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RENOVATION LOAN INFORMATION FOR AUSTRALIAN BORROWERS
Obtaining a Renovation Loan in Australia – Information, money saving tips and commentary

Renovation Home Loan



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What is a Renovation Loan?

A Renovation Loan is typically made to fund internal improvements to an existing home. Due to the high costs of purchasing a new home in Australia at present, many existing homeowners are choosing to renovate instead.

Examples of common renovations include bathrooms and kitchens, but may also include floors and roofs.

Most renovations are of a non-structural nature and may or may not require council approval depending on the scale and nature of the work, and council by-laws. As a rule, structural changes always require engineering design and council approval.

Renovation loans are commonly used to repair or upgrade the family home or investment property in order to increase lifestyle and/or add value.

If you have have an existing loan with a redraw facility and have paid it down, you may find it cheaper to redraw rather than take out a new loan.


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The best place to start your home loan search


The best place to start your home loan search

The Tomorrow Finance provide a Free Home Loan Quote service for Australian home owners and real estate investors. Ask them for a Free Quote on a Home Loan or Investment Property Loan.
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