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Home Improvement, Design, and Decorating
Reply to "If you did a renovation in the 250-300k range, how did you pay? "
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[quote=Anonymous]Just did a renovation in the spring. Budget was $275k, ended up at $325k. We had planned on doing a HELOC or Home equity loan, but there was a miscommunication between me/DH/GC and they started demo before I got the loan secured so that fell through. So, we used cash, which we pulled from various sources - investments, crypto, our tax return, and the proceeds from the sale on a different home we owned. For a while I thought I might have to ask for a loan from family! Now we have about $900k equity in our home. I don’t love having so much equity tied up, but our mortgage ($150k remaining) is at 2.25% so I don’t want to refinance. But yeah, at the moment, we are pretty cash poor because of the refinance. [/quote]
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