how do most people pay for a renovation?
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Anonymous
| save up for it? finance it somehow? |
Anonymous
| HELOC. |
Anonymous
| Combination of save and HELOC |
Anonymous
| Construction loan, HELOC, savings |
Anonymous
| We're doing a kitchen reno and paying cash out of our savings. |
Anonymous
| Cash |
Anonymous
|
Who knows how most people do things, but the only thing we finance is our mortgage, the first time. Everything else is cash. We did renovation that was 150K and we paid cash.
We want to retire early. |
Anonymous
| We paid cash - $250K+ renovation. We saved up for it. And no, we didn't keep it in cash while we were saving. Kept it in stock and mutual funds. If the market had crashed, we wouldn't have renovated. We did sell what we needed as we signed the renovation contract so we knew we had the money. |
Anonymous
| Saving up or HELOC. |
Anonymous
| saved up but we only spent like $30k and that was tight for us at the time. |
Anonymous
| For the big one we paid for half with sav8ng an refinanced our mortgage for the rest. For the other two, we saved up for it. |
Anonymous
| Bonus money |
Anonymous
| Saved up and paying cash |
Anonymous
| bought new instead of old |
Anonymous
| Construction loan + cash, then we refinanced after we finished. Renovation cost $1.1m. |