Your borrowing strategies are the key to your successful renovation flip project but how do you decide which finance solution is right for you and your project?

Are you looking to transform your home from ‘blah’ to ‘brilliant’, but lacking the funds?

Do you clearly understand how borrowing strategies work to support your mini or major makeover?

Whether you want to make a few finishing touches to your home with the help of a paint job or completely turn your home into something magical, there is a Fix or Flip renovation finance solution to meet your needs.

Real estate agents often refer to properties as a “renovator’s dream”. If this is how they describe your home, you’re leaving money on the table by not looking at options to do a mini makeover.

Finding the most convenient way to pay for any renovations is the real ‘dream’ for home owners and now it’s possible with Fix or Flip Finance.

We understand that all our personal circumstances are different and you should only look at using renovation finance if you believe the work will improve the value of your home or will result getting your home to function how you want without over capitalisation.

The basis of a good renovation budget is setting a realistic one in the first place.

Once you do that, and your fiance is approved, we help you stick to it.

Here are a few tips to help you get started with understanding finance borrowing strategies.


If you’re a complete novice, or simply not very disciplined, now is the time to learn how to budget properly. Start by reading our budget guide for beginners then, learn how to use our budgeting tools:

Budget Planner Calculator.

  • A realistic goal, budget or project needs to be SMART.
  • Specific – what exactly are you spending money on?
  • Measurable – how much do you need to spend on each item or stage?
  • Attainable – can you (really) afford it?
  • Realistic – does it fit into your budget without compromising other expenses.
  • Timely – is it the right time?
  • Do you need to prioritise other expenses?
  • Will you be able to make payments on time?

Sticking to a budget takes willpower. As painful as it may seem, you need to start practicing patience and may need to start saying no to a few luxuries.


It’s scary how quickly things can add up on renovation projects and realistically it’s impossible to set a realistic budget until you get detailed renovation costs and quotes.

There are some helpful FREE renovation budget calculators and cost guides available online.

Don’t try and guesstimate your costs. If you’re doing a big renovation or extension you absolutely need plans and designs that you can get proper quotes on.

Architects, designers, builders and engineers are the kind of professionals you need to get advice from.

finance borrowing strategies


Once you have detailed renovation costs, decide what you must have and what you’re willing to live without.

Get professional advice from your local real estate agent to help figure out where to save and where to splurge. You need to know what will add value to your home: in the short and long term.

Avoid spending money that you won’t get back when you sell. That’s called overcapitalising. If you plan to live in the home for the long term it may be less of an issue for you.


Some builders may offer fixed-price contracts. If their price is more than a standard contract, it’s because they’re taking a risk on any over-spend or delays, not you.

It could be worth the extra you pay to know exactly what you have to pay for upfront (and make it much easier to stick to your budget).


If there’s one thing that’s certain in life, it’s that your renovation will cost more than you think.

Even with the most detailed plans and cost guide, the unexpected can happen. It’s recommended you add between 10 and 20% of the cost to your project to your budget.

This buffer helps pay for unexpected costs, like unforeseen structural issues or ground works. This is what’s called a ‘contingency’, and every good renovator should have.


Categories: DIY Tips and Tricks

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