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We’re here to help

Whether it’s a small upgrade or a massive extension, renovating can be quite a strenuous experience for many people, with lots of different decisions and compromises often having to be made along the way. But of course, that can all be worth it, once you have the result you’re after. As well as providing the funding to help with your renovation, we’re here to guide you through the process and show you what you can expect as you go. Take a look at the steps below.

Step 1

Planning to renovate

Whatever the scale of the work you’re hoping to undertake, it’s always worth doing some planning first.

Consider the following things to make sure you’re good to go:

Renovating tip!

There can be plenty of pitfalls as you go along. To avoid these, take a look at our Home Renovation Survival Guide.


  • Is renovating the right option? How much value will it actually add? Will you be over-capitalising? Or would you be better off moving to another house or building a brand new one from scratch?
  • What are your financial options? Depending on your situation, you may have a range of options to choose from. See step 2 below.
  • Set your budget – it can be a good idea to include a 10% buffer to cover any unexpected extras or surprises that pop up.
  • Find the right people – if you’re using an architect, draftsperson or builder, do your homework by viewing some of their previous work, and doing any checks with regulatory bodies, like Master Builders Queensland.
  • Protect your property – make sure you have the right Home and Contents Insurance before work begins, as this will protect both your property and anyone visiting or working on the site.
Step 2

Working out the numbers

When it comes to managing your money through the renovation process, you may have several options to consider, including:

  • Using your home’s equity
  • Using redraw, if available
  • Using a line of credit
  • Refinancing your existing home loan
  • Applying for a personal loan
  • Applying for one of the home loans outlined in step 3 below

To get an idea of which of these options may be best for your situation, get in touch  with one of our home lending specialists.

Find ways to save

Whichever way you go, renovating your home will cost money. While you may see a financial return on this in the future, in the short term you may need to look for ways to save. To help with this, use our budget planner.

Step 3

Getting your loan

Once you’ve got an idea of why it is you’re refinancing, and the amount of money you might be able to borrow, it’s time to find the loan to suit your needs.

Fixed Rate

Lock in your repayments and have the freedom to plan your budget with confidence.

2 year fixed - Choices 3.72 % p.a Owner occupied
4.80 % p.a Comparison rate
View key features
  • Security of fixed repayment amounts
  • Additional repayments available, up to $10,000 p.a.
  • 1,2,3 and 5 year terms available
Apply now Learn more

Mortgage Breaker

Our full-feature variable loan lets you manage your money so you can pay your mortgage back faster.

1 year intro 3.72 % p.a Owner Occupied
4.91 % p.a Comparison rate
View key features
  • 100% offset facility
  • Access to 3-month repayment pauses
  • Flexibility of a split loan option
  • Unlimited additional repayments
Apply now Learn more
Once you’ve decided on which loan may be right for you, it’s good to know how much you’ll need to repay. Work this out by running the numbers in the calculator below.
Download the home loan application checklist so you know what you'll need when you're ready to proceed with your home loan.
Step 4

Getting the most out of your RACQ membership

When it comes to renovating, we’re here to provide you with the same high level of service and help you’ve come to expect from us. Plus, you’ll also get access to the following advantages:

  • Great low rates and fees, with a range of loans to suit you
  • Flexible options, including the ability to pause repayments
  • Dedicated lending specialists and access to mobile lending
  • Member discounts on homewares and home services
  • Queensland-based 24/7 call centres and dedicated branch network

Get the renovation process underway

Compare our home loans