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10 votes
Accepted

Home appraisal ROI: changing floors

If the goal is simply to allow you to eliminate mortgage insurance, you're almost certainly better off using whatever budget you have to pay down the debt than to try to improve the appraised price of ...
Justin Cave's user avatar
  • 27.3k
7 votes

How can I borrow in order to improve a home I just bought?

Be careful that pride is not getting in the way of making a good decision. As it stands now what difference does it make to have 200K worth of debt and a 200K house or 225K of debt and a 250K house? ...
Pete B.'s user avatar
  • 76.7k
6 votes

Refinance for renovation, use 401k? HELOC? Both?

I would pay off the HELOC today. The "safety" of having $24K in cash/stock is costing you $150 a month in interest. You still can have $16K in liquid savings to handle most all emergencies. From ...
D Stanley's user avatar
  • 136k
6 votes
Accepted

UK - first house as a investment, mortgage

There’s no standard for early redemption penalties. Some mortgages have them and some don’t — read the small print of any mortgage you are thinking about applying for. But in general, avoid fixed-rate ...
Mike Scott's user avatar
  • 23.5k
4 votes

Financing my parents renovation

With gift tax it's not that the giver can agree to pay, the giver has the tax obligation, not the recipient. To the recipient the gift is not taxable income. For 2018 you can give $15,000 to each ...
Hart CO's user avatar
  • 70.5k
3 votes
Accepted

Can a VAT registered company produce a quote with a mix of VAT products and NON VAT installation?

I wonder if this a Tax fiddle? Doubtful. I used to employ 3rd parties who were not VAT registered in the UK to undertake work for my company (which was VAT registered). The invoice from my company to ...
graham's user avatar
  • 787
2 votes

$10,000 to invest in the house - Pay down principal or spruce up to increase appraisal?

There one key thing incorrect in your assumptions. FHA mortgage insurance remains for the life of the loan, it will never go away. It is one of the things that make VA and FHA loans a bad deal ...
Pete B.'s user avatar
  • 76.7k
1 vote

Finding an Investor for Rental Property Renovations?

The problem here can be boiled down to that fact you are attempting to obtain a loan without collateral. There are times it can be done, but you have to have a really good relationship with a banker. ...
Pete B.'s user avatar
  • 76.7k
1 vote

Can I get a tax break while renovating a house that is being auctioned?

You need to determine for the taxing jurisdiction when the next tax appraisal will be done. In some cases the appraisal is done every year, or two, or three. In other cases it is also done when the ...
mhoran_psprep's user avatar
1 vote

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be "good" debt?

Some good points were added here, but in the end its about opportunity costs of money. Let's say you could fully finance, partially finance or pay in cash. The money percentage you put down influences ...
Thomas 's user avatar
  • 996

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