, your mortgage broker can explain your finance options. For example, you may be able to refinance and unlock the equity in your home to pay for your renovations. Get your renovation dreams off the ground – get in touch with your local mortgage broker today.


The information provided is general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances. Your full financial situation will need to be reviewed prior to acceptance of any offer or product. This article does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.