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Yes.
We own a 4.5 year old house.
I want a new kitchen.
Cannot bring myself to spend the $50K.
Agreed. It is always absolutely baffling to me what kitchen and bath remodels cost. Here is some fake stone countertop, pieces of broken glass for a backsplash, glued together particle board or plywood with ok trim for cabinets, and some paint.....or you could have a brand new 6.2L V8 American Engineered Corvette utilizing the most up to date technology achieving 455 base horse power...you know...cause that pricing makes sense.
Agreed. It is always absolutely baffling to me what kitchen and bath remodels cost. Here is some fake stone countertop, pieces of broken glass for a backsplash, glued together particle board or plywood with ok trim for cabinets, and some paint.....or you could have a brand new 6.2L V8 American Engineered Corvette utilizing the most up to date technology achieving 455 base horse power...you know...cause that pricing makes sense.
They don't assemble and paint that Corvette in your driveway.
Location: Stuck on the East Coast, hoping to head West
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Yes. I defer, defer, defer. The main reason is that the routine maintenance eats up so much of my money. Replacing appliances, heating systems, roof, siding. Houses are a lot of work. Every single time I've been ready to splurge on a kitchen remodel, something else happens that has to be taken care of. Things break and need to be replaced.
Case in point: as of last night my dishwasher is completely dead. Oh, yay.
I actually resent all of the maintenance and time I've spent as homeowner. When I think about the vacations I could've taken or the cars or the savings I could have had, it annoys the heck out of me.
I keep careful records on my house. I've projected when certain things are going to need to be done. I know, for example, that I'm looking at replacing the roof in about 5 years, new heat system in 5-7 years, etc. My plan is to sell before. I'm done.
Yes. I defer, defer, defer. The main reason is that the routine maintenance eats up so much of my money. Replacing appliances, heating systems, roof, siding. Houses are a lot of work. Every single time I've been ready to splurge on a kitchen remodel, something else happens that has to be taken care of. Things break and need to be replaced.
Case in point: as of last night my dishwasher is completely dead. Oh, yay.
I actually resent all of the maintenance and time I've spent as homeowner. When I think about the vacations I could've taken or the cars or the savings I could have had, it annoys the heck out of me.
I keep careful records on my house. I've projected when certain things are going to need to be done. I know, for example, that I'm looking at replacing the roof in about 5 years, new heat system in 5-7 years, etc. My plan is to sell before. I'm done.
The problem is that a house with a long list of deferred projects can be extremely difficult to sell unless it is at fire sale prices. Nobody wants a project unless they're stealing it.
Just bought a new house and my wife and I were able to take much of the equity from our last home sale and put it towards remodeling costs. So far - new interior paint, new front door, all new light fixtures and ceiling fans, new carpet upstairs, painting all cabinets, all new hardware, granite in bathrooms, kitchen backsplash, new mirrors in baths, new towel bars/rings etc., new kitchen sink, and all new faucets in kitchen and baths. Total cost - about $12k, and that includes paying plumbers, electricians, and painters. Still have to repair one little section of roof which will probably add another $500-1,000.
No, houses aren't cheap and owning one isn't for the faint of heart or money. That's why some people simply aren't cut out for homeownership, and that's from someone who works in the homebuilding industry!
My answer is no, I'm not putting off home re-dos because of cost. I bought new construction just over a year ago, and I put in a fair amount of upgrades based on what I could afford and what I felt made sense from a practical and financial perspective.
I have a number of small to medium size projects that I chose to not do as part of the initial construction so that I could spread the costs out over time and not roll it up into my mortgage. I will continue doing those over the next few years, and by then, I'll probably be looking to re-do or replace something! lol!
I'm definitely one of those people who sees my house as my hobby - my son and I do travel some and do local activities, but we are mostly homebodies and we love spending time at home enjoying ourselves and our home, so it's worth it to me to put money into it. But I don't spend more than I can afford to do it because I took these costs into consideration when determining what I could pay for the house in the first place.
We just got this house 3 months ago and we are putting off redoing anything right now due to how costly everything is , anyone else noticing this trend of how things are going up and up and yet salarys and paychecks stay the same ? I mean really one can barely afford to live anymore . I do think we must be living in the end times and things will only get more exspensive and frankly we can barely afford to paint and it is just not us . I see other folks having a hard time as well . Have any of you put things off in redos because of the cost ?
In a hurry much? You are still rearranging furniture. Give it 5 years and you will be able to come up with some money. Spending a few years planning and budgeting for a home improvement does not mean "putting it off."
We've lived in our home almost one year. In that time, we've replaced/renovated the things that I couldn't bear to live with (i.e. the hideous white kitchen tile, the brass hardware/lighting, spruced up the landscaping). We were forced to address some maintenance-type issues with the pool. Everything else we have just learned to live with and appreciate. If extra $$$ comes along, sure, I'll take care of the master bathroom but for now, no.
Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,931,469 times
Reputation: 9885
Quote:
Originally Posted by GeoffD
The problem is that a house with a long list of deferred projects can be extremely difficult to sell unless it is at fire sale prices. Nobody wants a project unless they're stealing it.
True. I guess my point is that the projects are never done. At any given time, I'm easily working 2 or 3 projects. Also, a remodel also has a limited life span. Stay long enough and go on to round 2. It's always something.
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