finance renovation Archives - Superior Renovations

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Q Mastercard® (18 Months Interest Free)^ Option for renovations

Are you thinking about Renovating? or perhaps it’s been on your to-do list for while?

As Auckland prices soar, more people are renovating their homes than ever before. Most families want to renovate to either re-sell or add functionality and comfort to their existing homes as the needs of their families evolve.

People are reluctant to sell their current homes for larger or more modern homes because of several reasons. Some of our clients were reluctant because they love their current neighbourhoods or because a better home might mean moving further away from the central suburbs of Auckland.

The Auckland housing market is also not the best if you want to sell your home. So instead they look at renovating their homes to suit their family’s needs.

This article will cover the following topics:

  1. Types of renovations and their average cost in Auckland
  2. Top 3 reasons Aucklanders are using Finance vs Savings for renovations
  3. 4 Most common payment options available for Renovations in Auckland
  4. Interest Free^ options with Q Mastercard® (Our newest Partnership)
  5. Qualification process for Q Mastercard® Flexi plan
  6. Fees and Payments for Q Mastercard® Flexiplan for renovations
  7. Most commonly asked Questions

An Average of what you can expect to spend on renovations in Auckland

The costs and prices reflected in the following table reflect average spent on renovations in Auckland. These prices reflect what you would spend with a renovation company similar to ours. Renovation companies include the cost of design, demolition, materials used in renovation, installation, all trades, and project management in their quotes. If you are doing a DIY project or managing the renovation, supplies and trades on your own the costs will differ from what are listed in the table below.

Renovation Type Average cost in Auckland
Full Bathroom Renovation $21,000 – $35,000
Full Kitchen Renovation $24,000 – $50,000+
Bedroom/s Renovation $2,000 – $80,000 +
House Extension $60,000 – $200,000 +
Re-roofing $15,000 – $30,000 +
Re-cladding $100,000 – $400,000 +
Full home renovation $80,000 – $300,000 +
Loft conversion/Adding a second storey $200,000 – $400,000 +
Walk in wardrobe $3,000 – $10,000 +


The table gives you an idea of what time of money you will be putting towards a potential renovation. Before you start renovating, we always advice clients to work out the reason for your renovation as this will determine the amount you are willing to spend. If it is just to add value to a renovation, then it is unlikely that you would customise your renovation to your taste which means that the price would be at the lower end of the spectrum. However, if you are planning to live in the house after renovation then you can customise it according to your needs which means that you would be willing to use more higher end materials.

3 Reasons why Aucklanders are looking to Finance VS Savings for renovations

Finance is less Risky than Using savings

Financing a renovation is less risky than using savings that you have carefully accumulated over the years. On an average a bathroom renovation in Auckland starts from about 21K and a kitchen from about 25K. Taking that kind of money at one go can prove to be risky for any family if an unforeseen circumstance is to occur.

A steady cashflow

Using Finance to fund your renovation allows you flexibility and more control of your cashflow. Paying your renovation off monthly, weekly, or fortnightly means that your savings are intact, and you are able plan your finances better. There are several finance options available in Auckland which we will discuss in depth further along the article.

Using Finance means you can start your renovation now

Not everyone has the freedom to renovate whenever they like as its hard to save a good chunk of money that is required for renovations. Using finance to fund your renovation means that you do not have to save up money to renovate. You can start your renovation when you feel like there is a need.

4 Most common types of Payment options for renovations in Auckland

There are plenty of finance options available today. As every person has unique financial situations and needs, it is always good to do some research and receive financial advice for what works best for you. The most common types of finance available in Auckland are as follows:

1. Bank Loans

Once you have secured your collateral, different banks will give you loans with various interest rates. You can either contact several banks or go with your own bank to seek out the best available deal for you. This process can be daunting as banks have highly strict and regulated rules for renovations loans. You will have to do your due diligence and present your application well to be able to qualify for a loan.

2. Finance Company loans

These are loans granted by finance companies and are like bank loans. They do however have a higher chance of getting accepted as they are more lenient with their criteria. They also provide more competitive interest rates.

3. Home Loans

We collaborate with Linda Eagleton from Loan Market to provide home loans to our clients. Linda essentially acts as your agent between a bank and yourself. She asses your affordability and financial situation and draws up a plan to borrow against your assets. As loan market has long standing relationship with all the banks in New Zealand, they know all the rules and regulations to get your application accepted. You will be at an advantage if you already have an existing loan or the home has equity because then you will be accessing more funds for your borrowing at reduced rates.

Read more about home loans in our Q and A article with Linda from Loan market


4. Interest Free^ options with Q Mastercard® – Our newest partnership

We have recently partnered up with  Q Mastercard® offering our clients up to 18 month interest free. This allows clients to breathing space by taking the pressure off paying now for things that are most needed by you. Q Mastercard® interest free offers gives customers the ability to be able to pay off their renovation in interests with zero interest. ^lending criteria, fee and conditions apply. 


Q Mastercard® right for you?

Q Mastercard® gives clients flexibility of paying for renovations in installments without paying any interest. With Superior Renovations 6 months, 12 months, and 18 months interest free^ terms you can leave your savings in the your bank and use of our the interest free offers to get your renovation done today. ^Ask one of our teams for the full terms and conditions.

Qualifying Process for Long term Q Mastercard® Finance

Q Mastercard® qualifies clients based on their lending criteria and hence approve a limit for individuals.

You can do partial or full payment on Q Mastercard® depending on your approval limit. To apply for a Q Mastercard® we have outlined a simple process below. Please note the approval amount does depend on Q Mastercard® lending criteria.

Who is eligible to apply?

To apply you need to be 18 years or older, hold a current NZ Driver license and either be a New Zealand citizen or permanent resident. You will also need a valid email address, mobile number and agree to a credit check.


Next steps after you are approved:

Step 1: Once approved

Upon submitting your application, you will receive a customer ID number via email. Call us on 0800 199 888 with this number and we will walk through your interest free options. Depending on the amount you are approved for, we will see whether you want to do a full or partial payment on Q Mastercard®.

If you already have a card:

We accept Farmers Mastercard, Q Mastercard® , Flight centre Mastercard and Q card. Existing members can enjoy the benefit of applying for our interest free offers. Please call our team at 0800 199 888 with your card number for us to process.

Step 2: Transactions and Payments

According to what you have agreed with us on our contract with you will we transact the amount accordance to your payment structure.

The full amount will be transferred into your account which will be shared with Superior Renovations. We will set up the transaction structure according to the payment structure in our contract with you.

For example for a bathroom renovation the payment structure will be as follows:

  • 10% – Initial deposit to secure booking/project
  • 40% – Prior to commencement of the renovation project
  • 30% – On completion of tiling
  • 20% – Remaining balance on completion/ sign off

You will be able to see these transactions as well as us. Our accountant will send you an email 2 days before the transaction to get your approval for the transaction according to the progress of your renovation and contract. Only once you have approved will the accountant transact these amounts into our company account.

Step 3: Completion of project and your term with Q Mastercard® begins

Once your renovation is completed and you are satisfied will be mark your project as completed. The project manager will sign of the project with you and our accountant will send you an email about the final 20% payment. Only once you have approved this will we transact the final amount.

Once the final payment is made will your term with Q Mastercard® begin. This means that only once your renovation is completed will your 6 month, 12 month or 18 month interest free term with  Q Mastercard® begin.

Fees for Q Mastercard®

What does the payment plan look like?

Here's a snapshot of what it would look like if you renovated with us (with a Project Value of $18,500) on a 6 & 18 month term interest-free finance

6 Months

$715.57/ per week
  • Renovation Cost – $18,500
  • Annual Account Fee – $50
    Annual Account Fee Applies, paid in 6 monthly instalments
    ($25 applied on opening and every six months thereafter)
  • New Cardholder Fee – $55
    $35 for Existing Cardholders
  • Total Paid: $18,605


18 Months (Most Popular)

$238.84/ per week
  • Renovation Cost – $18,500
  • Annual Account Fee – $75
    $50 Annual Account Fee Applies, paid in 6 monthly instalments
    $25 applied on opening and every six months thereafter
  • New Cardholder Fee – $55
    $35 for Existing Cardholders
  • Total Paid: $18,630


Please note: Minimum payments of 3% of the monthly closing balance or $10 (whichever is greater) are required throughout interest free period. Paying only the minimum monthly payments will not fully repay the loan before the end of the interest free period.

The figures above are only to provide you an example based calculations made at the time of creating it (November, 2020), rates/fees/terms and conditions are subject to change at any time by Q-Card. Please refer to Terms and Fees on Q-Cards website for up to date information.

Budgeting for a renovation

It is always good to draw up a budget when renovating your home in accordance to your financial situation. If you are renovating a family home to live for the foreseeable future then you can renovate to maximise comfort and functionality. You can renovate materials that are specific to your taste. There is no real risk of over capitilising for such renovations. We still recommend you to draw up a list of priorities to see the areas that you can renovate first.

If you are renovating an investment property for either rent or re-sell then drawing up a budget is even more important. When renovating investment properties there is always a risk of overcapitilising. Try and renovate areas that will increase the value of your home and give you the best return on your investment.

When adding value to your home, you want to renovate with quality products but not personalise your renovation. Another consideration is to carefully plan your budget as well as renovate rooms that actually add monetary value to your home. Rooms like bathroom, kitchen and repainting your home will add the most amount of monetary value to your home when re-selling.


Most commonly asked questions

What kind of payment options do you provide on Q Mastercard®?

At Superior Renovations we provide 18 months Interest free with a minimum spent of $985

How long does it take to do an application for Q Mastercard®?

For sales under $10,000 you will use the link provided by our team to do an online application. This will take 5 minutes to complete. For sales over $10,000 you will submit an online application form and you will also fill statement of finance position with a proof of income to request for credit limit. This will take 3-4 working days.

How do I access Interest free offer with Superior Renovations?

If you are an existing Farmers Mastercard, Q Mastercard® , Flight Centre Mastercard or Q card you can enjoy our interest free offers. Please call our team at 0800 199 888 for us to secure the interest free rates for you. If you do not have any of these cards then call our team and we can guide you through on the application process.

How much Interest do I have to pay on repayments?

Our interest free offers are at 0% interest to you. You are required to make a minimum payment of 3% of the monthly closing balance or $10 (whichever is greater) throughout the interest free period. Paying only the minimum will not fully repay the loan before the end of the interest free period. See full terms and conditions on free-finance-terms/

Is there any additional fees?

Annual account fee of $50 applies. New cardholders fees - $55 establishment fee. Existing cardholder fee for advance of payments is $35

How do I set up repayments?

You can set up online banking or do direct debit. The ways to repay Q Mastercard®:

How much can I pay through Q Mastercard®?

This will depend on what you have approved for through the Q Mastercard® process of qualifying. Once they have processed your application, you will have an approval limit. Based on that you can decide whether you want to partially pay for renovation or fully pay for it.

Is there a minimum that I have to spend with you to use Q Mastercard® for an interest free option?

As we do full renovations of any given area, our minimum for a renovation is at $20,000. You can however decide based on your approval limit from Q Mastercard® to fully or partially use that for your renovation


Please note:
 Whilst all information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the information. The information may change without notice and Superior Renovations is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.


Further Resources for your house interior design

  1. Ideas for Bathroom renovations in our bathroom renovation gallery of bathrooms we have renovated in Auckland
  2. Ideas for Kitchen renovations in our kitchen renovation gallery for kitchens we have renovated in Auckland
  3. Featured projects and Client stories to see specifications on some of the projects.
  4. Real client stories from Auckland


Want to see if you qualify?*

Fill in your details below to be taken to the application page – there’s no obligation to proceed or renovate.

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*Please note:  Lending criteria, fees, terms and conditions apply.



Superior Renovations is quickly becoming one of the most recommended renovation company in Auckland and it all comes down to our friendly approach, straightforward pricing, and transparency. When your Auckland home needs renovation/ remodeling services – Superior Renovation is the team you can count on for high-quality workmanship, efficient progress, and cost-effective solutions.

Get started now by booking a free in-home consultation.

Request Your In-home Consultation 

Or call us on   0800 199 888


House Renovation

Guide to Financing Your Renovation in NZ – Home Improvement & Renovation Loan

Are you thinking of renovating your home?

With rampant house price growth in Auckland, more and more homeowners are not trading up but are renovating their current houses. The challenge with renovations is knowing the different finance options while maintaining a budget. A right home loan for your renovation project will make your home more liveable and also increase the home’s value when the project is completed.

The idea of renovating a property is always exciting because it promises a new aura and an upgrade to a new and modern space. However, the main obstacle standing in between people and their desired goal is the finance for the renovation.

Most people aim to get an excellent renovation deal at an affordable rate. The financing provides a great way for your ideal renovation, without sacrificing the quality.  We have provided you a guide below on everything you need to know about financing your renovation.

What must I do before starting my renovation?

Before you renovate your home, you must know the cost beforehand. The cost, however, would depend on your budget, the extent of the renovation, architectural fees, and any legal/ consent process involved.

The table below summarizes some common renovation types and the range of their prices.

Renovation type Price Range
Kitchen Renovation $21,000 – $50,000+
Bathroom Renovation $18,500 – $30,000+
Bedroom/s Renovation $2,000 – $80,000+
Walk-in-wardrobe $3,000 – $10,000+
House Extension $60,000 – $200,000+
Loft conversion/second storey addition $200,000 – $450,000+
Re-cladding $100,000 – $400,000+
Re-roofing $15,000 – $30,000+
Full house renovation $80,000 – $300,000+


Now, you have an idea of what to expect when working on your project. However, the best way remains consulting with a renovation specialist. After the consultation, the next step is to decide on whether their plan of action works for you. Also, it is at this point that you mount up your budget against the specifications.

The renovation comes with added value

It is not surprising that renovating your home would see its value increase. The mortgage brokerage Loan Market, New Zealand (1) has documented similar findings, stating in its report that house value do increase with the right renovations carried out.

There are specific ways of adding value to your property to get the best results. For example, an additional bedroom would most likely carry more weight than just a bathroom renovation. The installation of home security gives a massive boost as well. If on a very tight budget, you may just opt for repainting with more neutral colors. This also adds some value to your property as it will cater to a wider audience.

A multidisciplinary approach should be taken when running your renovation project so make sure you contact the right set of people. This mainly includes a real estate agent, finance specialists, architect and a project manager.

Most common renovations that adds the most value to a home

  1. A fresh lick of paint
  2. Update your kitchen
  3. Upgrade the bathroom
  4. Create more space
  5. Create an outdoor entertaining space


What finance options do I have for my renovation project?

Getting finance for renovation may not be as easy as you think unless you have the right person representing you.

The most common home renovations loans in NZ, include:

Bank loans: After securing your collateral, banks would give you loans with varying interests. You can navigate banks for the best loan deals or normally a broker does this for you.

Finance company loans: They are similar to bank loans in many aspects, but they have a higher chance of acceptance, non-bank lenders offer a range of other advantages over the banks; They are in a position to be more competitive and tend to offer more competitive interest rates.

Home loan: Superior Renovations collaborates with Linda Eagleton from Loan Market, and she will assess your affordability, and financial situation to decide what the plan is to borrow against your asset. At this point, you would be at an advantage if you have an existing loan, or the home has equity because you would access more funds for your borrowing for your renovation, and you would get reduced interest rates accordingly.

Where do I begin to find out more about financing my home renovation?

First, begin with booking a time with our finance specialist Linda Eagleton from Loan Market, just fill in the form below and we’ll forward your contact details on – no obligation to proceed, just free advice.

How do I track my renovation costs via financing it through my home loan?

Superior Renovations project manager will be working closely with Linda (finance specialists) at every step of the project to ensure everything is running smoothly – you will also be kept up to date at each stage.

Before kicking off with your project, check out the features on a home loan. Choosing among the various financial home loan options puts you in the driving seat for your property renovation.

These options include:

  • Redraw facility

On a few occasions, you may need more money than what you have secured from your renovation loan. This is where the redraw facility comes in. It gives you access to more funds, and they are added to your home loan.

In essence, a redraw facility provides funds at the point where they are needed the most, and it does so in style. Smaller projects usually benefit more from it.

  • Equity loans

With equity loans, you can know the extent of the equity that your property carries, and in turn, this helps you to fund your renovation project.

Accordingly, the finance for a renovation that you can get depends on how much equity your property has alongside the serviceability criteria. However, as a rule of thumb, you can’t get more than an 80% borrowing amount even with full ownership of your property.

  • Loan top-ups

As the name implies, you can top up the credit on your current home loan. This leaves you more finance for renovation. Basically, it hinges on the standing equity that you have on your property and then gives some of it back to you.

This option evades the expenses concomitant with getting a renovation loan from external sources. However, you cannot keep drawing your interest to the initial level that you’ve agreed upon, like in equity loans. Thus, if you need more funds, then consider applying for another top-up loan. Depending on the availability, you may be restricted from borrowing a minimum amount in the range of $10,000.

  • Renovation/construction loans

For bigger projects, your borrowing for renovation may hit six figures, like if you want to add a larger ground floor. Projects like this require a different financial type like in a renovation or construction loan.

Construction loans take care of your renovation in stages. This is different from customary residential home renovation loans in NZ, where a one-time amount is given.

Linda-Eagleton-Loan-Market-circke, Kitchen Renovation, Bathroom Renovation, House Renovation AucklandA bit about Linda Eagleton

Superior Renovations Finance Specialists from Loan Market

Linda prides herself on high levels of customer service and communication. It is important that you fully understand the process and feel comfortable at all times. She will work beside you and represent to the bank, on your behalf to achieve the best possible outcome for you.


How Linda will work for you:

  • Quickly assess how much you can potentially borrow, estimate your what your repayments will be and convey the best lender to suit your individual needs.
  • Negotiate with the banks (or lender) on your behalf to secure an approval and a competitive market offer for interest rates. (Linda works with over 25 banks and lenders.)
  • Advise you on the best loan structure to suit your individual circumstances, so your mortgage is meeting your requirements now and also in the future.
  • Provide ongoing expert financial advice for the life of your loan.
  • Linda’s service is at no cost to you.

Interested in having a no-obligation chat with Linda?

Fill in the form below to get in touch, and she will organise a time/day that suits you to have a sit down and chat.

Spam Prevention:




Superior Renovations is quickly becoming one of the most recommended Kitchen Renovation & Bathroom Renovation company in Auckland and it all comes down to our friendly approach, straightforward pricing, and transparency. When your Auckland home needs renovation/ remodeling services – Superior Renovation is the team you can count on for high-quality workmanship, efficient progress, and cost-effective solutions.

Get started now by booking a free in-home consultation.

Request Your In-home Consultation 

Or call us on   0800 199 888

What must I do before starting my renovation?

Before you renovate your home, you must know the cost beforehand. The cost, however, would depend on your budget, the extent of the renovation, architectural fees, and any legal/ consent process involved.

What renovations adds the most value to a home?

A fresh lick of paint, Updating your kitchen, Upgrading the bathroom, Create more space and Creating an outdoor entertaining space.

What finance options do I have for my renovation project?

You can choose between Bank loans, Home Loans, Finance Company Loans, or Construction/Renovation Loans.

What are finance options with a home loan?

There are 4 options via financing with a home loan, redraw facility, equity loans, loan top-ups, and renovation/construction loans.



finance-badge1000x1000, Kitchen Renovation, Bathroom Renovation, House Renovation Auckland

Have you been putting off getting renovations done?

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Learn More about Interest-Free Payment Options*

*Lending criteria, fees, terms and conditions apply. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.



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