If I win the debate with my wife on “fixer upper” vs. “turn key” new, we will end up with a fixer upper. My plan for our finalists in that category is a remodel over 5 years. Why, because I will be paying cash for the remodel. The last thing I want to do is put 30% down and then eat away at it in a falling market with a HELOC. We will stage the remodel and use cash for the entire thing.

Mind you, however, I am not above using deferred cash options, such as no interest financing. I did that with the recent remodel of my current home. When the 0% interest term came up for expiration I paid the balance in full and got a 0% interest loan for 12 months paid with cash I put into a CD for that purpose. You pay for current benefit with future money or current money that gets a bit above inflation ROI.