Episodit
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Are you pondering taking a very large home loan to renovate, build or buy a new house?
If the size of it is making you hesitate, you're not the only one.
In today's episode, I speak to a financial adviser and get a second opinion on inflation, interest rates and what everyone is spending on home loans in 2024-2025. Plus, you'll find out how to work out the right amount to borrow for your situation and how much is too much.
I talk to highly respected financial adviser Tim Ward from Ward and Co. Wealth in Brisbane.
KEY POINTS SUMMARY
To conclude today, I want to draw your attention to three main points.
1. Interest rates are remaining fairly steady. We are at the end of the interest rate rising cycle. However, another rise is not out of the question because inflation still remains high.
2. Australians are taking out higher mortgages than ever before. You are not alone. Ten years ago, the average Australian mortgage was around $600,000 to $700,000 across major capital cities. Now we're starting to see seven figure mortgages across major capital cities for new entrants to the property market.
3. A financial adviser can help you determine the level of home loan debt that's affordable for your personal situation. This can include budgeting, cash flow management, and stress testing to ensure that you can tolerate a level of interest rate rise comfortably.
ADDITIONAL ADVICE FROM TIM WARD
Steps to help you work out the right amount to borrow
The best process to do this is to reverse engineer what you can afford. These steps will ensure that you can live within your means and do not unknowingly force yourself into undue financial pressure.
Step 1. Most importantly, don't use the maximum borrowing capacity afforded to you by the bank.
Step 2. Create a budget with all your non-discretionary and discretionary items. Non-discretionary are things that you have to pay, like rates, utilities, phones, insurances. Discretionary items are things that you choose to pay for entertainment, for quality of life and lifestyle.
Step 3. See how much is left over for paying off your home loan.
Step 4. Stress test your affordability of the loan and this means if interest rates increase 2- 3% from current rates, can you still afford them?
How much is too much to borrow in 2024-2025?
In Australia, the typical cost of housing as a percentage of gross income has been around 25% to 30%. How much is too much? The answer is definitely not one size fits all.
As a general guide, if your home loan repayments are higher than 30% of your gross income, you're more likely to struggle with financial stress. If you're on a high income, you may be able to go over this 30%, but Tim advised that 30% is a good general benchmark.
INTERVIEW QUESTIONS
01:01 Can you tell us what is happening with home loans, interest rates and inflation?
03:38 You said that inflation was sticky – what do you mean by that?
04:10 What size mortgages have you been seeing over the past few years?
09:11 How do financial advisers help people to make the right decision on loan size?
15:01 How do financial advisers help people secure their investments over the long term?
16:07 If people are considering getting advice from a financial adviser, how do they start?
17:02 How do financial advisers general charge?
WANT TO READ MORE?
Download the written version of the entire interview as a PDF.
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Are you wondering whether it’s a good time to take out a large home loan to renovate or buy a house?
In today's episode, I talk to a mortgage broker, and you'll learn what's happening with home loans and interest rates in 2024 and 2025. You'll also learn about current housing demand in southeast Queensland and which banks will support the environment to help you make the right decisions.
I'll talk to highly respected mortgage broker Richard Jefferies from Newbridge Home Loans in Brisbane.
KEY POINTS SUMMARY
To conclude today, I want to draw your attention to three main points.
1. Richard forecast that interest rates would remain fairly stable over the next twelve months.
2. There's a high demand for more houses all over Australia, coupled with a shortage of available houses. Southeast Queensland alone has a shortage of about 14,000 homes a year, and this demand is pushing up house prices with no sign of stopping.
Brisbane's long-term average medium house price growth rate is around 6 - 8%. And this means two things:
House prices are rising steadily. If you're a first-time home buyer in southeast Queensland, get into the market before it becomes even more unaffordable.It also means that property in southeast Queensland is very desirable for investors.3. If you are looking for a bank that supports the environment, there are a few around. Richard mentioned a great website listing banks that don't invest in fossil fuels. Here is the link:
Compare Bank Table - Market Forces
INTERVIEW QUESTIONS
00:45 What's happening in the current finance market about borrowing money?
02:27 In your experience, what changes have you seen over the last few years in the size of mortgages people have taken out?
04:11 How does Brisbane relate to the other capital cities around Australia?
06:31 Where do you see borrowing going in the next twelve months?
07:35 How are environmental features valued by the banks?
10:07 Are any banks doing anything for the environment?
WANT TO READ MORE?
Download the written version of the entire interview as a PDF.
S1:E8 - Home Loans & Interest Rates -Transcript
Looking for more information on design, construction costs or environment?
You can find everything you need on the Renovation Collaborative website.
Listen to the full podcast or get the transcript PDF edited into Q & A.If you're short on time, sign up for the Weekly Wrap Newsletter and get the concise podcast summary delivered straight to your inbox.You'll also find 11 easy-to-read courses demystifying the entire home design and construction process.www.renovationcollaborative.com.au
IN THE NEXT EPISODE
Next week, in the final episode of Season 1. Renovate or Sell, I speak to a financial advisor. You'll get another opinion about the finance market and some ideas to help you work out the right amount to borrow. Plus, I'll ask Tim Ward from Ward and Co Wealth how much is too much to borrow in 2024-2025.
RESOURCE LINKS
Richard Jefferies, Newbridge Home Loans
www.mynewbridge.com.au
Find a Bank that supports...
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Puuttuva jakso?
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Today, we move on to the next step in the Renovate or Sell journey - Borrowing finance.
You might think of mortgage brokers only for getting the best home loan rates, but they've got a lot more knowledge and value to offer than that. Loans for construction and renovation are definitely not one size fits all.
When it comes to construction projects, everyone has different objectives: large projects, small projects, owner-builders, licensed builders, and even modular or relocated homes. And that's just the beginning. Not all banks will finance everything, because from the bank's perspective, there are different levels of risk. So, finding out what finance is available for your project ideas is essential before you go too far.
I talk to highly respected mortgage broker Richard Jefferies from Newbridge Home Loans in Brisbane.
KEY POINTS SUMMARY
There are so many key points from today that narrowing it down to three is hard, but I'll start with these.
1.Depending on your personal financial situation and construction project specifics, you can access a number of loan types. You may also be able to access finance for the design stage consultants as well as the construction.
As a general guide, the standard loan types are construction loans and smaller renovation loans. A construction Loan is for projects over about $150,000. It involves a licensed builder and payments made over the standard stages in a construction contract. The alternative is smaller renovation loans for more cosmetic work under the $100,000 mark. This is for bathrooms, kitchens, and other similar projects where you don't necessarily have to have a licensed builder. You can manage the process yourself, and the amount of money will be paid out in a lump sum drawn down at your discretion.
2.Some projects will require specialized loans, and limited lenders will be available. Typical examples of this are when you're going to be an owner builder for a large project of a size potentially that would have usually been covered by a typical construction loan. Also, if you're looking for finance for a relocated home, modular home, prefabricated home, or something similar.
3.If you need finance, getting in touch with a mortgage broker at three key stages is essential.
The first stage is the initial discussion. Before you start any design, you need to determine your budget so it can guide your design brief. The next stage is pre-approval finance. When you've got some draft floor plans and more of an idea of what you want to do, be aware that pre-approval finance is only valid for 90 days. The final step, obviously, is the final approval stage. When you've got all of your information together and your building approval in place,It's important to note that you should consider your mortgage broker as part of your consultant team. You need to keep them up to date as the project progresses and ensure they're aware of any budget changes that may affect the amount of money you need to borrow.
INTERVIEW QUESTIONS
01:17 What is the benefit of a mortgage broker over your usual bank?
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Buy or Renovate? Which is more affordable?
When you discover the price to build your renovation plans you may think, ‘Surely it must be cheaper to sell and buy something better instead?’
In today’s episode, I talk to a real estate agent to find out what is happening in the real estate market in 2024-2025 in Brisbane and all around Australia, and the forecast moving forward.
I also investigate the impact of flooding on property prices and how environmental design is valued in the market.
I talk to highly respected and experienced real estate agent, Tim Douglas from Place West Estate Agents in Paddington Brisbane.
KEY POINTS SUMMARY
Another fantastic interview with Tim Douglas. I just want to draw your attention to three main points from today.
1. Firstly, the property market is showing growth in most Australian capital cities, with Brisbane looking particularly strong going into the Olympics. Brisbane has had a very strong run since COVID and there's no sign of that stopping over the next 7 - 8 years.
2. Secondly, the high price of construction over the past few years has led to a shortage of completed larger renovations and new houses in the Brisbane market. Therefore, these products are now in high demand. On the flip side, unrenovated smaller cottages are not performing as well as they used to. This is obviously because there's not as much enthusiasm for renovating as there used to be, making these products less desirable. Tim advised that if you're able to hold onto one of these properties and just wait, they'll become a better investment over the longer term.
3. The third point was that environmental design adds value. I've always known it does, but it's really great to see that reflected in the market. Getting the climate responsive design basics right is always a winner. Get those living areas facing north, the indoor outdoor living areas, so they'll be filled with light and responding to the climate, responding to the seasons, winter through summer.
INTERVIEW QUESTIONS
00:00 Introduction
01:09 What's happening with the price of real estate in Brisbane in 2024-2025 and looking forward?
11:18 What is happening with house prices in the other Australian capital cities looking forward?
19:21 Does a house designed to suit the climate have greater property value?
21:19 Do other environmental initiatives add value and are buyers looking for them?
23:07 What effect does potential flooding have on a property in the current market?
30:22 If someone was planning to renovate and sell within 5-10 years, what advice would you give them on the right amount to spend?
WANT TO READ MORE?
Download the written version of the entire interview as a PDF.
S1:E07 How much do Houses cost in 2024-2025?- Transcript
Looking for more information on design, construction costs or environment?
You can find everything you need on the Renovation Collaborative website.
Listen to the full podcast or get the transcript PDF edited into Q & A.If you're short on time, sign up for the weekly Wrap newsletter and get the concise podcast summary delivered straight to your inbox.You'll also find eleven easy to read courses demystifying the entire home design and... -
You might think of real estate agents only for buying and selling property, but did you know that they have a heap of knowledge that can add value to your next renovation or new home project?
In the previous episodes, I covered the cost of house construction to help you understand what your design ideas or your house plans might cost. In today's episode, we move on to the next step in the renovate or sell journey - property value and feasibility. You'll find out how a good real estate agent can help you answer your design brief and budget questions, and add real value to your home.
I talk to experienced real estate agent Tim Douglas from Place West Estate Agents in Paddington, Brisbane.
INTERVIEW QUESTIONS
00:00 Introduction
01:17 Do many renovators ask you for advice on their design brief and budget?
05:48 What information can real estate agents provide regarding brief or budget?
07:53 If someone is thinking of selling, should they talk to a real estate agent before they do any improvements?
11:46 What are the most common features that make a house not worth renovating?
16:59 For people putting together a design brief, what are the things that potential buyers always look for?
20:33 Do swimming pools add value and are people looking for them?
23:20 What is your advice on baths?
26:02 Do very personal or unusual design features make a house difficult to sell?
30:45 If you create a smaller home than others in the area, will it cause a problem when it comes to resale?
37:25 When is the best time to approach a real estate agent to get advice?
43:05 What are the typical relocation costs?
46:33 What design information should people bring when meeting with a real estate agent?
47:59 Key Points Summary
KEY POINTS SUMMARY
These are the key points from this episode:
1. Firstly, if you've got design brief or budget questions, it's always worth talking to a few experienced local real estate agents to get their opinion, particularly if you're considering selling in under five years. Agents talk to buyers on a daily basis so they're in a unique position to provide information on features that add value and those that don't, as well as what buyers are prepared to pay for them. At the end of the day, it's your house, so you can do what you want. You don't have to follow the agent's advice, but I always think it's worth getting informed before you start spending any money, so there's no regrets later on.
2. Secondly, it was interesting to find out the features of a house that add value in 2024. These vary depending on your location, but the most popular were:
a second living area,an ensuite and walk in robe off the main bedroom,a mudroom for dumping clothes and shoes and bags, etc, on the way in from the car, and interestingly,a pool.3. The third point was that it's preferable to get advice from an agent as early in the design process as possible. This will ensure you've got clear direction forward on your design brief and most importantly, your budget, to avoid over capitalisation. Agents can provide advice on rough floor plans or even simply a discussion of your design ideas.
WANT TO READ MORE?
Download the written version of the entire interview as a PDF. It's edited into clear
Q&A so it's easy to follow:
S1:E7-On the Tools with a Real Estate Agent-Transcript
Looking for more information on design, construction costs or environment?
You can find everything you...
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Are you looking for the current cost of renovating or building a new house in Brisbane, South East Qld or Northern NSW, Australia in 2024-2025?
In this episode you’ll find out the current square meter rates for new custom construction.
I talk to a building cost estimator and find out the cost of house construction in 2024 and what's forecast to happen in 2025.
If this is your first episode, I recommend you go back and listen from the beginning of the season because everything builds on the episode before. At the very least, please listen to Episode 4. What are square metre rates? so you understand what they are and most importantly, when they're used by inexperienced people, they can lead to very inaccurate results!
The information covered in this episode on current square metre rates is for education only.
I'll be talking to building cost estimator David Knight from Total Estimating Services in Brisbane.
KEY POINTS SUMMARY
We covered so much information in this episode, but I just want to draw your attention to three main points.
1. The first point was the wide range of costs to build custom, mid-range quality houses in the current market, which varied from around $3,000 up to over $6,000 per square metre.
I predominantly work on residential renovations two storeys in inner Brisbane, which is quite sloped. So the fact that you could build on a flat block, a single story building for so much less, was quite a surprise to me.
It was important to note what did make those renovations in inner Brisbane to older houses so much more expensive that everything is custom. Every bit of timber has to be custom cut. Everything has to fit in unusual sizes for houses out of square and that's what adds to those prices compared to the new single level building on a flat site.
2. The second point to make is that there's no easy way to get costs down.
There's never one or two big items that you can just take out of a job and save those costs. Costs are always spread across the entire project, so you really have to go through everything and take out little bits through the entire job.
A better way to deal with this is when you're designing and as you go through and you choose each item, make sure you choose an item that's within your budget. Try to keep the costs down in the design stage so you don't have to go back through and take them out after costing.
3. The third important point to note that in this market where costs are so high, it's only worth renovating houses that have got good bones.
And this means a great piece of land that's well located, good orientation, good room sizes in the house, decent ceiling heights, limited asbestos timber doors and windows that are in good condition, and good structure.
If this is not the case, then it may be wiser to sell.
Alternatively, if the orientation of the land is great and the piece of land is great and you're able to remove the house, then sometimes it can be worth removing the house and building new. But it's really important to note if you are going to get rid of the house, always think of smart ways to recycle the whole house or parts of that house. You can save money and you can save the planet at the same time. Don't just send it all to landfill.
INTERVIEW QUESTIONS
00:00 Introduction
01:30 How much does it cost to renovate or build a new house in Brisbane in 2024?
05:55 What are square metre rates?
07:23 What is the difference in build quality between lower and higher cost...
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If you are trying to figure out how much your renovation ideas will cost, you will have come across square metre rates. But what are they?
In this episode I investigate square metre rates in detail. You will find out what they are, how they are calculated, and why building cost specialists hate using them!
Welcome to the Renovation Collaborative podcast, where I interview industry experts to find out the latest insider info to help you renovate smarter. My name is Stephanie Skyring. I'm an Australian architect with 20 plus years of experience helping people create better, more environmental homes on any budget.
I’ll be talking to highly respected Quantity Surveyor, Flavio Costanzo, from Flavio Costanzo and Associates, in Brisbane.
KEY POINTS SUMMARY
We cover so much information in this podcast but I just want to stress the three most important points:
1. If you're ever quoted square metre rates, make sure you find out what they include, because that can just be so variable and everyone has a different interpretation.
2. Square metre rates may or may not include verandas or bits and pieces attached to the house, but they never include work outside the house.
So make sure you allow to add all of this on to your building cost work. This includes things like driveways, cut and fill, complex footings, pools, pool houses, landscaping, fences. All of those things need to be added onto your construction cost.
3. Both the quantity surveyor and the building cost estimator really didn't like using square metre rates because they're so variable and it's hard to get a really accurate result.
INTERVIEW QUESTIONS
00:00 Introduction
01:00 What are square metre rates?
02:10 Where do square metre rates come from?
03:28 What is included in square metre rates?
08:30 What is Rawlinsons?
10:55 What is excluded from square metre rates?
13:44 What are typical items that make square metre rates higher or lower?
16:09 Key Points Summary
WANT TO READ MORE?
Download the written version of the entire interview as a PDF. It's edited into clear Q&A so it's easy to follow:
S1:E4 What are Square Metre Rates? - Transcript
Looking for more information on design, construction costs or environment?
You can find everything you need on the Renovation Collaborative website.
Listen to the full podcast or get the transcript PDF edited into Q & A.If you're short on time, sign up for the weekly Wrap newsletter and get the concise podcast summary delivered straight to your inbox.You'll also find eleven easy to read courses demystifying the entire home design and construction process.www.renovationcollaborative.com.au
IN THE NEXT EPISODE
In the next episode, I find out how much it costs to build in Brisbane and South East Queensland in 2024 and the forecast for moving into 2025. I will be talking square metre rates, so it's really important that you take on board everything that we've covered today in this interview.
RESOURCE LINKS
Flavio Costanzo and Associates. Quantity Surveyors and Building Cost Consultants
https://au.linkedin.com/in/flavio-costanzo-6165b22a
CONTINUING PROFESSIONAL DEVELOPMENT...
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Did you know that a quantity surveyor can give you independent building cost advice on your house plans and ideas, and help you decide whether to renovate or sell?
Welcome to the Renovation Collaborative ‘On the tools’ podcast, where I interview industry experts to find out practical information to help you renovate smarter. My name is Stephanie Skyring. I'm an Australian architect with 20+ years of experience helping people create better, more environmental homes on any budget.
In the previous episode, I spoke to a building cost estimator. In today's episode, you’ll find out how a quantity surveyor can also provide you with independent building cost advice. You’ll get further insights into building costing that will add value to your residential project, whether you’re an owner, an architect, a building designer or a builder.
I’ll be talking to highly respected quantity surveyor, Flavio Costanzo from Flavio Costanzo and Associates building cost consultants, in Brisbane.
INTERVIEW QUESTIONS
00:00 Introduction
01:16 What is the difference between a quantity surveyor and a building cost estimator?
06:42 At what stages of the design process would a quantity surveyor provide costing advice?
11:13 Do you provide cost estimates at the tender stage for builders?
19:06 When you are putting together an estimate, where do the material and labour prices come from?
20:01 What are the benefits of obtaining independent building cost advice from a quantity surveyor?
20:39 Can a quantity surveyor give advice for the whole of Australia or are they more locally based?
21:17 Key Points Summary
KEY POINTS SUMMARY
We cover so much useful information in this interview, however there are three critical points that came out of the discussion:
1. The first point was that quantity surveyors (QS) and building cost estimators come from different backgrounds, but when it comes to residential costing they work in very similar ways.
Either one can provide the cost education you need. You just need to find someone local.Although I did not cover it in this episode, the costs for a quantity surveyor's services are very similar to those of building cost estimator. I covered a building cost estimator’s services and costs in the previous episode.2. The second point was again about the critical importance of obtaining costing advice early in the design phase, to ensure your budget and design brief are aligned, before you go too far. Ideally this should happen at two stages:
First at the concept design stage when you have just got rough floor plans, to confirm your ideas are even feasible.The second stage, if you proceed that far is at the detailed (developed) design stage, when you have floor plans and elevations and a bit more information. But you haven’t gone to Town Planning and you haven’t gone as far as getting full engineering done. You may have partial engineering if you need that information based on your design. This is so important, I just can’t stress this enough.3. The third interesting point is that both quantity surveyors and cost estimators provide costings for builders at tender stage. Many builders don’t have the time or inclination to prepare their own tender estimates. It’s important to note that all builders will have their own suppliers and buying power, and this will lead to a different final tender price outcome.
WANT TO READ MORE?
Download the written version of the entire interview as a PDF.
S1:E3 On the Tools with a Quantity Surveyor -...
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Do you need to know more information about the cost of house construction to help you decide whether to renovate or sell?
You might typically think of obtaining building cost advice from a builder, but did you know that’s not the only option? You can also obtain independent advice on how much it will cost to build your house plans or even your design ideas, from a Building Cost Estimator and a Quantity Surveyor.
Welcome to the Renovation Collaborative ‘On the tools’ podcast, where I interview industry experts to find out practical insider info and save you time and money. My name is Stephanie Skyring. I'm an Australian architect with 20 plus years of experience helping people create better, more environmental homes on any budget.
In the first four episodes of this Season, starting today, I focus in detail on house construction costs.
In today's ‘On the Tools’ episode, you’ll find out practical information about working with a building cost estimator; what they do, what their services cost and how they can add value to your next renovation or new build project. I talk to highly respected building cost estimator David Knight from Total Estimating Services in Brisbane.
Join me every Tuesday for Season 1. and find out whether to Renovate or Sell in Australia in 2024.
INTERVIEW QUESTIONS
00:00 Introduction
01:19 What does a building cost estimator do on a typical house project?
02:12 What is the difference between a building cost estimator and a quantity surveyor?
03:38 On what size residential projects are cost estimators most commonly used?
04:31 What is included in a building cost estimate?
05:23 Where does your material and labour price information come from?
06:06 What are the benefits of obtaining cost advice from a cost estimator over a builder?
10:15 At what stage should I get a cost estimator involved?
14:41 What do a building cost estimator’s services cost?
17:00 Can building cost estimators provide advice Australia wide?
18:35 How would I get started with a building cost estimator’s services?
19:32 Key points summary
KEY POINTS SUMMARY
We covered so much helpful information in this interview. However, there are three key points that I want you to know:
1. The benefits of obtaining independent cost advice from a cost estimator (or a Quantity Surveyor):
It’s impartial and obligation free.You get a very comprehensive cost breakdown, so you can work out what to change to lower your costs (assuming you will probably want to!)2. Obtaining cost advice early in the design phase is critical to ensuring your budget and design brief align.
Preferably at two key stages:
Concept (Sketch Design) Stage: As soon as you have a rough floor plan to determine if your ideas are feasible. This is when you decide whether to renovate or sell.Developed Design (DD) Stage: When you have more developed floor plans and elevations to ensure you are still on track. This costing must happen before you seek Town Planning Approval (if required for your site) or finalise engineering.This is such an important process to follow to avoid cost blowouts in this incredibly expensive construction market.
3. For anyone obtaining a price from only one builder: The value of obtaining a cost estimate at Tender Stage to provide an essential education about what’s included (and excluded!) from your builder’s price. This should be a very open process to be discussed with your proposed builder before he prepares his tender price to ensure the costs can be compared.
WANT TO READ MORE?
Download the written
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Are you going in circles trying to work out whether to renovate or sell? Do you need more information about current costs to help you make the right decisions? In my first podcast season, Renovate or Sell, I tackle costs head on.
I interview five trusted industry insiders to find out the latest information:
about the cost of house construction, from a Building Cost Estimator and a Quantity Surveyor,about the cost of houses, from a Real Estate Agent,about home loans, from a Mortgage Broker, and about the right amount to borrow, from a Financial Adviser.Each of these professionals has a wealth of knowledge to help you make the right decisions. I also find out what they can do for you, and how to move forward with their services. I demystify the process so you can stop going in circles and achieve your dream home sooner.
Join me every Tuesday and find out whether to Renovate or Sell in Australia in 2024.
SEASON 1. PROGRAMME
June 25: Ep 1. Season 1 Trailer
July 02: Ep 2. How much does it cost to renovate? Ask a Building Cost Estimator
Guest: David Knight, Total Estimating Services www.totalestimatingservices.com.auJuly 09: Ep 3. Building cost questions? Ask a Quantity Surveyor
Guest: Flavio Costanzo, Flavio Costanzo and Associates. Quantity SurveyorsJuly 16: Ep 4. What are Square Metre Rates?
Guest: Flavio Costanzo, Flavio Costanzo and Associates. Quantity SurveyorsJuly 23: Ep 5. Current renovation & construction costs 2024-2025: Brisbane, South East Queensland, Northern NSW, Australia
Guest: David Knight, Total Estimating Services www.totalestimatingservices.com.auJuly 30: Ep 6. Renovation design brief and budget questions? Ask a Real Estate Agent
Guest: Tim Douglas, Place West Estate Agents, Paddington, Brisbane. www.placewest.com.auAugust 06: Ep 7. How much do houses cost in 2024-2025? Brisbane and Australia
Guest: Tim Douglas, Place West Estate Agents www.placewest.com.auAugust 13: Ep 8. How much can I borrow? Ask a Mortgage Broker
Guest: Richard Jefferies, Newbridge Home Loans www.mynewbridge.com.auAugust 20: Ep 9. What's happening with home loans and interest rates in 2024-2025?
Guest: Richard Jefferies, Newbridge Home Loans www.mynewbridge.com.auAugust 27: Ep 10. Borrowing Finance: How much is too much in 2024-2025?
Guest: Tim Ward, Ward & Co. Wealth www.wardandco.com.auTIMESTAMPS
00:00 Introduction
00:19 I interview 5 trusted industry insiders to get the latest cost information
01:14 Current cost of residential construction
01:31 Current cost of houses
01:48 Home loans and borrowing finance
02:05 How much is too much to borrow?
02:37 ‘On the Tools’ podcasts contain practical information
FULL TRANSCRIPT
Are you going in circles trying to work out whether to renovate or sell? Do you need to know more information...
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Architect Stephanie Skyring introduces Renovation Collaborative, her new online learning guide designed to help DIY renovators find their way through the entire house design and construction process.
The Renovation Collaborative website includes 11 Online Courses, podcasts with industry experts and a private community.
Stephanie explains why she created Renovation Collaborative and how it can help you get the best results and value for money in your next renovation or new build project.
KEY POINTS SUMMARY
Architect Stephanie Skyring created her Complete home design guide, Renovation Collaborative to help DIY renovators and to inspire a greater commitment to environmental design. Created over the past 2 years, the Renovation Collaborative website contains online courses and other easy to follow, practical resources to help you get the best results and value for money for your renovation or new house project.
What's offered on the Renovation Collaborative website?
11 Online courses guide you through the entire design and construction process. Each course can be read in about an hour and contains valuable attachments such as template letters, documents and materials selection advice. The design courses are supported by a live online classroom where you can ask questions. The Renovation Collaborative Community allows you to have your questions answered by Architect Stephanie Skyring and a community of like-minded renovators.Renovation Collaborative also offers a range of free resources, including:
Course 1. Environmental Design: The Common Sense Basics you didn't know, Podcasts, and Practical ideas on social media.Why is Renovation Collaborative is different to other online renovation courses?
Stephanie has 20+ years of Architectural experience in her practice Skyring Architects. She shares industry expert knowledge and The Environment is a core focus.Renovation Collaborative helps you make informed decisions, saving you time and money.
The podcasts share industry expert knowledge in a practical, usable format.
It's designed for busy people. All the information is put together in a very concise format to save you time and get you the answers you need and the home you want..
Environmental design that is accessible for all budgets is a critical component. The courses and all the resources focus on how to improve climate-responsive design, orientation, natural light, connection to the outside, and energy efficiency. Smart ways to do the simple things and transform your house through design, not through cost. There are solutions for everyone, for any budget.
TIMESTAMPS
01:12 Stephanie explains why she created Renovation Collaborative
03:33 Find out about the courses and resources available.
06:04 Renovation Collaborative is very different to other online renovation courses.
06:48 Cut through the huge amount of info online and provide reliable advice.
08:38 What inspired the Podcasts
09:41 Designed for busy people, concise information is offered in a variety of ways.
11:02 Environmental design ideas, accessible for all budgets are a critical component.
12:58 Find answers to your home design and construction questions
14.26 How to get started.
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