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Time flies, and the house we own and live in begins to deteriorate, leaking, and the paint fading. We realize that it requires significant maintenance and repair costs. Unfortunately, we don't have a budget for home renovations, so when the need arises, we're left in a state of panic.
Our emergency funds and savings are often insufficient to cover home renovation costs. If we save first, the damage to our house will likely worsen and require even greater costs. However, if we take out a bank loan, they'll usually only grant 80% of our loan limit. Which is better?
Our emergency funds and savings are often insufficient to cover home renovation costs. If we save first, the damage to our house will likely worsen and require even greater costs. However, if we take out a bank loan, they'll usually only grant 80% of our loan limit. Which is better?
