Home loans customers 'can make millions from property'

Tuesday 11 August 2009

Article by Mozo

Those comparing low interest home loans with a view to renovating and profiting from a property might be interested in a recent article appearing in the Daily Telegraph.

It noted many of the country’s millionaires have made their fortunes through investing in the residential sector.

Archicentre managing director Robert Caulfield explained renovating a house can boost the lifestyle of the people living there.

He urged those looking to make money from it to be cautious in what and where they buy in order to maximise return on investment.

Mr Caulfield told the newspaper: "Homeowners need to recognise that renovating for profit is similar to running a business, where costs and profits need to be managed accurately and constantly monitored."

The residence must also be structurally able to be renovated for the project to be a success, he added.

Meanwhile, it was recently suggested home loan providers could soon face rising bills as lenders look to second guess the Reserve Bank of Australia’s next move.

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