Has anybody used a home equity loan or home equity line of credit to do some home improvements? I've always read that they are good to use for remodels, etc bc you are adding the value right back to your home. I have paid out of pocket for several things I have done so far but there is a lot more I would like to get done before this November when our first baby arrives. Here is the list in order of priority:
1. Add walk-in closet to master bed room
2. Remodel master bath shower and change from single sink to double vanity
3. Do some painting ($2300)
4. Reseal driveway ($4300)
I would like to do most of this myself, but I work 50+ hours a week plus I am working on my Master's Degree and my wife is pregnant so I don't really have the time..
I'm getting quotes on #1 and #2 this evening..
I believe I have about $60-$70k in equity in the house but I am also interested in refinancing hopefully when rates hit rock bottom from all this COVID crap going on.
Any insight and advice is appreciated!
Thanks
1. Add walk-in closet to master bed room
2. Remodel master bath shower and change from single sink to double vanity
3. Do some painting ($2300)
4. Reseal driveway ($4300)
I would like to do most of this myself, but I work 50+ hours a week plus I am working on my Master's Degree and my wife is pregnant so I don't really have the time..
I'm getting quotes on #1 and #2 this evening..
I believe I have about $60-$70k in equity in the house but I am also interested in refinancing hopefully when rates hit rock bottom from all this COVID crap going on.
Any insight and advice is appreciated!
Thanks