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Should You Invest In Renovations Or Purchase A New Home?

Prairie Eco-Thrifter

At one point or another, every homeowner eventually decides they want to either add something to their home, or renovate it one way or another. But if your family might very well move out in five to ten years anyway, then the question becomes a different one altogether: should you renovate or simply get a new home right off the bat?

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5 Lessons Learned When Our Finances Went Awry

Family Balance Sheet

But in August 2013, our business softened, renovations to our new building were more costly than planned, and we were now the owners of two mortgages, our home and our business. 5 Lessons Learned When Our Finances Went Awry. Yep, life was good. The numbers that looked great on paper were in reality turning out to be very challenging.

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How to Start a Business in 15 Steps

Savings Corner

And if you’re renovating a space to sell products or perform services, you may need to ask local officials for a zoning change. Open a business bank account Keeping your business and personal finances separate is key to managing your business finances. Startups should look to other financing options.

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Friday Links – Day Off Edition

Prairie Eco-Thrifter

If so, bookmark SFB’s post about How to Set Yourself Up To Be a Financial Success When Starting the First Job at Simple Finance Blog. Staring a home renovation? If so, don’t miss Mike’s post about the 5 Costly Mistakes Contractors Make When Starting a Home Remodel Project at Personal Finance Journey.

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Best Mortgage Refinance Lenders In 2024

Savings Corner

Images by Getty Images; Illustration by Hunter Newton/Bankrate Although interest rates aren’t as favorable as they were in recent years, refinancing might make sense for homeowners who want to pull out cash to renovate their homes. Based on those benchmarks, here is our guide to the best mortgage refinance lenders in 2024.

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How to Calculate Home Equity

Savings Corner

You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. Lenders consider it when approving you for a mortgage or other home-based financing. Home equity can be a valuable resource for homeowners.

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Pros And Cons Of A Home Equity Line Of Credit (HELOC)

Savings Corner

If you qualify for the best rates, a HELOC can be a less expensive way to consolidate debt or finance a home renovation. Another point of flexibility: repayment. Possible tax-deductible interest Even after the Tax Cuts and Jobs Act of 2017, you can still deduct interest paid on a HELOC if you use the money for home renovations.

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