Anonymous
Post 05/24/2018 09:24     Subject: how do most people pay for a renovation?
Savings.
Anonymous
Post 05/24/2018 09:20     Subject: how do most people pay for a renovation?
Cash
Anonymous
Post 05/24/2018 09:15     Subject: Re:how do most people pay for a renovation?
Anonymous wrote:Savings - except for my mortgage we don't take on any debt.


Yep this. We save up for it (currently have around $1,100 going towards home renovations per month in our current budget). Once they are done we'll still save some towards it, but nothing like it is now. The house was built in the early 80's, the last home owners didn't update much. We're finally in the home stretch though, which is great!
Anonymous
Post 05/23/2018 13:31     Subject: Re:how do most people pay for a renovation?
Anonymous wrote:Savings - except for my mortgage we don't take on any debt.


Same. But my house is also not as remodeled as most. Some people have a higher tolerance for debt than others. I agree most people I know have a HELOC and use it for all manner of things.
Anonymous
Post 05/22/2018 23:12     Subject: Re:how do most people pay for a renovation?
We take a loan out our credit cards with a transfer fee of 2% and the term is about 18 months. I don't want to sell my stocks and can afford to pay it back within 18 months.