A Renovation Loan is usually made to finance enhancements made inside an existing home. Due to the high expenditures involved in purchasing a new home in Australia, many existing homeowners are choosing to renovate instead.

People mostly renovate their house to improve their quality of life and in order to add value to their existing home. Once you figure out what you want to renovate it is important to make a financial plan. At PFG Home Loans we show you the best way to fund the alteration of your home.

Renovations do not include structural changes to the property, and are usually of a cosmetic nature. Examples of ‘renovation’ include cosmetic items such as minor repairs, landscaping, footpaths, painting, carpet, tiling and furnishings:  

• Renovations do not require Council approval.
  
• Renovation loans, at the absolute discretion of CMM, may be advanced in a single lump sum to the borrower.

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