With a cut of 0.25% to interest rates on 20 March – well ahead of the usual monthly meeting of the Reserve Bank of Australia – it comes as no surprise the Board has decided to leave rates on hold at today’s meeting. Minutes from the emergency meeting mid-March state that members “… agreed that the cash rate was now at its effective lower bound,” and “Members had no appetite for negative interest rates in Australia.”
Are you one of the millions of people self-isolating at home? Now is the perfect time to have a look around you and spend time adding value to your main asset. You may not be looking to sell right now, but it doesn’t mean you can’t do something that will benefit you in the long term. Improving your surroundings will also allow you to enjoy your time inside more.
Here are five easy tips to improve your home while you self-isolate
- Paint. Are your walls looking a bit tired? You can try a good scrub with sugar soap, or go one step further and repaint the room that needs it most. Another idea – add a ‘feature wall’ – use a darker complimentary colour give your home an easy design element. You can even wallpaper a single wall for a real design statement!
- Bathroom mini-makeover. Repaint the walls, add a new mirror and update the taps and faucet on your vanity. Adding lighting will also make a big difference.
- Add some space in the kitchen. Cupboard rollouts – adding sliding pantry organisers in your existing drawers – will give you more space and add value to your home. Just think how organised you’ll be!
- Backyard blitz. Autumn is the perfect time to turn your garden into the oasis you always wanted it to be – but didn’t have the time. Even if you’re normally a keen gardener, you can add value by ensuring all supporting structures – fences, brickworks etc – are looking fresh.
- Closet organisation. Don’t just go through old clothes – why not look at how you can restructure your closet by adding storage containers, shoe racks etc.
It’s a difficult time for everyone now, but we are still here to help. Setting yourself up now will benefit you in the long run.
If you are experiencing difficulties with your mortgage repayments contact us immediately or contact your lender, a list of all the lenders phone numbers and web pages is here: https://www.oceanhomeloans.com.au/covid-19-lender-financial-hardship-contacts/
Please feel free to contact us at any time.