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Home Improvement, Design, and Decorating
Reply to "how do you pay for house projects (big ones)?"
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[quote=Anonymous]Speak to me like a child so that I understand. We want to build a sunroom. I think it will likely be around 65K. Do we: save for it for a few years and pay for it outright, use the financing offered by the sunroom company, or somehow use the equity in our house to get a loan? Our house has doubled in value in the past 3 years since we bought it, if that matters. The only debt we have is the mortgage. I am really good at saving money (I just mean that it is a comfortable way for me to get things paid for). I am not good at considering other options and getting creative with how to get this project done (like using a short-term investment account or something else). I don't think we need to do this project for about 2 or 3 years, so we have time.[/quote]
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