Asked 3w ago
I think this might be their retirement home, wondering if I should just improve it now and let them live here comfortably?
It would be better off saving on your own for the renovation that you intend to do for them.
I feel that even though interest rates is low for that, the interest rate is calculated like a personal loan basis.
Meaning if u take 10k loan at 2% interest rate for 3 years.
Your total interest will be $600.
Thus even though you are paying a lower rate, but the effective interest rates is higher...