We spent probably about $500K on "renos" on this house. When we bought it 2.5 years ago we knew it needed a major overhaul so had the costs factored in, although admittedly our budget got well and truly blown - our own choice to blow it because we ended up using top quality everythings from kitchen appliances to a $8K bathtub for our ensuite. We had hoped to be mortgage free at the end of it but have ended up with a smallish mortgage. So, the first $300K or so was paid with cash that we had from the proceeds of the sale of our last house. The last of it by getting a mortgage.

My first house (which I bought alone) I borrowed a little extra at the beginning so I could redo the kitchen. Then a couple of years down the track used the redraw facility to do the bathroom.