How bad can 301 redirs influence site load time

Hello world.

I’m using the redirection plugin on my site and already have like 100 of 301 redirects and planning on increasing the number.

Since I’m on shared hosting and having performance issues, I’m wondering how big is the impact of my 100 redirs on the load time.
The site was moved from another domain and as you can imagine, there are lots of 404s that need to be handled.

So, should I keep on using the redirection plugin or can you recommend other faster methods?

Thanks.

https://wordpress.org/plugins/redirection/