As property values across Mackay continue to rise, many homeowners are finding themselves in a strong position — sitting on untapped home equity. The big question we’re hearing more often at Gardian Finance is:
👉 Should we renovate our current home, or use our equity to upgrade and move?
There’s no one-size-fits-all answer, but understanding how equity works — and how it can be used strategically — can help you make the right decision for your lifestyle and finances.
What Is Home Equity?
Home equity is the difference between your property’s current market value and what you still owe on your mortgage.
For example:
Your Mackay home is worth $650,000
Your remaining loan is $350,000
Your usable equity may be around $170,000–$200,000, depending on lender policies
This equity can often be accessed without selling your home.
Option 1: Using Equity to Renovate
Many Mackay homeowners choose to renovate rather than move — especially in established suburbs close to schools, work, and the CBD.
âś… Why renovating can make sense
Stay in the neighbourhood you love
Avoid selling and buying costs
Improve lifestyle and functionality
Potentially increase your home’s value
Common equity-funded renovations in Mackay include kitchen upgrades, outdoor entertaining areas, extensions, and improvements for tropical living.
⚠️ Things to consider
Renovations don’t always add dollar-for-dollar value
Construction costs and timelines can vary
You’ll be increasing your loan balance
Option 2: Using Equity to Upgrade and Move
If your home no longer suits your needs — whether it’s space, location, or layout — using equity to upgrade may be the smarter long-term option.
âś… Why relocating can work
Move into a home that already meets your needs
Access better layouts or newer builds
Use equity for a deposit without saving cash
Potentially improve long-term capital growth
Many Mackay families use equity to upsize as their family grows, while others downsize and free up future cash flow.
⚠️ Things to consider
Selling and buying costs (agent fees, stamp duty)
Timing the sale and purchase
Temporary bridging finance may be required
How Mackay Market Conditions Influence the Decision
Local market conditions play a big role. In Mackay:
Renovation demand remains strong in established suburbs
Newer estates appeal to families seeking turnkey homes
Limited rental supply increases upgrade competition
That’s why local advice matters. A strategy that works in Brisbane or Sydney may not suit Mackay’s market.
How Gardian Finance Helps You Decide
At Gardian Finance, we don’t just look at interest rates — we look at the bigger picture.
We help Mackay homeowners:
âś” Understand how much equity they can access
âś” Compare renovate vs relocate scenarios
âś” Structure loans for renovations or upgrades
âś” Explore options like top-ups, refinances, or bridging loans
Our goal is to help you make a decision that suits both your lifestyle today and your financial future.
Renovate or Relocate — Start With the Right Advice
If you’re wondering whether to renovate or move, the first step isn’t choosing tiles or house listings — it’s understanding your finance options.
Speak with the local team at Gardian Finance and get clear, tailored advice for your Mackay property.
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(07) 4953 2799đź’»
www.gardian.com.auđź“Ť
73 Wood St, Mackay
