Reply to Would you spend $1m on a house remodel

Forum Index » Money and Finances

Reply to "Would you spend $1m on a house remodel"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]If you want to retire sooner then don't do it.  Surely there is a more modest way to renovate.

And yet, this is the home you've chosen.  So, I guess you have to?

But would I spend a million dollars on a home rennovation?  Not in a million years.  That said, my parents spend about 200K on a rennovation of a 400K (at the time) house, so it's not an unreasonable number, it's just not what I, personally, would spend.[/quote]

I think it depends what percent of your Networth it is.  I just spent $750K on a $3M home.  Did everything except the windows (still good), but that includes a new roof, new boiler, new deck and gutting the inside except the walls.  Could have spent $4M on a different home, but this was about location and getting to do what we wanted for the inside.  The $4M would still have things I didnt' like and it would be hard to find the location and other specific things we wanted (public water and sewer---only a small portion of the island we are on has that).  But this is nothing for us to spend, it's our retirement home (will last 20+ years for us until we are 75+, possibly longer).  So I bought the house we liked in a location we liked, knowing that we would "fix" what needed to be upgraded/replaced---house was 20+ years old so many repairs/upgrades were needed anyhow, might as well do it the way we want rather than a newer home with a kitchen I don't really like. 
[/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