Putting Home Repairs and Investments on Your Credit Card – A Smart Decision?
when pertaining to real estate, many are now beginning to ponder making improvements and reinvesting in their homes since the housing market seems to be picking up steam once again. Others are considering an investment in their properties in order to improve the prospects of the property selling in the coming months.
Whatever the motivation, many have asked whether using a credit card to make such improvements is a valid and fiscally responsible approach. Below, we’ll address these concerns so you can make the best decision possible.
Small Investments Versus Large InvestmentsCredit card debt resulting from a home improvement project can quickly become more of a liability than an asset if done improperly. While small projects can usually be paid off in a matter of months, larger investments will depend namely on your current income and savings. There are a variety of credit cards available to those with good or excellent credit that offer 0% APR for a period of several months; for financially manageable products, using a credit card in this case makes sense
The nice part is, once a building is built, it will always need maintenance, so it is not as affected by building cycles.
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