A property that has been repainted in a way that doesn’t look like a refurbished home could cost you hundreds of thousands of dollars.
Melbourne’s RMBS bank says it is offering a $2,500 rebate on its home renovation loans if you want to repair or repaint the property, but it is only available if you have already been remodeled.
“If you want repainted, you’ve got to repaint,” said Andrew Williams, a managing director at RMBS.
“It can’t be done on the same site.
It’s a lot of work.”
Mr Williams said the rebates were designed to help people make the most of their money when they go through a property restoration project.
“You can’t get them to be able to get the whole house, they can only do the major pieces,” he said.
“But if you can get the minor stuff done and repaint it then it’s just a matter of what’s the best price.”
But the money could be more expensive if the project is done poorly, like repainting the house in a cheap way.
“If it’s not done properly, they’ll end up paying a lot more than if they were done well,” Mr Williams said.
He said that while the rebate was only available to the people who have already renovated the property for the purpose of a refurbishment, it was available to people who had already repainted the property to an earlier date.
“It’s the same thing, so you’re not getting the same rebate if you repaint your house,” he told ABC Radio Melbourne’s Morning Show.
“The rebate is available to whoever’s got the repaint work done.”
Mr Williamson said it was too early to know how many people would apply for the rebated home renovation loan.
“We have a large number of people that are interested, so that’s why we’re offering the rebate,” he explained.
“So we’re trying to get people to take a look at what we have out there, and then we’ll work out what the best rate is.”
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