Reply to I don’t understand how my neighbors are paying for their renovation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yeah, yeah, I should mind my own business – but I still don’t get it.  They are in their mid-30s with three young kids. I obviously don’t know their exact salaries, but based on their jobs, I’d bet one earns about $90,000 and the other about $70,000.

Pre-renovation, the house was probably worth $900,000. And they’re now doing so much work that it’s almost like a new build (adding square footage, completely gutting the inside, adding a deck, etc.).  I don’t see how they’re spending any less than $500,000 on the renovation, and it’s probably more.

I don’t get how a family with three young kids making $160,000 a year can afford this. I guess the answer is family money, but is there really this much of it going around?  This is not even in Bethesda or some place like that.  I should add that it is the childhood home for one of them, so maybe they were gifted it by their parents – but still, are parents giving an extra $500,000+ cash on top of a paid-off $900,000 house (plus rent for a second place while the remodel is happening)??[/quote]

Not necessarily family $$ either. My partner and I moved here to be close to family and change careers in our 30s after doing well in CA. We make significantly less money than we did before and have saved quite a bit for things like what you described. This thread made me realize that our neighbors may wonder and assume the same thing too, [b]which annoys me[/b].[/quote]

Why? [/quote]

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