Hi , I’m thinking of renovating the kitchen and bathroom in my IP.
My question is , should I pay from my own funds or get a bank loan to do the renos?
I’m considering buying another IP soon and want to maximise my borrowing capacity, so not sure if its better to use my own funds or the banks? Also is it better from a Tax perspective to get finance?
In my case, I don’t really indulge myself to lending institutions but I was told by a friend that it is better than bank loans. To cut it short, if it necessary for you to have the renovation as soon as possible then you may try to get loans but if not, I suggest that you save first for that so that you could have funds for your kitchen and bathroom.