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Old 04-01-2007, 09:00 PM   #1
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Moving forward

Well, I am thinking of moving forward with this project though I won't be completely done when my equity line runs out. I am posting this here just to hear anyone's opinions on the matter from personal experience or just a different point of view.
With the equity line we have, and a completely unfinished attic, we can afford to get a 12 foot dormer finished on the exterior, all interior walls framed with 2 pocket doors and 1 six panel door installed, stairs completely rebuilt, dual zone air conditioning, new elect. box/meter/overhead wire and all interior wiring, and all plumbing that is needed. I have gotton several estimates and found the best prices and/or professionals.
So I will have to finish the floors, insulation, drywall, painting, fixtures as I can afford it.
I figure that even if it takes a little while I will be closer than I am now.
What do you think?

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Old 04-01-2007, 09:17 PM   #2
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Moving forward

Save a couple of bucks each week and set it aside to do the improvements when you can afford them paying cash..

Dont go into debt with an equity line to do them.

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Old 04-01-2007, 09:23 PM   #3
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Moving forward

I should mention that when we have utilized the equity line we will roll our loans together to lock in a good rate and avoid the higher equity line rates. We have a arm loan that is about to expire also, so this is a perfect time to refinance.
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Old 04-02-2007, 01:08 PM   #4
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Moving forward

If you have the equity why not refi now and take out the needed amount for the project? Rates could be higher by the time you get the work done and if by chance you draw too much you can always put it back
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