Savings vs Loan for essential home repairs

Andydraper

So I've just had what I thought was going to be a moderate home repair job quoted. It turns out my kitchen floor has wet rot and rising damp due to poor workmanship from the previous homeowners. The carpenter who came to look today said its about 4-5 weeks work and will cost about £9-10k to fix and put right. That's without new kitchen cupboards etc as these could be reused. So, I have about £8k in savings.
Do I use my savings and a 0% credit card or should I get a loan and keep my savings?

[Deleted User]

A 0% card would be the most cost effective option.

Failing that, I would use savings if you feel your income is secure and you can replace them over time.

MallyGirl

will the carpenter accept payment by CC?

bargainbetty

Get a second opinion as well - don't assume this person has given you the right advice or the best price until you have checked with other tradespeople.

Clive_Woody

Andydraper wrote: »

So I've just had what I thought was going to be a moderate home repair job quoted. It turns out my kitchen floor has wet rot and rising damp due to poor workmanship from the previous homeowners. The carpenter who came to look today said its about 4-5 weeks work and will cost about £9-10k to fix and put right. That's without new kitchen cupboards etc as these could be reused. So, I have about £8k in savings.
Do I use my savings and a 0% credit card or should I get a loan and keep my savings?

Have a look on the DIY boards on here, there is a section where you can query if your quote is fair. Post details of what is included in your quote as £10k would pay for a decent brand new kitchen.

That seems like a high cost based on limited information and I would suggest you get more quotes.