Paying for your renovation
Sustainable energy loans
You can apply for a sustainable energy loan if your renovations include adding a system that produces sustainable energy for your home, such as solar panels. If your sustainable energy loan is $5000 or over, we’ll kick in $2,000 over four years to help you pay it off faster.
Topping up your mortgage
Topping up your mortgage is usually cheaper than getting a personal loan or using a credit card, because home loan interest rates are lower.
Tips to help your renovation budget go further
Before you start
- It’s all in the planning — work out everything you’ll have to do to finish your project, and do your research to get a good idea of what it’ll cost you.
- Set your budget — we reckon you’ll need a 10% buffer to cover quotes that run over and any nasty little surprises.
- Don’t put in more than you’ll get out — if you’re renovating to sell, talk to us or a local real estate agent to make sure you’re adding more value than what you’re spending.
- Cover yourself — before knocking out any walls, check with your insurance company that your house and contents policy covers you during renovations. And if you’re not getting a building consent, make sure the work you’re doing will be insured.
Getting stuck in
- Keep track of your budget — don’t let all that planning go to waste. Track your spend and upcoming costs using a budgeting tool.
Done and dusted
- Pay it off as fast as you can — the longer you take to pay off anything you’ve borrowed, the more you’ll pay in interest.
- Update your insurance — major renovations may affect the amount your house is insured for, so talk to your insurance company.
Interested? Lets talkGet in touch or apply now
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