Based in Geelong and working with clients across Australia, we know that renovating your home can boost its value, improve functionality, and create a more enjoyable living space. Whether you’re upgrading your kitchen, extending your home, or planning a full renovation, the right renovation loan solution can make it happen without draining your savings.
What are home improvement loans?
Home improvement loans in Australia come in various forms, such as personal loans, home equity loans, or construction-specific finance. The best option depends on the size of your renovation, your equity, and how you prefer to manage repayments.
A secured renovation loan, for example, may offer lower interest rates if tied to your existing mortgage, while an unsecured personal loan may suit smaller-scale projects with quicker turnaround times.
Benefits of renovation loans
- Spread out the cost: Avoid large upfront expenses by repaying in instalments.
- Flexible options: Choose from fixed or variable rates, and different loan structures.
- Enhance property value: Renovations can improve market appeal and long-term return on investment.
Things to consider before financing
- Set a realistic budget: Ensure you account for labour, materials, and potential contingencies.
- Understand your equity: If refinancing or accessing your equity, lenders will evaluate your current property value.
- Plan for approvals: Major works may require permits or council approval.
How we assist at Achieve Home Loans
Our team helps homeowners find tailored renovation finance to meet their specific needs. Contact us today, and we’ll review your financial position, explain loan options, and support you through the application and drawdown stages, ensuring your project stays on track.