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Updated over 4 years ago on .

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10
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Kemona Palmer
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10
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Renovations - HELOC or cash reserve

Kemona Palmer
Posted

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....