Aussies want sustainable renovations but at what cost?

By Paige Sutton · · 2 min read
Fact Checked
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Couple with solar panels

Around 3.5 million Australians are looking to make improvements to their home in the next six months, however only three-quarters are considering sustainable changes. 

This is according to research by KPMG and the Green Building Council of Australia, which also explores the benefit of eco-friendly options.

For example, when home renos factor in energy efficiency, it can save an Aussie household up to $1,600 per year on bills, according to KPMG and the GBCA. 

However, there are some barriers that are stopping people from sustainable renovations such as the overall expense, with 60% of people agreeing that costs can quickly rack up. 

A lack of information or knowledge is also seen as a hurdle, with the majority of those surveyed not knowing where to start. And, 27% weren’t actually sure about the benefits either. 

Yet, almost two-thirds were interested in learning more about how they could make their home more sustainable. 

Personal loans: finding your way with home renos

To help simplify sustainable renovations, Allianz Australia and GBCA have partnered to launch a technical manual and checklist for sustainable home improvements. 

While this helps fill the knowledge gap, there is still the issue of upfront costs. There’s no simple answer though personal loans can help, providing a great option if you need some extra help funding. 

A personal loan works like any other loan, where you borrow a principal amount and pay that amount back over a term and any additional interest, depending on the interest rate. 

For example, if you borrowed $15,000 at a 10.47% interest rate, which is the current average in the Mozo database, over a 5 term, your repayments would be $322 a month. This makes covering your reno expenses a bit more manageable!

If you are after the best interest rate for a renovation loan, check out our renovations loans providers page - or compare personal loans down below. 

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Last updated 7 May 2025 Important disclosures and comparison rate warning*
  • Low Rate Personal Loan

    Excellent Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.45% p.a.to 26.95% p.a.
    6.45% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.45% would cost $35,176.93 including fees.

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  • Secured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.90% p.a.to 19.19% p.a.
    6.33% p.a.to 20.77% p.a.based on $30,000
    over 5 years

    Competitive rates depending on credit score. No monthly or early repayment fees. No penalties for paying your loan off sooner. Borrow from $5,000 to $80,000. Your choice of 3, 5 or 7 year terms. You will be given the option to use a vehicle as collateral to secure your loan. One upfront fee applies.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.90% would cost $35,025.41 including fees.

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  • Debt Consolidation Loan

    $5,000-$75,000

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 19.39% p.a.based on $30,000
    over 5 years

    Competitive fixed rates on loans up to $75,000 depending on your credit score. Zero monthly account keeping fees, no exit fees and no early repayment fees. Make weekly, fortnightly or monthly repayments, over 1 to 7 years managed entirely online, at any time. Fast and easy, 100% online application.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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  • Ready Credit Personal Loan - 3 Year Fixed Rate, Balance Transfer Offer

    Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.90% p.a.
    n/a

    Enjoy a competitive rate on the initial balance that you request to be transferred to your bank account within 3 months of approval. Choose your repayments each month above the minimum payment due. Apply online in as little as 10 minutes. Only pay interest on the amount you have used, not on your whole credit limit. A one-off establishment fee of $249. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

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* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

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