Shall I use the emergency fund or take out a loan to remodel the kitchen

As you don't have a decent amount of cash rather the emergency savings, you should consider HELOC or a home equity loan.
It'll be smart move to protect the emergency fund and using your borrowing power.

The average cost of an upscale kitchen remodel is more than $80,000. So, you must think how much you can afford to spend.
Interest rates are still low, so taking out a home equity line of credit (HELOC) or home equity loan could be a wise financial decision.

It is better not to use your emergency fund for kitchen remodelling. Either save the amount or if you have equity in your home, tap it to take out a low-interest loan.

Most of the people commit a mistake by using their emergency fund for unnecessary expenses. One of the most common examples is home remodeling or kitchen remodeling.


Dear, is it a necessity? If it is a roof leakage or plumbing and other property damages, your emergency fund.

I will suggest not to take out any loan for this purpose. Since it is not an urgent requirement, save a certain amount every month for it. Set this as your short-term financial goal. I will assure you that you can save the required amount very soon. Good luck!

It's a wrong concept that you have to spend $80,000 or $50,000 for remodeling your kitchen. There are tons of tips to remodel your kitchen by spending only $2000. One of these tips is to pain the cabinets in warm white shade.