• Real Finance

Finance options for your renovation

Updated: May 24

Have you thought about how you could possibly afford to finance your dream renovation?

If you're a home owner looking to fund the costs to renovate your home, REIF are here to help! Our Finance Specialists are here to support you with fast-tracking this goal much sooner than you may have anticipated.

In this article, we are going to share a few different finance options that we can assist you with to get the ball rolling on your home improvement projects.


Refi/ refinancing is something that we recommend looking into at least every two years. This is because the market is constantly changing and we are seeing record low interest rates coming out from leading lenders. If you are in the position to refinance your mortgage rates now is the time to do it!

Refinancing your home loan every couple of years can help you to discover funds that can be utilised for home renovations

With rates as low as they are right now, you could potentially be saving thousands of dollars each year. If you decide to refinace you could put all that money back into financing your much anticipated renovation project.


You've probably heard us go on about how much we love equity! This is because it holds SO much potential for property owners. Equity is the difference between the current market value of your property and how much you owe against repayments.

Not only can you use equity to assist in the purchase of more property BUT you can also access it to use for renovation projects. To learn more about accessing your equity to fund a property renovation, reach out to a finance specialist today!

Personal loan

This is entirely dependant on the size of your renovation and your savings. Though, it's also important to check what kinds of renovations you personal loan will cover. Personal loan amounts will vary lender to lender. It's recommended to consult a finance specialists who will present you with a range of different loan options that are applicable to your situation.


Redraw is an option that home owners can access if they make mortgage repayments above the minimum amount that's required. Depending on your loan and lender, you may be able to take this money-out of surplus funds. Known as a redraw facility, this option may allow you to use it as a means of funding a property renovation.

Construction loans

Some lenders will allow you to take out funds for a construction loan. Construction loans allow you to receive loans in progress payments and you can pay those invoices as they arrive. If you wish to take out a construction loan to assist you with financing a home renovation, reach out to a finance specialist who can point you in the right direction of suitable lenders.

Learn more

In this info-graphic, we explore the different strategies of financing a renovation

If you're looking to finance a renovation, feel free to reach out to our team of finance specialists today! They will cater their services to your individual needs and source a range of options that are suitable for your individual circumstances.

To start the conversation, reach out via the details provided or follow the link to our contact form to book in a chat with our team!

Ph: 1300 130 932


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