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Best type of loan for a shed/shop?
Posted on 8/7/23 at 4:01 pm
Posted on 8/7/23 at 4:01 pm
Title says it all. Looking to build a shed for a RV and looking for finance options out there. Thanks.
4
Posted on 8/7/23 at 4:21 pm to Uncle JackD
Do you have enough equity to get a heloc? That's what I used.
Posted on 8/7/23 at 8:37 pm to Uncle JackD
How much? How long do you need to finance? Are you having it built, building yourself, or getting it installed? You may have access to incentivised lower interest financing through builder, manufacturer, supplier of materials or perhaps even a zero interest credit card balance transfer.
Posted on 8/7/23 at 8:56 pm to Uncle JackD
How much is the shed/shop cost? I can’t imagine only having 100k in equity in my primary residence and owning an RV worth enough to necessitate a shed to protect it.
Take a step back. Does it not sound somewhat ridiculous that you are taking equity out of your primary residence to build a shed to cover your toy/hobby residence?
Take a step back. Does it not sound somewhat ridiculous that you are taking equity out of your primary residence to build a shed to cover your toy/hobby residence?
Posted on 8/7/23 at 9:12 pm to Uncle JackD
You can probably rent a covered storage space for around the same cost of your interest payment (if you’re getting a HELOC).
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