Renovation Loans might be one of the most stressful things to think about. However, there are few things that you can consider in financing the home renovations without even putting your own pocket at risk.

There are a number of ways you can go about financing a home renovation. If you have deeper pockets, you could use your savings , or use some built-up equity from existing property that you own, or secure additional funds through a financial institution.

With some cases, you may want to use your existing funds kept in your loan offset accounts, so that you don’t need to incur any added debt. If you want to accumulate your funds in your offset account; it is best to understand the effect that this can have on your current loan in the long-term.

Additionally, you might also consider borrowing additional capital through your existing property’s equity. This is done by increasing your loan size and then placing all of these funds into your offset account. All in all, this allows you to save on added interest, to help you sustain your expenses.

Our Renovation Loans Wollongong team have excellent and a wide variety of experience in helping with our clients’ renovation projects. Therefore, you can be confident  that we provide only the best strategy that is based on your financial health and outlook.