15+ Lenders | Personal Loan | Credit Assistance

Finance Your Home Renovation Without Refinancing

Kitchen, bathroom, extension, pool, or energy upgrades - you don't always need to refinance your mortgage to renovate. We compare unsecured renovation loan options from 15+ Australian lenders, with amounts up to $100K and fast approval.

$100K

Max Unsecured

6.99%+

Rates from

1-3 days

Fast Approval

Check Renovation Loan Options Renovation Loan vs Refinance

Secure | No credit check at initial stage | No cost to you* | *We are paid by lenders

Popular Renovation Projects & Typical Costs

Australian renovation costs as a guide for your loan amount

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Kitchen Renovation

New cabinetry, benchtops, appliances, splashback, flooring, plumbing, and electrical.

$15,000 - $50,000

Budget refresh: $15K - $25K
Mid-range: $25K - $40K
High-end: $40K - $80K+
Council approval: usually not needed

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Bathroom Renovation

Tiles, vanity, shower, bath, toilet, waterproofing, plumbing, and ventilation.

$10,000 - $35,000

Budget refresh: $10K - $15K
Full reno: $15K - $25K
Luxury: $25K - $50K+
Waterproofing certificate required

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Extension / Granny Flat

Add a room, second storey, granny flat, or convert a garage. Requires council DA.

$50,000 - $200,000+

Single room: $50K - $80K
Granny flat: $80K - $150K
Second storey: $150K - $300K+
Council DA required (8-12 weeks)

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Outdoor & Landscaping

Deck, pergola, pool, landscaping, fencing, outdoor kitchen, and entertaining areas.

$5,000 - $80,000

Deck/pergola: $5K - $20K
Pool: $30K - $80K
Landscaping: $5K - $30K
Pool fencing: mandatory in AU

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Energy & Solar

Solar panels, battery storage, insulation, double glazing, heat pump hot water.

$5,000 - $30,000

Solar (6.6kW): $5K - $10K
Battery: $8K - $15K
Federal/state rebates may apply
ROI: 3-7 year payback

Renovation Loan vs Refinancing Your Mortgage

Two paths to funding your renovation - which is better?

Personal Renovation Loan

Best for: $5K - $100K renovations

Rate: 7-12% p.a. (higher than mortgage)
Term: 1-7 years (paid off faster)
Approval: 1-3 days
No property valuation needed
No equity required - renters can apply too
Doesn't touch your mortgage
Total interest: Less (due to shorter term)

Mortgage Refinance (Equity Release)

Best for: $100K+ renovations

Rate: 5.5-7% p.a. (lower rate)
Term: Added to 25-30 year mortgage
Approval: 2-6 weeks
Property valuation required ($300-$500)
Must have sufficient equity (80%+ LVR)
Resets your mortgage (may change rate/terms)
Total interest: More (spread over 25+ years)

The Verdict

Under $50K: Personal loan is usually better - faster, simpler, less total interest despite higher rate
$50K-$100K: Depends on your equity position and how quickly you can repay
Over $100K: Refinancing is usually better - lower rate matters more on large amounts
Renting/no equity: Personal loan is your only option

We can compare both options for you and show which path costs less in total interest for your specific situation.

Before You Renovate: Australian Planning Considerations

Important steps before committing to a renovation loan

Do I need council approval (DA)?

In Australia, most cosmetic renovations (painting, new kitchen, bathroom refits) don't need council approval. However, structural changes, extensions, granny flats, pools, and anything that changes the building footprint typically require a Development Application (DA). Processing takes 4-12 weeks and costs $500-$5,000 depending on your local council. Get approval BEFORE applying for a loan.

Should I get quotes before applying for the loan?

Yes, always. Get 2-3 quotes from licensed builders or tradespeople before deciding your loan amount. Add a 10-20% contingency buffer for unexpected costs (especially in older homes where hidden issues like asbestos, termite damage, or outdated wiring are common). It's better to borrow slightly more than to run out of funds mid-renovation.

Does the renovation add value to my home?

Not all renovations add equal value. In Australia, kitchens and bathrooms typically return 50-80% of the cost in added property value. Extensions and granny flats can return 80-100%+. Pools and luxury finishes often return less than 50%. If adding value is important, focus on functional improvements over aesthetic upgrades.

What about asbestos?

Homes built before 1990 in Australia may contain asbestos in walls, ceilings, floors, and eaves. If your renovation involves demolition or disturbing existing materials, you MUST get an asbestos inspection first ($300-$600). Professional removal costs $1,500-$10,000+ depending on the extent. Factor this into your renovation budget and loan amount.

Can I do the work myself (owner-builder)?

You can do cosmetic work yourself, but structural, electrical, plumbing, and gas work must be done by licensed tradespeople in all Australian states. Owner-builder permits are available for major works but require insurance (typically $10K-$20K) and may affect your ability to sell for 6 years. Most lenders prefer licensed builder quotes for loan purposes.

Richard (Ricky) Esteb

Licensed Mortgage Broker & Founder

Credit Rep #574071 ACN 681 636 056 83+ Lender Panel

With direct experience helping Australians secure home loans, car finance, and personal loans, Ricky founded Esteb and Co to bring transparency and technology to mortgage broking. Every piece of content is written from real-world lending experience.

Verified & Last Reviewed: March 2026 | Content meets ASIC regulatory requirements