From now on, renovate your house and “fix your home pay later”

Well, our family home is an asset that is very dear to our heart, usually, no one sells it, even in grave situations. But in today’s capitalist society, if you are getting a better deal somewhere else people think why not sell this one and shift to some other place. If you have made up your mind to sell the house, then you would want to sell the house in handsome amount . Most people after deciding to sell, turn their back, because before selling the house, you need to renovate it so that in return you could get a hefty check. But the cost of renovating becomes a burden for common Australians. If you will sell the house without renovating the price of the house will be much lower.

So, if you are willing to renovate your house before selling it, there is a way, and that way is named as “fix your home pay later”. Yes, many construction startups have introduced this concept where one has to bear no cost of renovation till his/her property is sold in the market. Still scratching your heads, let’s understand in detail.

‘Fix your home pay later’

According to the scheme ‘fix your home pay later’, the renovation company would incur all the costs of renovation your house which include the cost of almost everything from, interior design, wall painting, exterior painting, rooftop renovation, floor renovation, and many others. Yes!!! you heard it perfectly alright, no penny of yours is needed, but this relief is temporary, as once the renovation is done and you sell the property in the market after then they would collect their fees.

But there’s a subtext that remains unnoticed by many is that in case if your property remains unsold, there is a time given by these companies in which if your property is sold then you would only pay the amount, which is their charge of renovating. But, if your house remains unsold for that given time, then a fixed rate of interest will be charged.

Positive extractions

The first and foremost advantage of the “fix your home pay later” scheme is that it has relieved the common people of Australia from the burden of loans, that they used to take while renovating the house.

Negative Extractions

While as we know each coin has two sides, the same is the case with the “fix your home pay later” scheme. Well on hearing for the first time it may sound beneficial and helpful but one must not indulge in such schemes before gathering full knowledge otherwise they may find themselves in a pool full of loans.

Person who would buy the house from you will be investing a huge sum of money, so he/she may come many times for checking the property. And if during all this, the selling period runs out, then you had to pay interest to the company which is in the range of 7 to 8 percent.

As the days would increase, you had to pay interest in addition to their fees for renovating. This total sums up to more than the income of an average Australian.

So, what to do?

The way by which you could benefit from “fix your home pay later” is by finalizing the deal of selling your house before the commencement of renovation. Fixing the buyer before gives you the satisfaction that as soon as the renovation is done, a buyer is there to take it, thus, you are saved from paying a huge rate of interest.