What Is the Smartest Way to Pay for a Home Upgrade?

Описание: When you decide to upgrade your home, one of the biggest questions becomes how to actually pay for it.

In this video, I walk through the main ways people fund home improvements, including paying cash, using a home equity line of credit, and borrowing against investment accounts. I also talk about when borrowing might make sense, how taxes can factor in, and why it can sometimes be worth spending a little more for quality materials that will last.

If you're planning a kitchen remodel, bathroom renovation, or other major upgrade, these are the financial questions you want to think through before you start.

0:00 Introduction
0:28 Paying cash vs borrowing
1:02 Using a HELOC for home improvements
1:46 Tax deductibility of HELOC interest
2:15 Borrowing against investment accounts
2:55 Why you still need a payoff plan
3:20 Spending more for higher quality materials
3:58 Planning upgrades so you can stay in your home longer
4:35 Final thoughts

I'm Jessica Lanning, founder of Lanning Financial.

For more information, visit
lanningfinancial.com/youtube

Lanning Financial Offices

6975 Union Park Ave
Cottonwood Heights, UT 84047

100 Pine Street, Suite 1250
San Francisco, CA 94111

Phone: 414-354-5699