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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]11:24 poster again

A million dollars could fund some nice trips with the kids over the upcoming years.

You could triage repairs.  Replace faucets if they leak.  Replace kitchen appliances when they break.  If windows are leaking water or air replace them.  If you have cracked drywall repair the drywall and repaint those rooms.

Millions of Americans live in 30, 40 or 50 year old homes with formica kitchen counters and still have happy lives.

Remodeling due to surfaces being out of date is a relatively new concept in America mostly driven by HGTV.

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[b]If you can afford to buy a $4M home, you are not "most Americans" and really don't want to live in a home with formica kitchen counters.  [/b]

Personally I'd evaluate what you can actually afford, consider renting a small 1 bedroom to live in during the majority of the renovations and just doing it all. I cannot tell you how nice it is to have a home done the way you want.  I have 2 of them, and now when we travel (and stay in luxury places) we still think our home is better....it's nice to come home to what you love.  If you can afford it, why not?  Life isn't about just getting by, you can't take your money with you so why not use it to enjoy life
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Maybe you are okay with it if your house is worth half of that?

Our house is worth $2 million and has the original 1955 kitchen with a few upgrades like a wood floor. But we still have the original counters, which are steel-rimmed formica that is close to indestructible.[/quote]

If you are fine with that, go for it.  But many prefer to have "nicer things" and if we can afford it, why not?  College is paid for, kids are launched/nearly launched and we have more than enough for retirement.  So why not spend on things we enjoy.  I mean we now travel business class 99% of the time.  Sure we could sit in economy plus, but what are we saving the $$ for?

Btw, we love our new kitchen and home renovations.  Makes it such a nice place to live.  [/quote]

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