Reply to How to convince spouse home renovations make financial sense

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have roughly $200k left on our mortgage for a home in a desirable suburb where houses sell for $800k+.

HHI low $300k (mortgage just under $2k/month)

College tuition is admittedly ridiculous (with one currently in college and two more who will be over the course of the next decade).

Our house desperately needs renovations. This is a need, not a frivolous want.

-Original 1980s kitchen and bathrooms

-Original (horrible) 1980s windows, siding (which a contractor actually told us is better than what is made today and we should leave it), faded shutters, warped gutters, garage doors that are peeling and temperamental, framing around door is peeling, etc.

-Original tiles in foyer and kitchen are terrible.

-Original interior doors are awful (some sliders don’t function)

-Our 90s/early 2000s furniture is shabby.

I’d like to tap into home equity to update everything. Not high end, but middle of the road. My philosophy is to do it now so we can enjoy it. Surely we will recover some of this when we sell 15+ years from now.

How do I convince spouse?

What’s a ballpark amount to use as a guideline?

Admittedly we have been spending money on travel over the last decade rather than update the house.

We don’t have room to cut back since we live rather frugally (kids in public, old cars, no housekeeper or landscaper, etc.). [/quote]

Hiring painters goes a long way.  Sounds like exterior would do that for you.  For your kitchen I’m guessing the cabinets need updating.  Can you paint them white if they are not melamine?  I actually peeled the melamine off of mine since it was already peeling. Again paint makes a huge difference. Good luck. I bet your counters will feel totally different with white cabinets.

[/quote]

You sound like my spouse.

Why paint cabinets when the drawers are broken/warping and doors have faulty hinges? [/quote]

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