Hi everyone, We are looking to buy our first property, PPOR. Very exciting and scary time ha! We have been conditionally approved to purchase a property of 850k. After reading many threads on the forum and posting my own, we have decided to focus our attention on an unrenovated house. My question is how does it work with finance for renovation? Do bank loan money based on future value? Let's say we buy an unrenovated house for 600k. Recents sales in the area show that renovated properties of the same size sold for ~900k. (Numbers are hypothetical) So loan on purchase would be IO 540k. We'd have to pay the 10% + duty, let's say 95k. That would leave us with 55k in the offset account. Not enough to renovate. Is there a type of loan that we could access then? Based on the 900k value of the house after renovation? Serviceability wouldn't be an issue. Thanks!