Just bought a home and have some large capex coming up. Redo kitchen/finish basements and other stuff. Does it make sense to pay out of pocket for it if I can afford it or borrow and add on to my mortgage?

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I initially paid out of pocket for those, but I did them relatively cheaply and full DIY. For our next round of bigger and more expensive renovations, I am leaning toward doing a HELOC. Rates are really low right now and even though I don’t see any significant risks to my employment or financial situation, I’d rather spend a bank’s money and keep more of mine in hand longer in case things deteriorate further.

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