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Renovating can breathe new life into your property without the hassle of relocating or moving to a new area. Plus, it can be a lot of fun and something to be proud of – after all, you’ll be designing and co-creating the place you call home.
The other option is to pay for renovations using your savings. While this might seem like ‘free’ finance, in that you won’t pay interest on loan, it’s always important to factor in the opportunity cost of your savings. A way to do this would be to compare the income or interest you could receive on your savings compared to that charged on a loan. If the interest and fees paid on a loan is lower than what you could earn from your savings, then you may want to consider keeping your savings and taking out a loan instead.
3. Accentuate with accessories
After that fresh coat of paint, what better way to breathe new life into a space than freshen up with new accessories. Plush pillows, stunning mirrors and artwork or indoor plants can breathe new life into a dated interior without breaking the bank.
4. Don’t be afraid of marketplace
Not everything has to be bought new! Shop around to see what options you can find for either used or ex-demo furniture. You may be able to achieve your desired look at a fraction of the cost.
This article provides you with factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. Neither Pepper nor its related bodies, nor their directors, employees or agents accept any responsibility for loss or liability which may arise from accessing or reliance on any of the information contained in this article. For information about whether a Pepper loan may be suitable for you, call Pepper on 13 73 77 or speak to an accredited Pepper Money broker.
All applications are subject to the credit provider’s credit assessment and loan eligibility criteria. Terms, conditions, fees and charges apply. Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser.
©Pepper Money Limited ABN 55 094 317 665; AFSL 286655; Australian Credit Licence 286655 (“Pepper”). All rights reserved. Pepper is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647. Pepper Asset Finance Pty Limited ACN 165 183 317 Australian Credit Licence 458899 is the credit provider for asset finance loans.