4 weekend renos to add value to your property - and how to pay for them

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According to Mozo property expert Steve Jovcevski, there are two keys to a successful weekend renovation which will add value to your home: preparation, and an airtight budget.

“A weekend reno might only take you two or three days to complete, but you should be planning it for a week beforehand,” he says.

When it comes to your budget, making sure you have a clear idea of the costs involved and the funds to backup your renovation dreams is key. One way to be sure you won’t run out of budget halfway through is to take out a low cost personal loan.

“Often it’s better to borrow the money and know you have it, rather than panic and start cutting corners halfway through a job because your savings are running out faster than anticipated,” says Jovcevski.

Check out some of our top personal loan picks for your renovation, then scroll down for Jovcevski’s top 4 bang-for-your-buck reno ideas.

RateSetter Unsecured Personal Loan

Key features

  • 8.16% interest rate (unsecured, 8.67% comparison rate**)
  • Borrow from $2,000
  • No monthly service, early repayment or exit fees (application fee applies)

Perfect for quick weekend renos, you can borrow starting from $2,000 from peer-to-peer lender RateSetter with a low fixed rate and no ongoing fees. Plus, the application process is online, super easy and you can hear back within one business day, so your home improvement plans won’t be delayed.

Harmoney Unsecured Personal Loan

Key features

  • Interest rates from 6.99% (unsecured, 7.69% comparison rate*)
  • Borrow from $5,000
  • No ongoing service fee (application fee applies)

If you’ve got a larger weekend reno in mind, the Harmoney Unsecured Personal Loan comes with super low fixed rates for borrowers with excellent credit. You can choose to make repayments weekly, fortnightly or monthly, plus make fee-free extra repayments to chip away at your debt a bit faster and save on interest.

St.George Unsecured Personal Loan

Key features

  • 8.49% interest rate (secured, 9.60% comparison rate*)
  • Borrow from $2,000
  • Apply online, receive a response in 60 seconds

For a low rate loan from a major lender, it’s hard to go past the St.George Secured Personal Loan. It comes with fixed interest rates so you can easily keep track of your monthly repayments budget and you can borrow amounts starting at $2,000. Keep in mind you will need a vehicle to put up as security for this loan.

HSBC Unsecured Personal Loan

Key features

  • Interest rates from 9.50% (unsecured, 10.06% comparison rate*)
  • Borrow from $5,000
  • Easy and quick online application

Another one for those bigger renovation projects, the HSBC unsecured personal loan comes with low fixed rates for creditworthy borrowers, and you can choose loan terms between 1 and 5 years. Repayments are made on a monthly basis, plus you have the option to make fee free extra repayments to save on interest.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Didn’t find the loan you need? Head over to our personal loan comparison page for some more killer options.

Top weekend renovations

According to Jovcevski, “a good weekend renovation can cost $3,000 - $5,000, but if you get it right, it can add tens of thousands of dollars in value to your property.”

So which renovations will net you the best return on your investment of dollars and elbow grease?

Reno #1: A new coat of paint - for everything

Don’t just limit yourself to walls and doors, is Jovcevski’s tip when it comes to freshening up your home with a lick of paint. “You can also rejuvenate dated tiles or kitchen cupboards with a crisp new paint job - but be careful. There’s a particular technique to this kind of work and if you don’t do it right, your room will look worse than when you started. Do your research first,” he says.

The good news is, if you do a really good job of repainting, Jovcevski estimates you can add an extra $10,000 - $30,000 of value to your property, while shelling out just a couple of thousand dollars for the paint.

Reno #2: Improve curbside appeal

First impressions count, so look to your front yard when coming up with quick and worthwhile reno ideas. Focus on improving street appeal by manicuring lawns, showing gardens some love, doing maintenance on the roof, door, gutters and window panes. “One thing that can make a small renovation look like you’ve redone the whole house is to repaint the front facade in a nice neutral tone, with a contrasting colour for the front door,” Jovcevski says.

If you go the whole hog, from laying out new grass and planting trees to fixing old gutters, Jovcevski says you might spend $5,000 all up - but you could be adding triple that in value.

Reno #3: The “fixtures and fittings” reno

Don’t have the time or funds for a full bathroom or kitchen renovation? Instead, try just focusing on the cosmetic appeal of these rooms, by replacing dated taps, sinks, vanities or appliances with modern options. This is a good option for houses that are in pretty good nick to begin with, and just need a bit of a facelift.

“You may have to get a plumber in, which can take your total cost up to around $6,000 or $7,000, but you’re adding value in key areas of the house where potential buyers are most likely to be looking for something nice and new,” Jovcevski adds.

Reno #4: Show the backyard some TLC

Finally, take a look in your backyard. If you’re organised try adding some outdoor seating, an appealing privacy screen or even some decking over the weekend. To go all out with a garden revamp and some decking, you might be looking at a price tag of around $5,000, which Jovcevski says is worth it in the right conditions.

“It’s generally more expensive to revamp the backyard than the front, and in terms of dollar value, the front yard is probably a better investment,” says Jovcevski. “But redoing the backyard adds value if you’re looking to sell soon, or if you just want a lifestyle upgrade for yourself.”

There you have it! If you’d like some more renovation inspiration check out these ideas for improving the value of your home, or if you’re ready to get started, make sure you find the perfect personal loan first!

**Comparison rate based on $10,000 over 3 years

*Comparison rate based on $30,000 over 5 years.

The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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