Renovating your kitchen with refinancing capital

The kitchen is the focal point of many Australian homes. It’s not just for cooking dinner, but it is increasingly becoming a place for people to sit down, relax and talk to their family. This might be the reason why so many people wish for a better, more comfortable kitchen – in fact, the Housing Industry Association tells us that kitchens and bathrooms took centre stage in the recent recovery of the renovations industry.

But large renovations can be expensive, particularly if you have grand designs. This is when refinancing your home loan to unlock the equity that you’ve accrued so far could be an excellent decision – but what could you do with the capital?

Have you got some grand designs for your kitchen?

Better storage for fresh produce

A recent study from McCrindle revealed that a third of the average shopping trip nowadays is made up of fresh fruit and vegetables. More Aussies are obviously taking an interest in improving their health, but it’s not much use if you can’t store all those healthy goodies!

Home loan refinancing gives you the chance to improve your quality of life by opening up capital to purchase a second refrigerator, or even a deep freeze if you’re so inclined. By taking better control of your equity, you could be taking better control of your diet too!

Home entertainment

We mentioned how the kitchen is a prime zone for connecting with the family, but just how do you capitalise on this? A recent Nielsen survey found that nearly every generation had one leisure activity in common – watching television. While many people snub TV as an anti-social activity, just think of how many conversations have started around the most recent episode of a mutually favourite television show?

Your kitchen could be a great place to put a screen, giving you the chance to connect with your family or even follow along with your favourite cooking program. All thanks to the power of home loan refinancing.

We often like to recommend that people take their home equity and reinvest it back into property – and one of the best ways to do that is to improve what you’ve already got! You could open up a chunk of change, get a start on your next home loan deposit or reduce your monthly repayments, just by sorting out some refinancing. And that’s just one way a mortgage broker could help you along your property journey!