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Kitchen remodel
Posted on 2/3/14 at 11:37 am
Posted on 2/3/14 at 11:37 am
Would you do a HELOC to finance?
Pros and cons.
Pros and cons.
4
Posted on 2/3/14 at 12:28 pm to new roads
no. I would pay for it out of pocket or I wouldn't do it personally.
Posted on 2/3/14 at 12:29 pm to new roads
It's me but I would never risk my home for anything. I would set a budget start making cuts allocate money and pay cash.
Kitchen remodels are not difficult to DIY, appliances flooring cabinets that's it, you can do the demo yourself you can instal the flooring yourself plumbing electrical pay someone to do it adding outlets lighting etc. even installing the cabinets are simple. Countertops that's included in your price.
Kitchen remodels are not difficult to DIY, appliances flooring cabinets that's it, you can do the demo yourself you can instal the flooring yourself plumbing electrical pay someone to do it adding outlets lighting etc. even installing the cabinets are simple. Countertops that's included in your price.
Posted on 2/3/14 at 12:32 pm to new roads
Pros:
*Don't have to take it all out at once, can draw it as you need it
*Interest is tax deductible if you itemize
*HELOC is open for future use (often 10 years)
*Can often set up as interest only payments (can also be viewed as a con)
Cons:
*Usually not a fixed rate
*Not fixed payments so don't know when it will be paid off
*Don't have to take it all out at once, can draw it as you need it
*Interest is tax deductible if you itemize
*HELOC is open for future use (often 10 years)
*Can often set up as interest only payments (can also be viewed as a con)
Cons:
*Usually not a fixed rate
*Not fixed payments so don't know when it will be paid off
Posted on 2/3/14 at 12:35 pm to new roads
Put half of it on a chase SP card and the other half on an Amex spg card
Boom - collect those points and perks, then pay off with a heloc through chase and tie in relationship with a preferred checking account
Edit - I clicked on the credit card point and benefit thread last week and have become obsessed with how these programs work.
Boom - collect those points and perks, then pay off with a heloc through chase and tie in relationship with a preferred checking account
Edit - I clicked on the credit card point and benefit thread last week and have become obsessed with how these programs work.
This post was edited on 2/3/14 at 1:03 pm
Posted on 2/3/14 at 5:07 pm to nelatf
Thanks for the input.
I could just pay cash in two or three years but the minimal interest expense to enjoy the kitchen another couple of years is attractive.
Just not interested in dipping into much of savings to do it.
I could just pay cash in two or three years but the minimal interest expense to enjoy the kitchen another couple of years is attractive.
Just not interested in dipping into much of savings to do it.
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