Should I get an home equity loan or should I save my money and pay ...

I own a house that will be paid off next year.

I want to do some remodeling in my house like a new kitchen, all new travertine floors, new doors and some other things.

The total of my remodeling will be about $45,000 including all the labor and materials.

My question is: Do I get a home equity loan for 7% to8% or do I save my extra cash and pay for the remodeling in full in about 2-3 years after I pay off my house?

If I get a home equity loan for about 5 years, I will pay nearly $10,000 in interest alone. That?s a lot of money!

Any ideas?

P.S. I have no debt except my house loan. No credit cards, no cars, no school loans, no nothing!I have a credit score of 780 and I don?t like to pay interest if I don?t have to!

Source: http://finances.solve-up.com/credit/loans/should-i-get-an-home-equity-loan-or-should-i-save-my-money-and-pay-with-cash/

julia gillard kris humphries paul ryan kevin federline outlook tampa bay rays t mobile