Reply to How to convince spouse home renovations make financial sense

Forum Index » Money and Finances

Reply to "How to convince spouse home renovations make financial sense "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Unrenovated homes in my neighborhood still sell quickly, and yes its for a discount, but the discount is less than the total cost of all renovations needed. [/quote]

Understood.

But if you spend $100k in updates and then enjoy them for 10-15 years and sell your fully paid off home for north of $800k, isn’t it worth it? A well maintained home will surely sell faster and for more than a dilapidated one.

Before we sold our starter home, we painted the interior and spruced up the exterior. We updated the 1960s light fixtures and faucets, etc. We sold over asking price. Quickly. [/quote]

Not really. It sounds like you don't understand the difference between major maintenance and infrastructure improvements vs. cosmetic upgrades. And really, it doesn't matter what experience you had with a sample size of one house a while ago.

If you put on a new roof, or install a new boiler, or get your water connection line replaced, or something like that, that's a big investment that's going to hold value for 10-15 years or more. If you do things that prevent your house from deteriorating, like repointing or correcting your drainage, that will help your house hold its current value. But you can't have fresh paint, live with it for 10-15 years, and expect it to sell as if it did when the paint were fresh, because the paint won't be fresh anymore. When you sold your starter house, you freshened it up *to sell*, not to enjoy, and it was fresh when you showed the house. If you paint now, it won't be fresh in 10-15 years, you'll have to re-do it.

Then there's the matter of taste. A kitchen that you consider new, lovely, fresh, classic, wonderful, will no longer seem that way after 10-15 years. It will show wear and tear, but more importantly, it will no longer feel up to date *even if you thought it would be timeless and classic* because trends change. And it simply may not be what your buyer wants. Personally I hate a lot of "modern" kitchens, think they're hideous, and would not be willing to pay more for it. I'd be thrilled with an avocado green 70s kitchen that I can renovate to my liking. You just never know what your actual buyers will value and what they'll be willing to pay more for.

Anyway, the person you need to convince is your DH, not us. You seem not to want to hear what people are saying about your attitude and how you talk about this with your DH. I think that's your real problem. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics