A credit card is a good helper if you are renovating an apartment using your savings and are not within your budget. To avoid delays in renovation work, you can pay for some purchases with a credit card and reimburse them before the end of the grace period.
What to do in different situations
Before making a choice, you should evaluate the scope of upcoming work and its costs. We will describe the available options in different situations.
Such repairs will be expensive. But this does not mean that you must take a loan from a bank for it. It all depends on how urgently you need to move into a new apartment.
If you rent a place, then protracted repair work will cost you large overpayments for rent. In such a situation, it is best to resort to credit. You can take out a large loan and very quickly prepare the apartment list of mobile number database for moving. And the funds that you previously gave to the landlord will go to monthly payments. But it is important to consider that for several months you will have to pay both rent and the loan. You need to have savings for this or add these costs to the loan amount.
If you don't pay rent, there is no great need to rush. You can do the renovation gradually - with your own funds or using a credit card. It is worth calculating the benefits. If you have two apartments and you plan to rent out one of them (new or old), it is worth finishing the renovation work as soon as possible. The rental income will quickly compensate for the loan costs, and you will also be able to save on inflation.
Make a major renovation in an old apartment
If the apartment you live in needs major repairs, there are two courses of action:
move out for a while and do all the work at once;
do not move out and renovate the premises in stages.
The first method requires large financial costs, and it is difficult to do without credit. It may take years to accumulate such a sum, which may not happen - especially if it is necessary to change pipes and wiring.
If you renovate the rooms gradually, you can try to get by with your own funds and a spare credit card. But you need to prepare for uncomfortable living conditions that will last for many months. They will exert psychological pressure and reduce your productivity.
Do some cosmetic repairs
If only finishing work is required (replacing wallpaper, tiles, linoleum, etc.), there is no rush. You can save up and renovate one room after another.
A loan can be beneficial if the apartment is rented out and needs to be completely renovated. The sooner you do this, the less income you will lose. It makes sense to take out a small loan and do all the work in a few weeks.