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Should we wipe out savings or go with home equity line of credit to finance home improvements?

Home Improvements

by PB-PSBear

Question by boots: Should we wipe out savings or go with home equity line of credit to finance home improvements? My husband and I are debating how to finance some home improvement projects. He says use savings, I say use a line of credit(repay within two years hopefully) I am afraid if we use savings we will never replace it. He doesn’t want debt. Any opinions?

Best answer:

Answer by Joe CNeither. Never use all of your savings or borrow money for a luxury expense.

Save up the extra money and pay cash.

What do you think?

Continue reading Should we wipe out savings or go with home equity line of credit to finance home improvements?

Category: Home Improvements | 2 comments

home improvements?

Home Improvements

by jps246

Question by YOUNGMOM04: home improvements? my husband and i bought our first house in december of ’06. we just now got a little money to start doing a few home improvements and we thought about starting out with the cheap stuff in the living room, kitchen and bathroom. the plan is to paint, put in new light and faucet fixtures, pull up the carpet in the living room and hallway. if we have a little extra money we may replace the counter tops in the kitchen. i had also thought possibly buying sofa and recliner chair covers

Continue reading home improvements?

Category: Home Improvements | 2 comments