Planning your renovations

Renovations and building projects involve a lot of time and effort. Make sure that your work suits your house, and adheres to local regulations.

• Approval in principle
• Make an appointment
• Contact a mobile banker

Before you plan your renovations

Start by writing down all the things you're looking to change. It is also important to ensure the property is structurally sound. Once you're sure you want to renovate, make plans that add value to your house. For example:

• consider aspects of "liveability" like how your renovations affect natural light, or how you'll entertain guests
• plan additions that are within the current look and feel of your house and area.

Get some estimates on timing, effort and how much additional borrowing you will require. This will give you an idea of the scope of the project and help you plan properly.

Putting together a budget

How much should I spend?

When it comes to renovations, it's easy to let your imagination take over. That's why it's important to step back for a moment and take stock. First, find out the average price of a home in your area. After all, you don't want to spend more on your renovation than your house is actually worth. Next, shop around and get quotes from a few providers to make sure you're getting the best deal. Then, get expert advice on your project and check local planning regulations to make sure you're adhering to them.

Plan your spending

Having a budget is always a great place to start, and our budget calculator makes it easy for you to plan ahead. Just remember to also take any equity you've built up in your home, or extra repayments you've made into consideration as well.

• Calculate your equity

Keep on top of finances and repayments whilst renovating

If you already have a home loan, talk to us about your finance options. If you're only looking to borrow a small amount, you may be able to redraw additional funds from your current home loan.

• Request an appointment

Staying within regulations

Check local planning laws and requirements with your council. You can get regulatory information from:

• ACT: ACT Planning & Land Authority
• NSW: Office of Fair Trading Home Building Service
• NT: Northern Territory Department of Planning and Infrastructure
• QLD: Building Services Authority
• SA: Office of Consumer & Business Affairs
• TAS: Register of Accredited Building Practitioners
• VIC: The Building Commission
• WA: Builders Registration Board

Get a building surveyor to independently check that your renovations comply.