Does it make sense to use RRSP money for a reno?

Q: My daughter and my husband bought a $400,000 property three years ago near Midland, Ont. My husband earns $59,000 annually and my daughter $16,000 (self-employed). They want to renovate the kitchen and eventually sell the home to make a profit on it. The mortgage is $319,000. My daughter wants to get a $30,000 loan from the bank but I don’t think they’ll give it to her. Right now, she has an RRSP with $39,000 in it. Should they use the RRSP money to renovate? When they sell the...

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