Pay with credit, cash, HELOC or other?

Tanisha A Sykes

Donald Olhausen Jr., a 34-year-old real estate agent in San Diego, completed a major renovation project for his 2,200-square-foot Mediterranean-style home in 2018.

“We completely renovated the kitchen and bathrooms, replaced carpets, modernized electrical and plumbing installations and did carpentry work inside and outside the house,” says Olhausen. “We also added lawns and new fences to the front yard to improve containment appeal.”

The project was quite an undertaking, but it more than paid off for Olhausen and his wife Gabrielle, 25. To pay for the renovation, Olhausen, who was the sole owner of the home at the time, borrowed $25,000 from his future father-in-law. Law.

“It was risky because I’d only known him for less than a year and he pushed for me,” he says. “It was definitely worth it, because the house looks beautiful.” Olhausen has since repaid his father-in-law in full.

►Home project guide? Which projects should you tackle first?

►Buy a house? Use tools like Google Earth, LinkedIn, and mortgage calculators

Leave a Comment