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Don't prepare to fail

We live in a quick-fix world. Too often would-be renovators watch a couple of episodes of the latest DIY TV show, or some Youtube clips, and run head-long for the tools.

Put simply, any renovation deserves the proper attention and planning if you hope to bring it in on time and on budget. Create a detailed plan and price ceiling and if you’re hiring contractors or a project manager, make sure all parties are in agreeance before breaking ground.

Fail to prepare – prepare to fail. Simple.

Meet issues head on

Once you start to get your hands dirty, it’s possible you may hit a few snags. Whether you’re trying to juggle multiple suppliers and contractors, or you’re just trying to spruce up an older property with decades old plumbing and wiring.

The worst thing you can do when these issues arise is stick your head in the sand. Putting off something today is only going to cause your schedule and budget to blow out.

The old analogy is truer than ever when renovating – a stitch in time saves nine.

1. Identify

Take the time to find the actual root cause of the problem facing your job.

2. Strategize

Meet with your contractors and/or project managers, find out how best to resolve the issue.

3. Implement and review

Put your solution into practice and re-assess your project timeline and budget.

Get the right mix

It’s vital that you carefully consider who’ll be doing the lion’s share of the work on your project.

There’s no harm in wanting to get involved but think carefully.

Do you DIY?

If you know your way around a sledge-hammer, or you’re just feeling ambitious, then by all means step up and have a go at some of the jobs you realistically think you can cover off.

Most of us should steer clear of any specified work, though, like cabinetry, tiling and carpentry. Painting, sanding and demolition on the other hand are easily learned, and are fun to boot…

Use licensed tradespeople

There are some jobs that are not only beyond the skills of the average DIY warrior, they can be dangerous or illegal to attempt.

When it comes to electrical or plumbing work, or asbestos removal, always consult a professional, get a couple of quotes to find the best deal, and ask friends to recommend someone with a solid reputation.

Don't cut corners

Your initial planning should give you a realistic idea of how much you’ll need to get your job done, so don’t skimp and cheat yourself out of the final product you deserve.

1. Discover your borrowing power

Calculate your budget and find out how easily you can finance your project. Our handy Borrowing Power Calculator lets you see at a glance how much you can access.

Borrowing power calculator

2. Get your finance right

We’ve been helping our customers make their property dreams a reality for over 70 years, so we get renovators. We know what makes them tick.

Make an enquiry and start a conversation with a Greater Bank lender today and find the right fit for your needs.

 

Update your insurance

All too often we see it.

The proud renovator puts the finishing touches on their new pool, or pool-room, and forgets to update their Home and Contents Insurance accordingly.

You’ve put your heart and soul into making your patch that little bit better, so make sure you give it the protection it deserves.

Compare Home Loans

Compare 5 products
Ultimate Home Loan
Our ultimate in loans. Our Ultimate Home Loan offers the flexibility of fixed or variable rate, or a mixture of both. What's more, it features a linked offset account and unlimited free online redraws.
Great Rate Home Loan
Our simple, low rate loan that’s perfect if you’re after great value and no ongoing fees. Our Great Rate loan lives up to its name and offers flexible repayment and loan term options.
Line of Credit
Our Line of Credit helps you make the most of the equity in your home. Great if you’re thinking about renovating, investing, or just want more flexibility.
Ultimate Investment Home Loan
Our Ultimate Investment loan combines great value with a range of extra products designed to make investing easier.
Great Rate Investment Home Loan
With low-interest rates and no monthly or annual fees, we've made investment simple.
Interest Rate 1.69 % p.a.
Comparison rate 3.72 %^ p.a.
~1 year fixed, owner occupied, principal and interest
Interest rate 1.69 % p.a.
Comparison rate 3.49 %^ p.a.
~1 year fixed, owner occupied, principal and interest
Interest rate 4.00 % p.a.
Ultimate Line of Credit home loan base rate
Interest rate 2.19 % p.a.
Comparison rate 4.10 %^ p.a.
~1 year fixed, principal and interest
Interest rate 2.69 % p.a.
Comparison rate 3.51 %^ p.a.
~5 year fixed, principal and interest
Key Features
Great if you want a packaged home loan with a low rate and added benefits.
Key Features
Great if you want a low-rate no-frills home loan.
Key Features
Great if you want a continuous credit facility to access the equity in your home.
Key Features
Great if you want a great value packaged loan to invest in property.
Key Features
Great if you want a simple, no-nonsense investment loan with competitive rates.
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Yes. Available once loan reverts to a variable interest rate.
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$395 p.a. Package fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20%-25% dependent on security taken
Maximum loan term
N/A
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$10 per month
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Yes. Available once loan reverts to a variable interest rate.
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
$395 p.a. Package fee
Interest only available
Fixed rates available
Minimum deposit required (without requiring mortgage insurance or a Family Pledge)
20% of purchase price (plus costs)
Maximum loan term
30 years
Parental guarantee available
Property location
NSW, ACT & QLD
Multiple offset accounts
Free redraw online
Additional repayments
Split loan option
Can be used for land & construction (variable rates only)
Can be used for refinance
Fast refi
Available if self employed
Repayment holiday
Ongoing fee
Enquire now Ultimate Home Loan Enquire now Great Rate Home Loan Enquire now Line of Credit Enquire now Ultimate Investment Loan Enquire now Great Rate Investment Loan

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Conditions, fees and charges apply to all loans. Subject to meeting Greater Bank's lending criteria. Greater Bank Limited ABN 88 087 651 956. AFSL/Australian credit licence No. 237476.

~At the end of the fixed rate period customers can chose to re-fix their loan for another fixed rate period or let the loan revert to the applicable variable interest rate based on the loan and repayment type.

^Comparison rate is based on $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

#Discounted rates include a discount on Home Loans of $150,000 or over and Home Loans with an LVR 80% or below and apply to new borrowings only. Discounted rate not available for Line of Credit facilities.

+Additional costs may apply if your loan has a fixed rate.

All new interest-only home loans, attract a 0.10% p.a. margin above the applicable Principal and Interest base rate. All new Line of Credit home loans, attract a 0.10% p.a. margin above the applicable Line of Credit base rate. The all-up interest rate which includes any margins, will be set out in your credit contract. View our Terms and Conditions.