What if I renovated my own home?
Renovating the place you live in is an affordability question first. The money leaves over a few months, some of it earlier than the schedule suggests, and the household still has to run normally throughout — including whatever it costs to live somewhere else while the work happens.
What the plan has to absorb
- The total cost and the months in which the payments actually fall due.
- The funding source, and the terms of any loan taken out to cover it.
- The accessible reserve during the work, not only after it is finished.
- Temporary extra costs such as alternative accommodation, storage or eating out more often.
- The contingency you hold, kept visible rather than folded into the headline price.
Questions worth testing
- How low does accessible money go in the worst month of the work?
- Does the plan survive a cost overrun of a fifth without borrowing more?
- What extra housing costs will you have while the home is uninhabitable, and for how long?
- Which spending changes afterwards — energy, maintenance — and by roughly how much?
How to read the result
The plan compares the renovation cost and schedule you entered with your available reserve. Worthifi does not estimate building costs or the value of the completed home, and it cannot say whether the renovation will increase the property value by the amount spent. Quotes change and projects are delayed. This is a planning illustration, not financial or construction advice.
How it works in the app
Log the renovation on your owner-occupied property, and choose how much of the cost turns into added value. See the cash-to-equity conversion — money out now, value added to your home.
- Open your home in Assets, then tap “Renovation”.
- Enter the cost, and how much of it should add to the property's value.
- Check the change in the property's value and equity afterwards.
Model this yourself