home improvement: 3 Reasons to Finance Your Home Improvements - 05/13/19 07:56 AM
If you’re thinking of paying cash for home improvements, you may want to think twice.  Here are three reasons why you may want to consider a cash-out mortgage refinance or home equity loan instead:
1 – Preserve your cash: a large home improvement project could quickly deplete your savings. Think about this project in the context of the next 3-5 years. What other large expenses could crop up during that time period, and would it be useful to keep your savings on hand for those items?
2: Opportunity Cost of Money: would it more useful to invest that money in a college savings plan or … (1 comments)

home improvement: 3 Reasons to Finance Your Home Improvements - 03/04/19 09:31 AM
If you’re thinking of paying cash for home improvements, you may want to think twice.  Here are three reasons why you may want to consider a cash-out mortgage refinance or home equity loan instead:
1 – Preserve your cash: a large home improvement project could quickly deplete your savings. Think about this project in the context of the next 3-5 years. What other large expenses could crop up during that time period, and would it be useful to keep your savings on hand for those items?
2: Opportunity Cost of Money: would it more useful to invest that money in a college savings plan or … (1 comments)

home improvement: Two Reasons Why You Should Keep Your Home Improvement Receipts - 01/21/19 08:49 AM
 
1: Ability to Deduct Your Mortgage Interest: If you take out a mortgage for home improvement purposes, the IRS may ask you to prove the project was a "substantial improvement" that:
Adds to the value of the home, Prolongs the home’s useful life, or Adapts the home to new uses.  For example, painting a room may not qualify, but an addition or a new kitchen may qualify. Keeping the receipts from your home improvement project would go a long way toward proving this. Also, keep in mind that the IRS gives you 24 months to reimburse yourself for improvements made in the past, or … (0 comments)