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Need the best advice

My house needs some major repairs I need a kitchen sink,both bathrooms need doing,I new some tiles on all my floors,my carport is,falling down. I just don't know what to do it will take 100,000 for me too get it up to par. I need an extra room,new windows,I can just cry this house needs so much. I don't know if I can borrow the money.My question is should I wait and save up the money or everytime I get my income taxes do I do little by little. This if I can't borrow the money at the bank or do I take out a home equity loan?

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Asked by mamaofficer at 11:43 PM on Aug. 16, 2010 in Home & Garden

Level 31 (50,120 Credits)
Answers (7)
  • Well can you do some things yourself? I think waiting for tax returns to do little by little is the least expensive way because you're not going to miss that money that's already been saved for you- But if you know a reliable contractor and want it done NOW you could take out a loan (home equity maybe) though this will be quicker, it will be more expensive.

    Answer by txdaniella at 11:49 PM on Aug. 16, 2010

  • You could probably get a home improvement loan from the bank pretty quickly. But to conquer home repairs it's kind of hard to know where to start. First off, you need to find out if you want to DIY, I know some places have classes and whatnot to help in that area. As far as redoing kitchens and bathrooms, I would hire and expert (someone with a good rep). Kitchens and bathrooms are really hard to do because they have a lot of plumbing and electrical issues. This gets back to getting a loan. You might be able to to refi for home improvements. The best source to ask, is the bank where you do business.

    Answer by gnovinger at 11:50 PM on Aug. 16, 2010

  • I am in the same situation. Unfortunately this isn't easy, on one hand you need a better home, and in the other you really don't want to rack up that debt. I would suggest tax time, but save up at the same time, anytime you have a little extra put it away. once you have a handle on what is going to cost what, once you have that money go out and do it little by little. I need a sink and I like this $250 one, so you save up $250 plus a little extra for those other little things, maybe you need more pipes along with it. Don't get a loan, that is something you will have over your head for a really long time, and if something were to happen to yours or hubby's job, you wouldn't be able to do much about that.

    Answer by kbishop8688 at 11:50 PM on Aug. 16, 2010

  • That's what I like to do is save and do it little by little. I'm a single mother with 6 kids and I don't want to get into something It will take years to get out of.

    Comment by mamaofficer (original poster) at 11:54 PM on Aug. 16, 2010

  • It is so much easier and less stressful when you choose to do little jobs at a time as you have the money. It may be easy to get the loan but stressing about paying it back won't be quite as easy.

    Answer by hsmominky at 11:57 PM on Aug. 16, 2010

  • another option is contacting one of those shows who help people get their homes livable when they are in rough situations and really need the help, the worst they can do is deny you and you end up right back here saving up to fix it

    Answer by Laura_Cruz at 12:44 AM on Aug. 17, 2010

  • Thanks

    Comment by mamaofficer (original poster) at 12:47 AM on Aug. 17, 2010

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