Set a realistic budget
You can do this in 3 simple steps.
Take a look at what sells in your area, this may help guide your plans.
Put your renovation plan together and cost it (with the help of a builder and someone experienced with managing council or building approvals).
Add a 20% contingency, and then stick to this limit.
Renovating, how do I finance it?
One option to finance a renovation is to consider refinancing your mortgage and possibly increasing your loan to pay for the renovation.