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3 Reasons Why You Need To Renovate Your Home

The freedom of being able to renovate your own home to your own tastes is one of the main attractions of investing in real estate. Purchasing a renovator’s delight can make getting into the property market more affordable and provide many benefits.

Renovating can enhance your lifestyle and increase the property’s value long term. You can save on moving and avoid disrupting your children’s life by moving them to other neighbourhood or school. You can improve on the functionality of a home and put right poor workmanship.

Whether you’re looking for financial gain or to simply create your dream home, renovating has its advantages. Here are 3 of the top reasons why you should consider renovating your home.

Enhance the property’s value

Whether you’re wanting a quick return on an investment or in for the long haul, renovating can be a great way to enhance the value of your property. Improving a home can increase your sales potential, especially in a competitive market, or be your nest egg for retirement.

For inspiration on how you can improve your home, research luxury home builders in Melbourne, London, New York and other major cities. This will show you want you can achieve with a variety of homes. When you’ve made the decision to renovate, speak with a local real estate agent before you knock down any walls.

This is especially important if you plan to flip the home quickly or only wish to live in it for just a year or two. Over capitalising is a common mistake and can reduce your profit margins significantly.

Increase functionality

Renovating gives you the opportunity to increase the functionality of the home. Not only do decorating styles change over time, the way people live within their homes does too. You only have to scour Pinterest or Houzz for a few minutes to notice open plan living is far more popular these days than closed off rooms.

Choose to renovate and you can make a big impact on the layout of your home. One family bathroom may simply not suffice and an ensuite may really make a big difference. Extending the back of your home could give you a greater living space. Going up could be what you need to make the more family-friendly.

Improve the home’s eco-footprint

There is a whole host of modifications you can do that can make your home more eco-friendly and save you money in the long run. The prospect of never paying another electricity bill is very appealing!

Solar panels, grey water systems, low-flow showerheads, energy efficient appliances are just some of the ‘green’ improvements you can make during your renovating. You can also change the materials like your installation or flooring to reduce your home’s toxic load.

It’s important to remember that while some of these modifications may cost more initially, long term you’ll be making savings to compensate the initial outlay. You can check with your local council whether there are any grants or finical incentives to make these improvements more achievable. From a resale perspective, homes with a reduced eco-footprint may also be more desirable in your area.   

Still not convinced renovating is for you? If renovating seems like all you’re going to do is inherit another home owner’s problems, starting from scratch may be a great alternative. To reduce costs, look for vacant blocks in regional areas. Geelong land for sale, for example, is much more affordable than finding a plot in central Melbourne.

Just like with renovating, gain some inspiration about what you want to build before you purchase a property. Once you know what you’re after, crunch the numbers. You may find renovating, after all, is a more cost-effective way to get you the home you love.

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cFIREsim Review

9 to 5 till 65, but truth be told odds are you’ll have to work longer than that.

Most people are now working well into their 70’s. Whether that’s for financial reasons or just so they have something to do it is the truth.

The other side of the crowd are those who are retiring in their 30’s and living a life most can only dream of.

Whichever group you fall under the cFIREsim calculator can help you reach your goal. Read More

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5 Ways To Make Extra Money While Working Your 9 To 5

There’s far too much month at the end of your budget. I have felt that more often than I care to admit. But,
there are ways to help you out, side hustles you can do on your off time that can help make your finances that much easier.
Read More

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How To Spot A Fake Rich Person

ow-to-spot-a-fake-rich-person
All of us would probably like to have a little more money. It would be nice to not to have to worry about paying the bills and be able to do whatever you want at any time. However, some people try to make it appear as if they are a lot richer than they actually are. While they can sometimes pull this off, there are usually some tell tale signs that can allow you to identify someone that is fake rich.

Their Things May Be Knock Offs

The fake rich may look the part with the clothes that they are wearing but on closer inspection, these may not be what they seem. They will often be cheaper imitations of designer clothing that cost a fraction of the price. There will usually be subtle differences in the designs of these clothes that will give this away.

Their Car or House May Be Leased

A fake rich person may be driving around in a fancy car but this does not mean that they have gone out and bought it. It is far more likely that the car has been leased. If you were lucky enough to win the jackpot when you play casino games at Wild Jack Mobile then you could afford whatever car you wanted.

They Constantly Seek Validation

The fake rich need to be reassured constantly that people understand just how rich they are pretending to be. They will often find ways of leading the conversation around to their latest purchases or a holiday they have just taken. They may become very skilled at getting people to ask them questions about their life and this can help them to validate the decisions that they have made. Or they may use clever means of fradulently convincing you that they have business or stock market success.

They Show Off

Fake rich people will take every opportunity that they can to talk about their supposed wealth and the things that they own. They may be particularly keen to point out the things that they have that you do not. While this type of behavior can be very irritating, you should try to remember that in reality, their life is nowhere near as good as they are trying to make it seem.

They Have A Need To Have The Latest Products

When a new phone or another piece of tech is released, then a fake rich person will often make sure that they are among one of the first to get this product. They will also take every opportunity to make sure that other people see them using it so they can be sure that everyone knows they have it.  Again, these products would probably have been purchased with credit rather than the person buying it outright. These are typically cars, designer clothing or watches purchased on credit.

One of the problems with maintaining a fake rich lifestyle is that people have to work incredibly hard to keep it up. It can be very difficult to stay within their means and they will often find themselves living from paycheck to paycheck. Ultimately they will probably not be as happy as they work so hard to seem.

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How Much Interest Will I Earn On 1 Million

A few weeks ago we discussed if you could live off a million dollars. Another mental exercise people will do is figure out how much interest will I earn on 1 million dollars? Read More