Anonymous wrote:Anonymous wrote:Mortgage rate drives a lot of this decision.
If your rate is 3-4% or so and you can cash flow the renovation, stay.
If your rate is higher, consider a move instead of a reno.
10000%. People who bought below 5% pre 2024 ish don’t understand how a 6 something rate impacts affordability. Even before COVID, rates were below 5% for the 15 or so years prior.
At 6.5% you’re still looking at $5.5K ish PITI on $750K financed assuming OP puts 50% down on $1.5M
Anonymous wrote:I hate our house. I hate it when we bought it. I still hate it, 15 years later. To get the three things I want that would make me happy, we would have to pay like a million dollars more. Doesn't make financial sense. So I just am stuck in this house that I hate.
Anonymous wrote:Mortgage rate drives a lot of this decision.
If your rate is 3-4% or so and you can cash flow the renovation, stay.
If your rate is higher, consider a move instead of a reno.
Anonymous wrote:Yeah I worry that this is really a personality thing. I've living in 1100sqft and now 2200 sqft and we have people over all the time ( at least a couple times a week).
Maybe you just need a couple spaces that you love, like a dining table to sit around, or some porch furniture.
Anonymous wrote:Anonymous wrote:We live in a city apartment so it's not exactly the same scenario, but we decided to scratch a plan to move to the suburbs and hired a decorator to help us reinvent the space we already had. We did not take down walls or do any major construction, but we did paint everything, replace most of our furniture, rugs, window treatment, and lighting fixtures. The end result changed the way we used rooms, created more efficient storage opportunities, and was magazine-layout beautiful to boot.
No, it was not a cheap fix. But it cost less than moving, and ten years later I have zero regrets about our choices.
Can you say more about this? I'm curious how those changes made a difference in how the rooms are used.
Anonymous wrote:We live in a city apartment so it's not exactly the same scenario, but we decided to scratch a plan to move to the suburbs and hired a decorator to help us reinvent the space we already had. We did not take down walls or do any major construction, but we did paint everything, replace most of our furniture, rugs, window treatment, and lighting fixtures. The end result changed the way we used rooms, created more efficient storage opportunities, and was magazine-layout beautiful to boot.
No, it was not a cheap fix. But it cost less than moving, and ten years later I have zero regrets about our choices.