Reply to House renov/addition: pay cash? Refi? HELOC?

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[quote=Anonymous]OP again.

I don't expect the stock market to reliably do anything much for the next 10 or so yrs., if not more... I think things are structurally broken badly for a prolonged period. We're about 40% equities/60% bonds/other and may not get more invested than that, maybe less.

downside protection is more important than growth now as long as we can keep pace w/ inflation.  I assume/target only 4-5% yr. from here on out, more would be nice but I won't plan & live off of overly rosy projections.

retirement will include a retirement annuity plus SocSec eventually, and a 4% draw on savings/investment should more than cover our needs.

The HELOC won't go crazy, it has a lock feature so we can lock in at favorable rates, e.g. if we lock in at 2.5% (current) or 3 or whatever, it won't go up from there.  If we leave it as a HELOC balance it floats, but you can lock in any portion at any time at the fixed rate/term.

The last point is one I do consider, though even if we pay all cash we'll have less than half of our net worth in home equity (though less would be even better).

thanks for the thoughts.[/quote]

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