so many things to consider, in general though if your home needs work, and you have a solid employment, a home equity loan is a good solution as you only use what you need.....
Sit together not only with a lender/or banker, but also with a local Realtor, because you DO NOT WANT TO UPGRADE TOO MUCH, i.e. the Realtor will help you decide what to do and what not to do and that
will determine the amount you want to borrow.
Good Luck, if you need the recommendation of a Realtor let me know and feel free to contact me anytime ....
Edith YourRealtor4Life! Working always in the very BEST interest of her clients! Buyers and Sellers and relocating buyers alike....
Your Chicago / Northern Illinois and North Shore Connection providing all clients with the very BEST
services, detail oriented, pleasant to work with, and honest when pricing a home for sale, or showing you a home to buy, once you make an offer Edith will provide you with the best Comps to make a
reasonable and competitive offer
The ultimate criteria would be, How long to you plan to stay there?
If you are planning on LONG-TERM; go for it.
In that case, do it for yourself, your choices, your taste.
If that is not the case, don't do it:
You can't possibly guess the taste of the new owners; whatever you do, will be wrong and you will get back 50-60 cents on the dollar you spend.
Good luck and may God bless