facebookRenovation loan or use savings? I have enough savings and should have about 3 months worth left if I don't take loan. - Seedly

Anonymous

01 Apr 2022

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Property

Renovation loan or use savings? I have enough savings and should have about 3 months worth left if I don't take loan.

My renovation is about $40k+ and I have enough for the renovation and wedding.

Should I consider taking a small renovation loan ($10-20k) to spread the payment over 2-3 years and invest the extra money instead?

Discussion (3)

What are your thoughts?

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Unless you are getting a good deal on the reno loan interest... otherwise may be better to not use reno loan

Reno loan interest quite high....i cant find any good reason to use reno loan. unless you prefer to keep cash for other purpose which is your priority

  • Loan need to pay interest.
  • Or another question to ask: is there any financial benefit to delay t...

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