4 Step Guide to Renovating or Building a Home
1. Consider your options
Like the location of your home and don’t want to leave your local community? Get a new home feel by renovating or extending your house to suit your situation.
Or perhaps you feel like a sea change and want to build your dream home from scratch.
Once you’ve made your lifestyle choice, we can help you with financing your decision.
2. Do your calculations
The amount you can borrow will depend on your income and living expenses, your credit history, and your current assets.
Use our calculators to make informed decisions about borrowing money and repaying your loan.
3. Protect your home
After renovating, it's important to review your insurance policy to ensure it provides adequate cover. Use our Home Replacement Calculator to recalculate how much you should insure for.
Victoria Teachers Credit Union is an agent for two of Australia's leading Insurance companies: Allianz and CGU Insurance. To obtain a quote call our friendly Insurance Consultants on 1300 654 166, or obtain an online quote for Allianz Insurance.
4. Choose your loan
If you're thinking about renovating, there are many ways to access extra funds: by redrawing from your home loan if you have funds available; obtaining a Equity Line of Credit; or increasing or refinancing your current home loan.
If you're thinking about building, Victoria Teachers Credit Union offers a Construction Loan with features like 100% offset and no monthly administration or redraw fees.
We offer other Home Loans to suit your renovation needs. View our Home Loans.