Renovations - HELOC or cash reserve
Hi BP community - I am getting ready to do some renovations on my property that will cost about 25k. I have cash on hand that will cover the renovations and I also have a HELOC. I am stuff on trying figure out should I use the HELOC or my cash reserves to do the renovations with. I am not a tax expert so trying to see what the tax benefits pros/cons would be with either HELOC or cash. Help turn on the light so I can walk out of the darkness....