If you are thinking of doing a home renovation or home extension, 2015 may be a great time for it. Due to what some see as affordability issues, Perth housing market predictions have been adjusted to a prediction of small growth if any. Predictions range from 0% to a 0.2% decline in prices.
Besides affordability, other reasons cited for the flatlining of the Perth market are: sluggish household income growth, rising unemployment and rising cost of living. The fall of the dollar, though, is beginning to influence the economy somewhat.
In December 2014, experts were predicting one or two further interest rate cuts by the RBA. Now, because of the falling dollar, the RBA sees the economy as being on better footing and sees further rate cuts as unneccessary for the time being.
What it Means to You
If you are looking for a larger home, it is wiser to get a home renovation or extension than it is to sell your current home, buy a new home and move. Despite flat market conditions around Perth, homes are still priced too high for many budgets.
You can spend a lot of time trying to find your dream home. Then you have to buy it while trying to sell yours and arrange for simultaneous closings. If you can do that, all that’s left is to pack up all of your belongings, move them and get settled into your next home.
A better option: turn your current home into your dream home. Next Level Extensions are experts at helping turn old homes into dream homes for a very reasonable price. Not only will you get your dream home without having to buy, sell and move, you will also see your current home rise in value.
Call Next Level Extensions today for a free consult with Max Sardi. See what he has to say. Your dream home might be right under your nose. Call us today: 1300 948 094.
