Out of money do we need a loan?

1 Reply

We bought a home for 122k it is appraised for 149k. A home on the same street just sold for 151K. It was a foreclosure in good condition just needs updating. We have invested a lot of our own money at least 11k and still would like to update 2 full baths, the 1/2 bath and the kitchen along with a major landscape overhaul. Emotionally we hate coming home to the odd floor plan and 1970s kitchen and bathrooms. We just don't have anymore money. The good angel in me says we should wait to save the money for the rest of the redos and pay as we go, but the non-traditional/bad angel in me says just get a loan and get everything done. What should we do, what is the smart thing?

@Angela Fellows

Of course the best advice would be to wait and save the money. Debt isnt fun, even when you can afford it. But theres that good ole saying you only live once. If this is where you plan on living for a while and where you want to raise your kids, why not make it somewhere you want to be when you get off a hard days work. Tomorrow isnt promised to anyone so enjoy the things that are here at the moment, live life to its fullest.

This is the lil devil on my shoulder talking...LOL

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