It's useable as it is now? clean? Then I wouldn't.

Anonymous wrote:Do it! A new bath will make your life much nicer, and once you have a child it will be much more difficult to live through.

Have you crunched numbers as far as baby expenses, lost pay from parental leave, etc.?

Yes, we've crunched the numbers. We have enjoyed being DINKS for the last 10 years! We both have healthy leave balances and will each take 12 weeks of (paid) FMLA leave after the birth so we won't need childcare for the first 5-6 months while still receiving our full paychecks. After that, daycare will prevent us from saving as much as we currently are, but we should still be able to put at least $750-$1000 per month into our savings to recoup our emergency fund. Other than our mortgage, we have no other debt and we max out our retirement contributions. Our neighbor runs an in-home daycare and told us she will hold a spot for us for next summer and we are also on several Federal-preference center wait lists as a back-up.

Do it! A new bath will make your life much nicer, and once you have a child it will be much more difficult to live through.

Have you crunched numbers as far as baby expenses, lost pay from parental leave, etc.?

Anonymous wrote:I vote to wait 5 years - babies are a money suck, and there's no need to have a renovated bathroom now.

+1

If it is functional now, wait....calculate how long it would take to replenish factoring in daycare costs, diapers, etc.

I vote to wait 5 years - babies are a money suck, and there's no need to have a renovated bathroom now.

Anonymous wrote:Can you save some money by getting friends/relatives to help with the demo and other easy parts of the reno? I'd DIY as much as possible to bring the cost down.

Yeah, and then pay through the nose when the amateur friends screw something up and flood the basement.

Anonymous wrote:Can you save some money by getting friends/relatives to help with the demo and other easy parts of the reno? I'd DIY as much as possible to bring the cost down.

Don't be a peasant.
Your friends have their own lives.

Are you prepared to live with an emergency fund of only $15K and possibly less, as you are most likely not going to be able to replenish it after the baby is born? If so, go ahead and remodel.

Anonymous wrote:That's a tough one. Normally I would say no, but it is highly unlikely you'll want to take this on after you have the baby in the next year or two. I would definitely went an updated, enjoyable bathroom in the last few months of pregnancy and first few months of baby's life. However, babies are expensive and you will likely have copays or other high baby expenses.

I would. Updated baths are lovely and pristine, esp with new babies. It also adds value to the house.

Can you save some money by getting friends/relatives to help with the demo and other easy parts of the reno? I'd DIY as much as possible to bring the cost down.

If it is fully functional despite being dated, I would not do it at this time. I would live with it for a few years (at least) and then revisit from a financial POV.

We are just now about to remodel our circa 1952 bath after having lived in the house for 14 years. We have daycare expenses behind us and are much more comfortable doing this now than we would have been a decade ago.

That's a tough one. Normally I would say no, but it is highly unlikely you'll want to take this on after you have the baby in the next year or two. I would definitely went an updated, enjoyable bathroom in the last few months of pregnancy and first few months of baby's life. However, babies are expensive and you will likely have copays or other high baby expenses.

$15K is not a bad price - could you live on one of your incomes if you had to? Are you working for the same agency or are your jobs linked in any way or dependent on the same factors? (I.e. what are the odds of both of you getting RIF'd?)

I'm trying to make a similar decision - whether to spend some liquid savings on redoing my ancient baths. In my case, I'm a single-income household so I"m hesitating.

I wouldn't. Things always end up costing more than anticipated and at best that is half of your savings. I would start a separate bath reno fund.

DH and I both work for the Federal Government in very stable jobs with decent upward mobility. We have about $30k in cash savings/emergency fund which is about 6 months worth of expenses. Our very old (1940s) house has one original full bath that is need of updating and we'd like to get this done before DC's arrival this December. We've received estimates from contractors and it looks like it will cost about $15k for a full gut renovation. Seeing as how this is about half of our savings/emergency fund and that we're expecting our first child soon, should we take on such a large expense at this time? As I mentioned, this is our only full bath (we have a half bath in the basement) but we don't think we'd get it done any time soon if we wait until after the baby. We plan on showering at work (gym) or at my brother's condo (he has agreed!) about 3 miles away. We also have substantial Roth IRA's that we can tap into in case of emergency.

Any thoughts/advice?