Fixer upper finance

Australian home owners love a renovation. Television shows, Pinterest pages, hardware stores and before and after blogs. The global pandemic has done little to curb our renovation infatuation – in fact it’s added fuel to the home facelift fire.

According to data from the Australian Bureau of Statistics, we love renovating our homes so much that home renovation-related lending in February was up a massive 52.9 per cent compared with the same time last year. It is estimated that this spike in renovation activity is likely to continue throughout 2021.

For homeowners, the idea that they can transform their current residence into their dream home is a lure many can't resist. But for the residential building community, renovating a client’s home can come with its own set of challenges. Not just working within the confines of the existing space, the homeowners often underfoot, but high expectations coupled with tight budgets. 

One of the biggest hurdles on these types of projects is ensuring the client's finance is in order, and getting paid is problem-free when the job is complete. 

Generally, getting finance for a renovation can prove to be tricky, with lenders expecting homeowners to provide additional information and dragging the chain when it comes to pre-approvals. While this can be frustrating for the client who just wants to get started, if the finance isn't sorted and work begins, it can cause additional stress and delays for everyone involved.  

Like us, have you ever wondered if there was a way you could alleviate this obstacle from the start? Surprisingly, the answer is yes. 

In the initial stages, when meeting with your client to discuss project scope, expectations and outcomes, something to consider is Handypay. 

Handypay is a flexible home improvement payment plan provider - offering simple and easy financial solutions for renovation projects up to $75,000. 

It isn't just lender approval that can cause delays to a project; for many clients, once they receive a quote from a builder, the reality of the hefty price tag that goes with a home renovation project can begin to feel overwhelming. Handypay provides your client with an easy way to pay for the project in affordable instalments. They can renovate now, enjoy their new home and pay later – now that's handy! 

Your clients can get pre-approved, no-obligation finance in minutes with no hidden nasties like monthly, exit, or early repayment fees. Handypay is more than a financial payment provider, as a business owner their day-to-day tool can help you convert more leads, increase sales and remove credit risk from your business. Your client pays Handypay and Handypay pays you. 

‘Getting a client over the line when it comes to signing off a renovation is one of the biggest hurdles builders’ face. We not only remove this barrier, but we also make it easy and affordable for the customer,’ says Crystal Anderson, Co-founder of Handypay. 

Handypay can help tailor a flexible payment plan solution to the project’s needs and at zero cost to you or your business. Best of all, as a valued HIA member, you're eligible for exclusive free payment plan solutions with Handypay.

Let Handypay take away the stress and strain of chasing payments. You can have confidence that when you do the job - you get paid on time, every time. 

For more information on how Handypay can work for you and your clients go to: Handypay

Brand promotion: This article was compiled with contributions from Handypay